Allegiant Travel (NASDAQ:ALGT) Short Interest Up 11.2% in March

Allegiant Travel (NASDAQ:ALGTGet Free Report) was the target of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 765,500 shares, a growth of 11.2% from the February 29th total of 688,200 shares. Currently, 5.1% of the shares of the company are sold short. Based on an average daily trading volume, of 240,700 shares, the short-interest ratio is currently 3.2 days.

Insider Buying and Selling at Allegiant Travel

In other news, Director Gary Ellmer sold 2,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $79.10, for a total transaction of $158,200.00. Following the sale, the director now directly owns 8,490 shares in the company, valued at approximately $671,559. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Allegiant Travel

Hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its stake in Allegiant Travel by 220.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,330,668 shares of the transportation company’s stock worth $150,485,000 after buying an additional 915,511 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in Allegiant Travel by 20.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,590,165 shares of the transportation company’s stock worth $108,116,000 after buying an additional 271,378 shares during the period. Dimensional Fund Advisors LP increased its stake in Allegiant Travel by 52.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 549,490 shares of the transportation company’s stock worth $50,540,000 after buying an additional 188,649 shares during the period. International Assets Investment Management LLC purchased a new stake in Allegiant Travel during the 4th quarter worth $141,350,000. Finally, Donald Smith & CO. Inc. acquired a new position in Allegiant Travel during the 4th quarter worth $12,382,000. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Allegiant Travel Stock Down 1.4 %

Shares of NASDAQ ALGT opened at $75.21 on Monday. Allegiant Travel has a 1 year low of $54.87 and a 1 year high of $130.93. The firm’s 50 day moving average price is $75.58 and its 200 day moving average price is $74.57. The firm has a market cap of $1.38 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 0.89 and a beta of 1.58. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.80 and a current ratio of 0.83.

Allegiant Travel (NASDAQ:ALGTGet Free Report) last posted its quarterly earnings results on Monday, February 5th. The transportation company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.52. The company had revenue of $611.00 million for the quarter, compared to the consensus estimate of $596.42 million. Allegiant Travel had a net margin of 4.54% and a return on equity of 3.80%. Allegiant Travel’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm posted $3.17 earnings per share. As a group, sell-side analysts anticipate that Allegiant Travel will post 6.75 earnings per share for the current year.

Allegiant Travel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 15th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend was Wednesday, February 14th. Allegiant Travel’s dividend payout ratio is presently 37.97%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ALGT. TD Cowen boosted their target price on Allegiant Travel from $82.00 to $85.00 and gave the stock a “market perform” rating in a report on Tuesday, February 6th. UBS Group began 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. Raymond James reduced their price target on shares of Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 6th. Finally, Susquehanna cut their target price on Allegiant Travel from $80.00 to $76.00 and set a “neutral” rating on the stock in a research report on Friday, February 9th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $91.75.

Read Our Latest Stock 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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