Headlands Technologies LLC Increases Stock Holdings in Allegiant Travel (NASDAQ:ALGT)

Headlands Technologies LLC raised its position in shares of Allegiant Travel (NASDAQ:ALGT) by 170.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,522 shares of the transportation company’s stock after purchasing an additional 1,590 shares during the quarter. Headlands Technologies LLC’s holdings in Allegiant Travel were worth $127,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Interval Partners LP acquired a new position in shares of Allegiant Travel in the 1st quarter valued at about $5,641,000. Franklin Resources Inc. raised its holdings in shares of Allegiant Travel by 15.4% during the fourth quarter. Franklin Resources Inc. now owns 620,180 shares of the transportation company’s stock valued at $51,233,000 after acquiring an additional 82,813 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Allegiant Travel during the first quarter valued at approximately $1,306,000. First Eagle Investment Management LLC raised its holdings in shares of Allegiant Travel by 57.5% during the first quarter. First Eagle Investment Management LLC now owns 103,513 shares of the transportation company’s stock valued at $7,785,000 after acquiring an additional 37,800 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Allegiant Travel by 369.1% during the first quarter. BNP Paribas Financial Markets now owns 23,874 shares of the transportation company’s stock valued at $1,796,000 after acquiring an additional 18,785 shares during the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Allegiant Travel Price Performance

ALGT stock opened at $41.55 on Monday. The firm has a 50 day moving average of $44.35 and a 200-day moving average of $54.01. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $88.09. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.30. The company has a market cap of $757.54 million, a price-to-earnings ratio of 13.15, a PEG ratio of 5.50 and a beta of 1.64.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Wednesday, July 31st. The transportation company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.93. Allegiant Travel had a negative net margin of 0.57% and a positive return on equity of 3.48%. The company had revenue of $666.28 million during the quarter, compared to the consensus estimate of $657.74 million. During the same period last year, the firm earned $4.35 EPS. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. As a group, equities analysts expect that Allegiant Travel will post 0.96 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Gary Ellmer sold 1,000 shares of Allegiant Travel stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the transaction, the director now directly owns 7,490 shares in the company, valued at approximately $337,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 17.50% of the company’s stock.

Wall Street Analysts Forecast Growth

ALGT has been the subject of several analyst reports. Barclays lowered their price objective on Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Susquehanna reduced their price objective on Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft cut Allegiant Travel from a “buy” rating to a “hold” rating and reduced their price objective for the company from $75.00 to $53.00 in a research note on Monday, July 8th. TD Cowen reduced their price objective on Allegiant Travel from $39.00 to $33.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Finally, Evercore ISI reduced their price objective on Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating on the stock in a research note on Monday, July 15th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $59.50.

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.