What is Seaport Res Ptn’s Forecast for ALGT FY2024 Earnings?

Allegiant Travel (NASDAQ:ALGT) – Stock analysts at Seaport Res Ptn decreased their FY2024 earnings per share (EPS) estimates for shares of Allegiant Travel in a note issued to investors on Thursday, October 31st. Seaport Res Ptn analyst D. Mckenzie now anticipates that the transportation company will post earnings of $1.13 per share for the year, down from their prior forecast of $1.95. The consensus estimate for Allegiant Travel’s current full-year earnings is $1.27 per share. Seaport Res Ptn also issued estimates for Allegiant Travel’s Q4 2024 earnings at $0.75 EPS.

ALGT has been the subject of a number of other reports. Barclays reduced their price objective on shares of Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. TD Cowen increased their price target on Allegiant Travel from $42.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft downgraded Allegiant Travel from a “buy” rating to a “hold” rating and lowered their price objective for the company from $75.00 to $53.00 in a research report on Monday, July 8th. Susquehanna increased their target price on Allegiant Travel from $40.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley lowered their price target on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Allegiant Travel has an average rating of “Hold” and a consensus target price of $64.13.

Allegiant Travel Price Performance

NASDAQ ALGT opened at $63.01 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.30. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $85.91. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -42.01, a PEG ratio of 4.25 and a beta of 1.61. The company’s 50 day moving average is $51.72 and its two-hundred day moving average is $50.90.

Hedge Funds Weigh In On Allegiant Travel

Hedge funds and other institutional investors have recently modified their holdings of the business. ProShare Advisors LLC lifted its position in shares of Allegiant Travel by 6.9% during the first quarter. ProShare Advisors LLC now owns 3,155 shares of the transportation company’s stock valued at $237,000 after buying an additional 203 shares during the last quarter. Signaturefd LLC boosted its stake in Allegiant Travel by 149.2% in the third quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 273 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings 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 purchasing an additional 304 shares during the last quarter. Privium Fund Management UK Ltd increased its position in shares of Allegiant Travel by 4.5% during the second quarter. Privium Fund Management UK Ltd now owns 10,191 shares of the transportation company’s stock worth $504,000 after purchasing an additional 438 shares in the last quarter. Finally, SeaCrest Wealth Management LLC lifted its holdings 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 valued at $331,000 after purchasing an additional 450 shares during the last quarter. 85.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Allegiant Travel

In other news, COO Keny Frank Wilper sold 635 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total transaction of $39,808.15. Following the sale, the chief operating officer now directly owns 16,353 shares of the company’s stock, valued at $1,025,169.57. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Keny Frank Wilper sold 635 shares of Allegiant Travel stock in a transaction that occurred on 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 owns 16,353 shares in the company, valued at approximately $1,025,169.57. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary Ellmer sold 1,000 shares of the 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 sale, the director now owns 7,490 shares in the company, valued at $337,050. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,334 shares of company stock worth $117,158 in the last quarter. 15.80% 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.