Allegiant Travel (NASDAQ:ALGT) Shares Sold by Oldfield Partners LLP

Oldfield Partners LLP lessened its holdings in Allegiant Travel (NASDAQ:ALGT) by 27.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,700 shares of the transportation company’s stock after selling 9,100 shares during the quarter. Allegiant Travel accounts for approximately 0.5% of Oldfield Partners LLP’s holdings, making the stock its 13th largest holding. Oldfield Partners LLP owned 0.13% of Allegiant Travel worth $2,993,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC raised its stake in shares of Allegiant Travel by 32.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 819 shares of the transportation company’s stock worth $56,000 after purchasing an additional 200 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Allegiant Travel by 21.9% in the fourth quarter. Quadrant Capital Group LLC now owns 923 shares of the transportation company’s stock worth $63,000 after purchasing an additional 166 shares during the last quarter. Signaturefd LLC raised its stake in shares of Allegiant Travel by 21.8% in the first quarter. Signaturefd LLC now owns 1,163 shares of the transportation company’s stock worth $107,000 after purchasing an additional 208 shares during the last quarter. Captrust Financial Advisors raised its stake in shares of Allegiant Travel by 20.7% in the second quarter. Captrust Financial Advisors now owns 980 shares of the transportation company’s stock worth $111,000 after purchasing an additional 168 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Allegiant Travel by 34.4% in the first quarter. Tower Research Capital LLC TRC now owns 1,273 shares of the transportation company’s stock worth $117,000 after purchasing an additional 326 shares during the last quarter. Institutional investors and hedge funds own 81.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Raymond James lifted their price target on Allegiant Travel from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, August 3rd. Evercore ISI reduced their price target on Allegiant Travel from $125.00 to $110.00 and set an “in-line” rating for the company in a research report on Monday, August 28th. StockNews.com assumed coverage on Allegiant Travel in a research report on Thursday, August 17th. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft upgraded Allegiant Travel from a “hold” rating to a “buy” rating and lifted their price target for the company from $110.00 to $145.00 in a research report on Thursday, June 15th. Finally, Susquehanna lifted their price target on Allegiant Travel from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Allegiant Travel has an average rating of “Hold” and a consensus price target of $110.55.

Allegiant Travel Price Performance

Shares of NASDAQ:ALGT traded up $0.67 during trading on Tuesday, reaching $82.98. The stock had a trading volume of 49,974 shares, compared to its average volume of 209,737. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.10 and a current ratio of 1.13. The business has a fifty day moving average price of $104.83 and a 200-day moving average price of $103.46. The stock has a market cap of $1.53 billion, a PE ratio of 10.06 and a beta of 1.72. Allegiant Travel has a 1-year low of $62.94 and a 1-year high of $130.93.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings results on Wednesday, August 2nd. The transportation company reported $4.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.63 by $0.72. The firm had revenue of $683.81 million for the quarter, compared to analyst estimates of $662.10 million. Allegiant Travel had a return on equity of 7.46% and a net margin of 5.87%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 earnings per share. On average, equities analysts forecast that Allegiant Travel will post 10.04 earnings per share for the current fiscal year.

Allegiant Travel Dividend Announcement

The company also recently declared a — dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were paid a $0.60 dividend. The ex-dividend date was Monday, August 14th. Allegiant Travel’s dividend payout ratio is presently 29.34%.

Insider Transactions at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 2,000 shares of the business’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $104.76, for a total transaction of $209,520.00. Following the transaction, the director now owns 10,490 shares of the company’s stock, valued at $1,098,932.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 17.50% of the company’s stock.

Allegiant Travel Profile

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, 2023, it operated a fleet of 122 Airbus A320 series aircraft.