International Assets Investment Management LLC Purchases New Shares in Allegiant Travel (NASDAQ:ALGT)

International Assets Investment Management LLC purchased a new position in shares of Allegiant Travel (NASDAQ:ALGT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 171,105 shares of the transportation company’s stock, valued at approximately $141,350,000. Allegiant Travel accounts for about 0.4% of International Assets Investment Management LLC’s holdings, making the stock its 23rd largest position. International Assets Investment Management LLC owned about 0.93% of Allegiant Travel at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALGT. Swiss National Bank increased its position in shares of Allegiant Travel by 2.0% during the third quarter. Swiss National Bank now owns 10,128 shares of the transportation company’s stock worth $778,000 after acquiring an additional 200 shares during the last quarter. Headlands Technologies LLC raised its position in shares of Allegiant Travel by 13.0% in the 3rd quarter. Headlands Technologies LLC now owns 3,673 shares of the transportation company’s stock valued at $282,000 after purchasing an additional 423 shares in the last quarter. 180 Wealth Advisors LLC boosted its stake in shares of Allegiant Travel by 13.4% during the 3rd quarter. 180 Wealth Advisors LLC now owns 6,874 shares of the transportation company’s stock valued at $528,000 after buying an additional 814 shares during the last quarter. SeaCrest Wealth Management LLC grew its position in shares of Allegiant Travel by 35.9% during the fourth quarter. SeaCrest Wealth Management LLC now owns 3,595 shares of the transportation company’s stock worth $284,000 after buying an additional 950 shares in the last quarter. Finally, First Pacific Advisors LP grew its position in shares of Allegiant Travel by 4.4% during the third quarter. First Pacific Advisors LP now owns 25,902 shares of the transportation company’s stock worth $1,991,000 after buying an additional 1,092 shares in the last quarter. 85.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Allegiant Travel

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

Analyst Upgrades and Downgrades

ALGT has been the topic of several research analyst reports. Susquehanna reduced their price target on shares of Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 9th. TD Cowen upped their price target on Allegiant Travel from $82.00 to $85.00 and gave the company a “market perform” rating in a research report on Tuesday, February 6th. Barclays reduced their price objective on Allegiant Travel from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Friday, April 5th. UBS Group initiated coverage on shares of Allegiant Travel in a research note on Wednesday, March 20th. They set a “sell” rating and a $58.00 target price for the company. Finally, 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. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $89.75.

Allegiant Travel Stock Performance

Shares of ALGT opened at $54.37 on Friday. The firm has a fifty day moving average of $67.62 and a 200-day moving average of $72.11. The company has a market cap of $991.17 million, a price-to-earnings ratio of 8.60, a price-to-earnings-growth ratio of 0.94 and a beta of 1.63. 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 has a 1 year low of $52.38 and a 1 year high of $130.93.

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

Allegiant Travel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date was Wednesday, February 14th. Allegiant Travel’s dividend payout ratio (DPR) is 37.97%.

Allegiant Travel Company 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, 2024, it operated a fleet of 126 Airbus A320 series aircraft.