Allegiant Travel (NASDAQ:ALGT) Short Interest Up 12.2% in June

Allegiant Travel (NASDAQ:ALGT – Get Free Report) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 1,470,000 shares, an increase of 12.2% from the June 15th total of 1,310,000 shares. Based on an average daily trading volume, of 403,400 shares, the short-interest ratio is currently 3.6 days. Currently, 9.7% of the shares of the company are short sold.

Allegiant Travel Trading Up 1.7 %

Shares of ALGT stock opened at $50.55 on Tuesday. Allegiant Travel has a 12-month low of $43.91 and a 12-month high of $129.89. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 1.35. The stock’s 50-day moving average price is $51.42 and its 200-day moving average price is $64.67. The stock has a market capitalization of $921.53 million, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 1.83 and a beta of 1.66.

Allegiant Travel (NASDAQ:ALGT – Get Free Report) last issued its earnings results on Tuesday, May 7th. The transportation company reported $0.57 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $645.23 million. During the same period in the previous year, the firm posted $3.04 earnings per share. The business’s revenue was up 1.1% compared to the same quarter last year. Equities research analysts predict that Allegiant Travel will post 3.46 EPS for the current fiscal year.

Allegiant Travel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th were paid a dividend of $0.60 per share. The ex-dividend date was Tuesday, May 14th. This represents a $2.40 annualized dividend and a yield of 4.75%. Allegiant Travel’s payout ratio is currently 75.95%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. TD Cowen lowered their target price on Allegiant Travel from $65.00 to $60.00 and set a “hold” rating on the stock in a research report on Wednesday, May 15th. Deutsche Bank Aktiengesellschaft downgraded Allegiant Travel from a “buy” rating to a “hold” rating and lowered their target price for the company from $75.00 to $53.00 in a research report on Monday, July 8th. Barclays lowered their target price on Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Evercore ISI lowered their target price on Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating on the stock in a research report on Monday. Finally, Susquehanna lowered their price objective on Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Allegiant Travel currently has a consensus rating of “Hold” and a consensus target price of $66.00.

View Our Latest Analysis on ALGT

Insider Transactions at Allegiant Travel

In other news, EVP Robert Paul Wilson III sold 750 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $53.00, for a total value of $39,750.00. Following the transaction, the executive vice president now directly owns 74,948 shares in the company, valued at approximately $3,972,244. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CMO Scott Wayne Deangelo sold 19,687 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $53.68, for a total value of $1,056,798.16. Following the transaction, the chief marketing officer now directly owns 64,812 shares in the company, valued at approximately $3,479,108.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Robert Paul Wilson III sold 750 shares of Allegiant Travel stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $53.00, for a total value of $39,750.00. Following the transaction, the executive vice president now owns 74,948 shares in the company, valued at $3,972,244. The disclosure for this sale can be found here. Insiders have sold a total of 26,037 shares of company stock worth $1,395,948 in the last ninety days. Insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

Several large investors have recently added to or reduced their stakes in the stock. ProShare Advisors LLC increased its stake in Allegiant Travel by 6.9% during the first quarter. ProShare Advisors LLC now owns 3,155 shares of the transportation company’s stock worth $237,000 after acquiring an additional 203 shares during the last quarter. GAMMA Investing LLC bought a new stake in Allegiant Travel during the fourth quarter worth approximately $28,000. 180 Wealth Advisors LLC increased its stake in Allegiant Travel by 5.7% during the first quarter. 180 Wealth Advisors LLC now owns 7,291 shares of the transportation company’s stock worth $548,000 after acquiring an additional 392 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in Allegiant Travel by 7.9% during the second quarter. Harbor Capital Advisors Inc. now owns 7,591 shares of the transportation company’s stock worth $381,000 after acquiring an additional 553 shares during the last quarter. Finally, Oldfield Partners LLP increased its stake in Allegiant Travel by 2.3% during the first quarter. Oldfield Partners LLP now owns 32,934 shares of the transportation company’s stock worth $2,477,000 after acquiring an additional 734 shares during the last quarter. 85.81% of the stock is owned by institutional investors.

About Allegiant Travel

(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.

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