Allegiant Travel (NASDAQ:ALGT) Shares Down 4.9%

Allegiant Travel (NASDAQ:ALGT – Get Free Report)’s share price was down 4.9% during trading on Friday . The company traded as low as $47.26 and last traded at $47.26. Approximately 159,132 shares were traded during trading, a decline of 49% from the average daily volume of 313,635 shares. The stock had previously closed at $49.71.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ALGT shares. TD Cowen dropped their price target on Allegiant Travel from $65.00 to $60.00 and set a “hold” rating for the company in a research note on Wednesday, May 15th. Barclays dropped their target price on shares of Allegiant Travel from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. UBS Group initiated coverage on shares of Allegiant Travel in a research report on Wednesday, March 20th. They set a “sell” rating and a $58.00 price target on the stock. Finally, Susquehanna reduced their target price on Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $77.57.

Get Our Latest Stock Report on ALGT

Allegiant Travel Stock Down 8.9 %

The company has a market capitalization of $826.09 million, a price-to-earnings ratio of 14.34, a P/E/G ratio of 1.33 and a beta of 1.66. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.76 and a quick ratio of 0.74. The firm’s fifty day moving average price is $52.30 and its 200-day moving average price is $66.30.

Allegiant Travel (NASDAQ:ALGT – Get Free Report) last posted its earnings results on Tuesday, May 7th. The transportation company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.51 by $0.06. Allegiant Travel had a return on equity of 0.50% and a net margin of 2.26%. The firm had revenue of $656.70 million during the quarter, compared to the consensus estimate of $645.23 million. During the same period last year, the company earned $3.04 earnings per share. The business’s quarterly revenue was up 1.1% on a year-over-year basis. Sell-side analysts expect that Allegiant Travel will post 3.62 earnings per share for the current fiscal year.

Allegiant Travel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 15th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $2.40 annualized dividend and a yield of 5.30%. Allegiant Travel’s dividend payout ratio is presently 75.95%.

Insiders Place Their Bets

In other news, EVP Robert Paul Wilson III sold 750 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $53.00, for a total transaction of $39,750.00. Following the completion of the transaction, the executive vice president now owns 74,948 shares of the company’s stock, valued at $3,972,244. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Keny Frank Wilper sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $51.00, for a total value of $51,000.00. Following the sale, the chief operating officer now directly owns 9,422 shares in the company, valued at $480,522. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Paul Wilson III sold 750 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $53.00, for a total transaction of $39,750.00. Following the sale, the executive vice president now directly owns 74,948 shares of the company’s stock, valued at approximately $3,972,244. The disclosure for this sale can be found here. Insiders have sold 26,037 shares of company stock valued at $1,395,948 in the last ninety days. 17.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Allegiant Travel

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Allegiant Travel by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock valued at $131,591,000 after buying an additional 38,612 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Allegiant Travel by 14.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 798,573 shares of the transportation company’s stock valued at $65,972,000 after acquiring an additional 98,662 shares in the last quarter. U S Global Investors Inc. raised its position in shares of Allegiant Travel by 23.4% during the fourth quarter. U S Global Investors Inc. now owns 647,055 shares of the transportation company’s stock worth $53,453,000 after purchasing an additional 122,844 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Allegiant Travel by 15.4% in the 4th quarter. Franklin Resources Inc. now owns 620,180 shares of the transportation company’s stock worth $51,233,000 after purchasing an additional 82,813 shares in the last quarter. Finally, Donald Smith & CO. Inc. grew its position in Allegiant Travel by 106.7% in the 1st quarter. Donald Smith & CO. Inc. now owns 309,781 shares of the transportation company’s stock valued at $23,299,000 after purchasing an additional 159,892 shares during the period. 85.81% of the stock is owned by institutional investors and hedge funds.

Allegiant Travel Company Profile

(Get Free Report)

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.

Further Reading

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