Diamond Hill Capital: “We Like Allegiant Travel Company (ALGT)’s Focus on Leisure Travel”
Diamond Hill Capital, an investment advisor, released its “Small-Mid Cap Strategy” second quarter 2022 investor letter. A copy of the same can be downloaded here. The second quarter was challenging for US stocks and the Russell 1000 Index fell by more than 16%. The fund generated negative returns in the quarter but held better than the Russell 2500 Index. In addition, you can check the top 5 holdings of the fund to know its best choices in 2022.
Diamond Hill Capital discussed stocks like Allegiant Travel Company (NASDAQ:ALGT) in the second quarter 2022 investor letter. Headquartered 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. One-month return of Allegiant Travel Company (NASDAQ:ALGT) was -23.61% and its shares lost 63.96% of their value over the last 52 weeks. Allegiant Travel Company (NASDAQ:ALGT) has a market capitalization of $1.327 billion.
Here is what Diamond Hill Capital specifically said about Allegiant Travel Company (NASDAQ:ALGT) in its Q2 2022 investor letter:
"Similar to Red Rock, shares of leisure-travel focused airline Allegiant Travel Company (NASDAQ:ALGT) were weak along with airlines in general on questions surrounding consumer spending health. Looking forward, we like Allegiant’s focus on leisure travel, where customers tend to be stickier. Further, in Q2 Allegiant announced earnings showing the airline has been able to pass along higher 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. As per our database, 25 hedge fund portfolios held Allegiant Travel Company (NASDAQ:ALGT) at the end of the second quarter which was 24 in the previous quarter.
We discussed Allegiant Travel Company (NASDAQ:ALGT) in another article and shared Diamond Hill Capital’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.
