Seaport Res Ptn Has Positive Outlook of ALGT FY2024 Earnings

Allegiant Travel (NASDAQ:ALGT) – Seaport Res Ptn boosted their FY2024 earnings estimates for shares of Allegiant Travel in a report released on Wednesday, December 18th. Seaport Res Ptn analyst D. Mckenzie now expects that the transportation company will post earnings per share of $2.42 for the year, up from their prior estimate 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 a number of other reports. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $83.00 price target on shares of Allegiant Travel in a research note on Friday, November 15th. UBS Group initiated coverage on Allegiant Travel in a research report on Tuesday, November 26th. They set a “neutral” rating and a $16.00 price objective for the company. Barclays raised their target price on Allegiant Travel from $50.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Wolfe Research lowered Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Finally, Susquehanna raised their price objective on shares of Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $68.00.

Allegiant Travel Stock Performance

ALGT stock opened at $90.34 on Monday. The stock has a market cap of $1.66 billion, a P/E ratio of -60.23, 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 firm has a 50 day simple moving average of $75.05 and a 200 day simple moving average of $57.31. Allegiant Travel has a 52 week low of $36.08 and a 52 week high of $94.45.

Institutional Trading of Allegiant Travel

Several institutional investors have recently added to or reduced their stakes in ALGT. Franklin Resources Inc. lifted its holdings in shares of Allegiant Travel by 2.5% during the third quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock worth $34,584,000 after buying an additional 14,852 shares in the last quarter. Barclays PLC raised its stake in Allegiant Travel by 136.9% in the 3rd quarter. Barclays PLC now owns 31,876 shares of the transportation company’s stock worth $1,755,000 after purchasing an additional 18,421 shares in the last quarter. Geode Capital Management LLC raised its stake in Allegiant Travel by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 364,755 shares of the transportation company’s stock worth $20,089,000 after purchasing an additional 5,424 shares in the last quarter. XTX Topco Ltd boosted its holdings in Allegiant Travel by 15.0% in the 3rd quarter. XTX Topco Ltd now owns 17,491 shares of the transportation company’s stock valued at $963,000 after purchasing an additional 2,279 shares during the period. Finally, State Street Corp grew its position in shares of Allegiant Travel by 1.7% during the 3rd quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock worth $33,530,000 after purchasing an additional 10,050 shares in the last quarter. 85.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

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.