Interval Partners LP Grows Stock Holdings in Allegiant Travel (NASDAQ:ALGT)

Interval Partners LP lifted its position in shares of Allegiant Travel (NASDAQ:ALGT) by 12.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,023 shares of the transportation company’s stock after purchasing an additional 9,023 shares during the period. Interval Partners LP owned about 0.46% of Allegiant Travel worth $4,220,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Innealta Capital LLC acquired a new position in shares of Allegiant Travel during the second quarter worth about $34,000. CWM LLC increased its stake in shares of Allegiant Travel by 275.1% during the second quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock worth $64,000 after acquiring an additional 930 shares during the period. Headlands Technologies LLC increased its stake in shares of Allegiant Travel by 170.6% during the second quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock worth $127,000 after acquiring an additional 1,590 shares during the period. SG Americas Securities LLC acquired a new position in shares of Allegiant Travel during the first quarter worth about $141,000. Finally, Commerce Bank acquired a new position in shares of Allegiant Travel during the fourth quarter worth about $201,000. 85.81% of the stock is owned by hedge funds and other institutional investors.

Allegiant Travel Stock Performance

Shares of ALGT opened at $46.15 on Tuesday. The firm’s 50 day moving average is $43.83 and its 200-day moving average is $52.76. The stock has a market capitalization of $841.41 million, a P/E ratio of 14.60, a P/E/G ratio of 5.50 and a beta of 1.64. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.74 and a quick ratio of 0.71. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $85.91.

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

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Barclays reduced their price target on shares of Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Evercore ISI reduced their price target on shares of Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating on the stock in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft downgraded shares of Allegiant Travel from a “buy” rating to a “hold” rating and reduced their price target for the company from $75.00 to $53.00 in a report on Monday, July 8th. Morgan Stanley reduced their price target on shares of Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. Finally, Susquehanna reduced their price target on shares of Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Allegiant Travel has an average rating of “Hold” and an average target price of $59.50.

Insider Transactions at Allegiant Travel

In related news, Director Gary Ellmer sold 1,000 shares of Allegiant Travel stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the transaction, the director now 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 accessible through this hyperlink. 17.50% of the stock is owned by corporate insiders.

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.