ExodusPoint Capital Management LP Invests $3.65 Million in Allegiant Travel (NASDAQ:ALGT)

ExodusPoint Capital Management LP bought a new stake in shares of Allegiant Travel (NASDAQ:ALGT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 38,800 shares of the transportation company’s stock, valued at approximately $3,652,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Signaturefd LLC lifted its position in Allegiant Travel by 30.3% in the fourth quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock valued at $56,000 after purchasing an additional 138 shares during the last quarter. SeaCrest Wealth Management LLC raised its holdings in Allegiant Travel by 3.3% during the 4th quarter. SeaCrest Wealth Management LLC now owns 6,210 shares of the transportation company’s stock valued at $584,000 after buying an additional 200 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Allegiant Travel by 94.5% during the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock valued at $43,000 after buying an additional 223 shares during the period. GAMMA Investing LLC grew its holdings in Allegiant Travel by 53.5% in the 4th quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after acquiring an additional 236 shares during the last quarter. Finally, Crews Bank & Trust purchased a new position in shares of Allegiant Travel in the fourth quarter valued at about $25,000. 85.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ALGT shares. TD Cowen increased their target price on shares of Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, December 17th. Susquehanna lifted their price objective on Allegiant Travel from $60.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Morgan Stanley upped their target price on Allegiant Travel from $90.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Barclays lifted their price target on shares of Allegiant Travel from $85.00 to $100.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Finally, Bank of America decreased their price objective on shares of Allegiant Travel from $95.00 to $50.00 and set an “underperform” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Allegiant Travel has an average rating of “Hold” and an average price target of $78.10.

Allegiant Travel Stock Down 4.4 %

Shares of Allegiant Travel stock opened at $46.55 on Monday. Allegiant Travel has a 1 year low of $36.09 and a 1 year high of $107.57. The firm has a market cap of $853.63 million, a price-to-earnings ratio of -3.48 and a beta of 1.57. The company has a 50-day moving average of $72.05 and a 200 day moving average of $74.84. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72.

Allegiant Travel (NASDAQ:ALGT) last announced its earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $1.62. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. As a group, sell-side analysts anticipate that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

Allegiant Travel Company Profile

Allegiant Travel Company, a leisure travel company, provides travel services and products to residents of under-served cities in the United States. The company offers scheduled air transportation on limited-frequency, nonstop flights between under-served cities and leisure destinations. As of February 1, 2024, it operated a fleet of 126 Airbus A320 series aircraft.