Seaport Res Ptn Has Bullish Outlook for ALGT FY2024 Earnings

Allegiant Travel (NASDAQ:ALGT) – Stock analysts at Seaport Res Ptn lifted their FY2024 earnings estimates for Allegiant Travel in a research report issued on Wednesday, December 18th. Seaport Res Ptn analyst D. Mckenzie now forecasts that the transportation company will post earnings per share of $2.42 for the year, up from their previous forecast of $1.13. The consensus estimate for Allegiant Travel’s current full-year earnings is $1.00 per share. Seaport Res Ptn also issued estimates for Allegiant Travel’s Q4 2024 earnings at $2.05 EPS, Q1 2025 earnings at $2.40 EPS, Q2 2025 earnings at $3.60 EPS, Q3 2025 earnings at ($0.30) EPS and Q4 2025 earnings at $1.80 EPS.

ALGT has been the subject of several other research reports. Susquehanna raised their price objective on Allegiant Travel from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. UBS Group began coverage on shares of Allegiant Travel in a research report on Tuesday, November 26th. They set a “neutral” rating and a $16.00 price target for the company. The Goldman Sachs Group reissued a “neutral” rating and set a $83.00 price objective on shares of Allegiant Travel in a research note on Friday, November 15th. StockNews.com raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Morgan Stanley boosted their price target on Allegiant Travel from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 11th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Allegiant Travel currently has an average rating of “Hold” and a consensus price target of $68.00.

Allegiant Travel Stock Up 2.9 %

Shares of NASDAQ:ALGT opened at $84.47 on Monday. The firm has a market capitalization of $1.55 billion, a P/E ratio of -56.31, a P/E/G 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 price of $73.84 and a 200-day moving average price of $56.78. Allegiant Travel has a 52-week low of $36.08 and a 52-week high of $94.45.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ALGT. Signaturefd LLC lifted its stake in shares of Allegiant Travel by 149.2% in the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after purchasing an additional 273 shares during the period. Nisa Investment Advisors LLC raised its position in Allegiant Travel by 136.9% in the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock worth $29,000 after acquiring an additional 304 shares during the period. Privium Fund Management UK Ltd raised its position in Allegiant Travel by 3.5% in the third quarter. Privium Fund Management UK Ltd now owns 10,549 shares of the transportation company’s stock worth $581,000 after acquiring an additional 358 shares during the period. SeaCrest Wealth Management LLC boosted its stake in shares of Allegiant Travel by 8.1% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 6,010 shares of the transportation company’s stock worth $331,000 after acquiring an additional 450 shares during the last quarter. Finally, Inspire Investing LLC grew its position in shares of Allegiant Travel by 8.1% during the 3rd quarter. Inspire Investing LLC now owns 7,490 shares of the transportation company’s stock valued at $412,000 after acquiring an additional 562 shares during the period. 85.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Allegiant Travel

In other Allegiant Travel news, Director Sandra Douglass Morgan sold 350 shares of Allegiant Travel stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total value of $28,269.50. Following the completion of the sale, the director now owns 11,650 shares of the company’s stock, valued at approximately $940,970.50. The trade was a 2.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Keny Frank Wilper sold 635 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total value of $39,808.15. Following the transaction, the chief operating officer now directly owns 16,353 shares in the company, valued at $1,025,169.57. The trade was a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,600 shares of company stock valued at $2,476,465. 15.80% of the stock is owned by corporate insiders.

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.