Seaport Res Ptn Predicts Lower Earnings for Allegiant Travel

Allegiant Travel (NASDAQ:ALGT) – Equities researchers at Seaport Res Ptn reduced their FY2027 earnings per share estimates for shares of Allegiant Travel in a note issued to investors on Wednesday, December 18th. Seaport Res Ptn analyst D. Mckenzie now expects that the transportation company will post earnings of $12.00 per share for the year, down from their previous forecast of $12.50. The consensus estimate for Allegiant Travel’s current full-year earnings is $1.00 per share.

Several other brokerages have also commented on ALGT. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $83.00 price objective on shares of Allegiant Travel in a research report on Friday, November 15th. TD Cowen raised their price target on shares of Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday. Evercore ISI boosted their price objective on shares of Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Wolfe Research lowered Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Finally, Barclays boosted their price target on Allegiant Travel from $50.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Allegiant Travel currently has an average rating of “Hold” and an average target price of $68.00.

Allegiant Travel Trading Up 1.6 %

Allegiant Travel stock opened at $82.12 on Friday. Allegiant Travel has a one year low of $36.08 and a one year high of $94.45. The stock has a market cap of $1.51 billion, a PE ratio of -54.75, a price-to-earnings-growth ratio of 7.17 and a beta of 1.67. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The stock has a 50-day moving average of $73.31 and a two-hundred day moving average of $56.55.

Insider Transactions at Allegiant Travel

In other news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $84.46, for a total transaction of $2,391,822.74. Following the sale, the chairman now directly owns 2,147,730 shares in the company, valued at $181,397,275.80. This trade represents a 1.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Keny Frank Wilper sold 635 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total value of $39,808.15. Following the completion of the transaction, the chief operating officer now directly owns 16,353 shares of the company’s stock, valued at $1,025,169.57. The trade was a 3.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,600 shares of company stock worth $2,476,465 over the last quarter. 15.80% of the stock is currently owned by insiders.

Institutional Trading of Allegiant Travel

Institutional investors and hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. purchased a new stake in Allegiant Travel in the 2nd quarter worth $285,000. JB Capital LLC raised its position in shares of Allegiant Travel by 48.0% during the 2nd quarter. JB Capital LLC now owns 6,188 shares of the transportation company’s stock worth $311,000 after purchasing an additional 2,008 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Allegiant Travel by 7.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 215,533 shares of the transportation company’s stock valued at $10,826,000 after buying an additional 15,469 shares in the last quarter. Innealta Capital LLC acquired a new stake in Allegiant Travel in the 2nd quarter worth about $34,000. Finally, Versor Investments LP increased its stake in Allegiant Travel by 34.5% during the 2nd quarter. Versor Investments LP now owns 5,794 shares of the transportation company’s stock worth $291,000 after buying an additional 1,486 shares in the last quarter. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

About Allegiant Travel

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.