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

Allegiant Travel (NASDAQ:ALGT – Get Free Report) was the target of a significant 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. Currently, 9.7% of the shares of the stock are sold short. Based on an average daily volume of 403,400 shares, the short-interest ratio is currently 3.6 days.

Allegiant Travel Stock Performance

ALGT stock opened at $49.71 on Monday. The firm has a 50 day moving average of $51.53 and a two-hundred day moving average of $64.91. Allegiant Travel has a 12 month low of $43.91 and a 12 month high of $130.93. The company has a market capitalization of $906.21 million, a price-to-earnings ratio of 15.73, a P/E/G ratio of 1.80 and a beta of 1.66. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 1.35.

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 analysts’ consensus estimates of $0.51 by $0.06. Allegiant Travel had a net margin of 2.26% and a return on equity of 0.50%. The firm had revenue of $656.70 million during the quarter, compared to analysts’ expectations of $645.23 million. During the same period in the prior year, the company posted $3.04 earnings per share. Allegiant Travel’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities analysts anticipate that Allegiant Travel will post 3.46 EPS for the current fiscal year.

Allegiant Travel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 15th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date of this dividend was Tuesday, May 14th. Allegiant Travel’s payout ratio is 75.95%.

Insider Activity at Allegiant Travel

In other Allegiant Travel news, EVP Robert Paul Wilson III sold 750 shares of the company’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 owns 74,948 shares of the company’s stock, valued at $3,972,244. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Robert Paul Wilson III sold 750 shares of the 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 transaction, the executive vice president now owns 74,948 shares in the company, valued at approximately $3,972,244. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Keny Frank Wilper sold 1,000 shares of Allegiant Travel stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $51.00, for a total value of $51,000.00. Following the completion of the transaction, the chief operating officer now directly owns 9,422 shares in the company, valued at approximately $480,522. The disclosure for this sale can be found here. Insiders sold a total of 26,037 shares of company stock valued at $1,395,948 over the last ninety days. Insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALGT. CWM LLC raised its position in shares of Allegiant Travel by 275.1% in the second quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 930 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Allegiant Travel by 7.9% in the 2nd 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 period. Interval Partners LP acquired a new position in Allegiant Travel during the 1st quarter worth $5,641,000. PAX Financial Group LLC bought a new stake in Allegiant Travel during the first quarter valued at about $620,000. Finally, Donald Smith & CO. Inc. grew its position in shares of Allegiant Travel by 106.7% in the first 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 last quarter. 85.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on ALGT shares. Barclays cut their target price on shares of Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft lowered Allegiant Travel from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $75.00 to $53.00 in a research report on Monday, July 8th. Morgan Stanley dropped their target price on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. Susquehanna decreased their price target on shares of Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday, April 9th. Finally, UBS Group assumed coverage on shares of Allegiant Travel in a research note on Wednesday, March 20th. They issued a “sell” rating and a $58.00 price objective on the stock. Two investment 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’s stock. Based on data from MarketBeat.com, Allegiant Travel presently has a consensus rating of “Hold” and a consensus price target of $72.25.

Read Our Latest Analysis on Allegiant Travel

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.

Further Reading

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