LAS VEGAS, Oct. 22 Reporting 969,844 passengers overall compared to the same month last year, Allegiant Travel Company (NASDAQ:ALGT) reported a 1.9% drop in passenger count for September. While available seat miles declined 3.4%, the revenue passenger miles of the airline fell 2.7%. Allegiant's load factor, however, slightly rose 0.5% percentage point to reach 83.3%.

During the month, departures for its planned services dropped 2.2%. Allegiant reported a 0.9% decline in passengers to 4,195,572 for Q3, while revenue passenger miles dropped 1.1% over the period. On Tuesday pre-market, the company's stock dropped 0.41% to $63.12 on the announcement. Moreover, it's important to note that Allegiant, like its peers, continues to navigate the obstacles of changing travel demand and capacity changes.

• Warning! GuruFocus has detected 9 Warning Signs with ALGT.

Nonetheless, the stock remains an excellent condition at this time, reporting a 38% increase in value. However, on a YTD basis, the stock is trading in the negative at 24%, behind the S&P 500's superb gains of upwards of 22%.

This article first appeared on GuruFocus.