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

Allegiant Travel (NASDAQ:ALGT) – Seaport Res Ptn raised their FY2024 earnings per share (EPS) 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 per share of $2.42 for the year, up from their prior 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.

A number of other analysts have also recently commented on the stock. Susquehanna boosted their target price 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. Morgan Stanley lifted their price objective on Allegiant Travel from $80.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. Evercore ISI increased their target price on Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. TD Cowen lifted their price target on Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, December 17th. Finally, Wolfe Research downgraded Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $68.00.

Allegiant Travel Stock Performance

NASDAQ:ALGT opened at $87.30 on Monday. 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 market capitalization of $1.60 billion, a PE ratio of -58.20, a P/E/G ratio of 7.17 and a beta of 1.67. Allegiant Travel has a fifty-two week low of $36.08 and a fifty-two week high of $94.45. The company has a fifty day moving average of $73.84 and a two-hundred day moving average of $56.81.

Hedge Funds Weigh In On Allegiant Travel

A number of hedge funds have recently made changes to their positions in ALGT. Signaturefd LLC raised its holdings in shares of Allegiant Travel by 149.2% in the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock valued at $25,000 after buying an additional 273 shares during the period. Nisa Investment Advisors LLC increased its stake in Allegiant Travel by 136.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock worth $29,000 after buying an additional 304 shares during the period. Privium Fund Management UK Ltd lifted its holdings in Allegiant Travel by 3.5% during the 3rd quarter. Privium Fund Management UK Ltd now owns 10,549 shares of the transportation company’s stock worth $581,000 after buying an additional 358 shares in the last quarter. SeaCrest Wealth Management LLC lifted its holdings in 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 buying an additional 450 shares in the last quarter. Finally, Inspire Investing LLC boosted its position in Allegiant Travel by 8.1% in the 3rd quarter. Inspire Investing LLC now owns 7,490 shares of the transportation company’s stock valued at $412,000 after buying an additional 562 shares during the period. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Insider Buying and Selling

In other Allegiant Travel news, COO Keny Frank Wilper sold 635 shares of the company’s stock in a transaction dated 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 owns 16,353 shares of the company’s stock, valued at $1,025,169.57. This represents a 3.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 sale, the chairman now owns 2,147,730 shares of the company’s stock, valued at approximately $181,397,275.80. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,600 shares of company stock worth $2,476,465. Insiders own 15.80% of the company’s stock.

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.