“We like the focus of Allegiant Travel Company (ALGT) on leisure travel”


Diamond Hill Capitalan investment adviser, has released its Q2 2022 “Small-Mid Cap Strategy” letter to investors. A copy of it may be downloaded here. The second quarter was tough for US equities and the Russell 1000 Index fell more than 16%. The fund generated negative returns during the quarter, but held up better than the Russell 2500 Index. Additionally, you can check out the fund’s top 5 holdings for its top picks in 2022.

Diamond Hill Capital discussed stocks like Allegiant Travel Company (NASDAQ:ALGT) in the Q2 2022 Letter to Investors. Based in Las Vegas, Nevada, Allegiant Travel Company (NASDAQ: ALGT) is a leisure travel company. On September 30, 2022, Allegiant Travel Company (NASDAQ:ALGT) stock closed at $72.98 per share. The one-month return of Allegiant Travel Company (NASDAQ:ALGT) was -23.61% and its shares have lost 63.96% of their value over the past 52 weeks. Allegiant Travel Company (NASDAQ:ALGT) has a market cap of $1.327 billion.

Here is what Diamond Hill Capital specifically said about Allegiant Travel Company (NASDAQ:ALGT) in its Q2 2022 Letter to Investors:

“Similar to Red Rock, the shares of an airline focused on leisure travel Allegiant Travel Company (NASDAQ:ALGT) were weak, as were airlines in general, on consumer spending health issues. Looking ahead, we appreciate Allegiant’s focus on leisure travel, where customers tend to be more loyal. Additionally, in the second quarter, Allegiant reported results showing the airline was able to pass on rising fuel costs without eroding demand, which continues to recover from pandemic-related shutdowns. »

Allegiant Travel Company (NASDAQ:ALGT) is not on our list of 30 most popular stocks among hedge funds. According to our database, 25 hedge fund portfolios held Allegiant Travel Company (NASDAQ:ALGT) at the end of the second quarter, up from 24 in the prior quarter.

We discussed Allegiant Travel Company (NASDAQ:ALGT) in another article and shared Diamond Hill Capital’s views on the company in the prior quarter. Additionally, please see our Letters to Hedge Fund Investors Q2 2022 page for more letters from hedge fund investors and other leading investors.

Disclosure: none. This article originally appeared on Insider Monkey.

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