Squarepoint Ops LLC Reduces Holdings in Allegiant Travel Company $ALGT

Squarepoint Ops LLC lowered its stake in Allegiant Travel Company (NASDAQ:ALGT) by 12.6% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 77,865 shares of the transportation company’s stock after selling 11,195 shares during the quarter. Squarepoint Ops LLC’s holdings in Allegiant Travel were worth $4,279,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Federated Hermes Inc. raised its stake in Allegiant Travel by 12.9% in the 2nd quarter. Federated Hermes Inc. now owns 215,531 shares of the transportation company’s stock valued at $11,843,000 after purchasing an additional 24,557 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of Allegiant Travel during the second quarter worth about $205,000. Jump Financial LLC raised its position in shares of Allegiant Travel by 195.5% in the second quarter. Jump Financial LLC now owns 127,800 shares of the transportation company’s stock valued at $7,023,000 after buying an additional 84,555 shares during the last quarter. Bayforest Capital Ltd lifted its stake in shares of Allegiant Travel by 38.7% during the second quarter. Bayforest Capital Ltd now owns 15,714 shares of the transportation company’s stock valued at $863,000 after buying an additional 4,381 shares during the period. Finally, Hussman Strategic Advisors Inc. acquired a new stake in Allegiant Travel during the second quarter worth approximately $1,154,000. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Analysts Set New Price Targets

ALGT has been the subject of several recent analyst reports. Barclays lifted their target price on shares of Allegiant Travel from $52.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 1st. Morgan Stanley upped their target price on Allegiant Travel from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. Evercore ISI raised their price target on Allegiant Travel from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, September 29th. Deutsche Bank Aktiengesellschaft upgraded Allegiant Travel from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a report on Friday. Finally, Bank of America increased their price objective on shares of Allegiant Travel from $50.00 to $55.00 and gave the stock an “underperform” rating in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $77.91.

Allegiant Travel Price Performance

ALGT stock opened at $87.76 on Tuesday. The company has a market cap of $1.61 billion, a PE ratio of -5.38, a price-to-earnings-growth ratio of 0.58 and a beta of 1.67. The company has a current ratio of 0.98, a quick ratio of 0.95 and a debt-to-equity ratio of 1.76. The stock has a 50-day moving average price of $69.33 and a two-hundred day moving average price of $61.28. Allegiant Travel Company has a 12-month low of $39.80 and a 12-month high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Thursday, May 12th. The transportation company reported $1.18 EPS for the quarter. The company had revenue of $496.88 million for the quarter. Allegiant Travel had a positive return on equity of 5.24% and a negative net margin of 11.36%. As a group, research analysts predict that Allegiant Travel Company will post 7.7 EPS for the current year.

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.