Allegiant Travel (NASDAQ:ALGT) Shares Up 2.8%

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. UBS Group assumed coverage on Allegiant Travel in a research report on Wednesday, March 20th. They set a “sell” rating and a $58.00 price objective on the stock. Raymond James decreased their price objective on Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 6th. Barclays cut their target price 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. Susquehanna cut their target price on Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 9th. Finally, TD Cowen upped their target price on Allegiant Travel from $82.00 to $85.00 and gave the company a “market perform” rating in a research note on Tuesday, February 6th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $89.75.

Allegiant Travel Stock Performance

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

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data 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. Allegiant Travel had a return on equity of 3.80% and a net margin of 4.54%. The company had revenue of $611.00 million for the quarter, compared to analysts’ expectations of $596.42 million. During the same quarter in the prior year, the firm earned $3.17 earnings per share. Allegiant Travel’s revenue was down .1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Allegiant Travel will post 4.83 EPS for the current fiscal year.

Allegiant Travel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Thursday, February 15th were given a dividend of $0.60 per share. The ex-dividend date was Wednesday, February 14th. This represents a $2.40 annualized dividend and a yield of 3.89%. Allegiant Travel’s dividend payout ratio (DPR) is presently 37.97%.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 2,000 shares of the 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 sale, the director now owns 8,490 shares of the company’s stock, valued at approximately $671,559. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Allegiant Travel

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Allegiant Travel by 0.4% in the 1st quarter. BlackRock Inc. now owns 2,355,920 shares of the transportation company’s stock valued at $382,578,000 after buying an additional 8,810 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Allegiant Travel by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,675,544 shares of the transportation company’s stock valued at $122,281,000 after buying an additional 20,482 shares during the period. T. Rowe Price Investment Management Inc. increased 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 in the last quarter. Price T Rowe Associates Inc. MD increased 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 in the last quarter. Finally, Diamond Hill Capital Management Inc. increased its stake in shares of Allegiant Travel by 11.7% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 861,674 shares of the transportation company’s stock valued at $66,228,000 after purchasing an additional 90,496 shares in the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

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.