Allegiant Travel (NASDAQ:ALGT) Hits New 1-Year Low at $45.20

Shares of Allegiant Travel (NASDAQ:ALGT – Get Free Report) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $45.20 and last traded at $45.20, with a volume of 12265 shares changing hands. The stock had previously closed at $45.31.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ALGT shares. Susquehanna lowered their target price on Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 9th. TD Cowen cut their price objective on shares of Allegiant Travel from $65.00 to $60.00 and set a “hold” rating for the company in a research report on Wednesday, May 15th. Barclays cut their price target on shares of Allegiant Travel from $60.00 to $55.00 and set an “equal weight” rating for the company in a report on Thursday, May 9th. UBS Group started coverage on Allegiant Travel in a report on Wednesday, March 20th. They issued a “sell” rating and a $58.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft cut Allegiant Travel from a “buy” rating to a “hold” rating and reduced their price target for the company from $75.00 to $53.00 in a report on Monday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $74.50.

View Our Latest Research Report on ALGT

Allegiant Travel Stock Performance

The stock’s 50-day moving average price is $52.30 and its 200-day moving average price is $66.20. The company has a market capitalization of $824.00 million, a price-to-earnings ratio of 14.34, a P/E/G ratio of 1.21 and a beta of 1.66. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.74 and a current ratio of 0.76.

Allegiant Travel (NASDAQ:ALGT – Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $656.70 million during the quarter, compared to analysts’ expectations of $645.23 million. Allegiant Travel had a return on equity of 0.50% and a net margin of 2.26%. Allegiant Travel’s revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.04 earnings per share. As a group, equities research analysts expect that Allegiant Travel will post 3.62 earnings per share for the current year.

Allegiant Travel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th were given a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $2.40 annualized dividend and a dividend yield of 5.31%. 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 Allegiant Travel 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 completion of the sale, the executive vice president now owns 74,948 shares of the company’s stock, valued at $3,972,244. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Allegiant Travel news, CMO Scott Wayne Deangelo sold 19,687 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $53.68, for a total value of $1,056,798.16. Following the completion of the sale, the chief marketing officer now owns 64,812 shares of the company’s stock, valued at $3,479,108.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert Paul Wilson III sold 750 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $53.00, for a total transaction of $39,750.00. Following the transaction, the executive vice president now directly owns 74,948 shares in the company, valued at $3,972,244. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,037 shares of company stock valued at $1,395,948. Corporate insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. grew its stake in shares of Allegiant Travel by 17.3% during the third quarter. Invesco Ltd. now owns 80,583 shares of the transportation company’s stock valued at $6,194,000 after acquiring an additional 11,858 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Allegiant Travel by 361.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,316 shares of the transportation company’s stock valued at $332,000 after purchasing an additional 3,380 shares in the last quarter. Kennedy Capital Management LLC purchased a new stake in Allegiant Travel during the 3rd quarter worth approximately $1,177,000. Graham Capital Management L.P. acquired a new position in shares of Allegiant Travel in the 3rd quarter valued at approximately $671,000. Finally, American Century Companies Inc. boosted its stake in shares of Allegiant Travel by 19.4% during the 3rd quarter. American Century Companies Inc. now owns 263,096 shares of the transportation company’s stock valued at $20,222,000 after buying an additional 42,688 shares during the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

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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