Allegiant Travel (NASDAQ:ALGT) Shares Up 2.8%

Allegiant Travel (NASDAQ:ALGT) shares were up 2.8% during mid-day trading on Wednesday . The company traded as high as $62.72 and last traded at $62.24. Approximately 11,642 shares were traded during trading, a decline of 95% from the average daily volume of 255,146 shares. The stock had previously closed at $60.52.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ALGT shares. Raymond James dropped their price objective on Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating on the stock in a report on Tuesday, February 6th. Barclays lowered their price target on Allegiant Travel from $65.00 to $60.00 and set an “equal weight” rating on the stock in a report on Friday, April 5th. TD Cowen raised their price target on Allegiant Travel from $82.00 to $85.00 and gave the company a “market perform” rating in a report on Tuesday, February 6th. Susquehanna lowered their price target on Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, April 9th. Finally, UBS Group initiated coverage on Allegiant Travel in a report on Wednesday, March 20th. They issued a “sell” rating and a $58.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $89.75.

Allegiant Travel Trading Up 0.8 %

The firm has a 50-day moving average of $71.54 and a 200-day moving average of $73.19. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.80 and a current ratio of 0.83. The firm has a market capitalization of $1.13 billion, a P/E ratio of 9.77, a price-to-earnings-growth ratio of 1.04 and a beta of 1.58.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Monday, February 5th. The transportation company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.52. The business had revenue of $611.00 million for the quarter, compared to analyst estimates of $596.42 million. Allegiant Travel had a return on equity of 3.80% and a net margin of 4.54%. Allegiant Travel’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the company earned $3.17 EPS. On average, equities research analysts anticipate that Allegiant Travel will post 4.83 EPS for the current fiscal year.

Allegiant Travel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 15th were given a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.89%. Allegiant Travel’s dividend payout ratio is currently 37.97%.

Insider Transactions at Allegiant Travel

In other news, Director Gary Ellmer sold 2,000 shares of Allegiant Travel stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $79.10, for a total value of $158,200.00. Following the sale, the director now directly owns 8,490 shares in the company, valued at approximately $671,559. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 17.50% of the company’s stock.

Institutional Inflows and Outflows

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

About Allegiant Travel

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.