Allegiant Travel (NASDAQ:ALGT – Get Free Report ) has seen a significant increase in short interest during the month of June. As of June 30, short interest totaled 1,470,000 shares, up 12.2% from a total of 1,310,000 shares on June 15. Based on an average daily trading volume of 403,400 shares, the short interest ratio is currently at 3.6 days. Currently, 9.7% of the company’s shares are sold short.
Allegiant Travel trading up 1.7%
ALGT shares opened trading at $50.55 on Tuesday. Allegiant Travel’s low and high prices in the last 12 months are $43.91 and $129.89, respectively. The company’s current ratio is 0.76, quick ratio is 0.74 and debt-to-equity ratio is 1.35. The stock’s 50-day moving average price is $51.42 and 200-day moving average price is $64.67. The stock has a market capitalization of $921.53 million, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 1.83 and a beta of 1.66.
Allegiant Travel (NASDAQ:ALGT – Get free report ) announced its latest earnings results on Tuesday, May 7th. The transportation company reported quarterly earnings per share (EPS) of $0.57, beating the consensus estimate of $0.51 by $0.06. Allegiant Travel had a return on equity of 0.50% and a net margin of 2.26%. The company’s revenue for the quarter was $656.70 million, beating analyst expectations of $645.23 million. Year-over-year earnings per share were $3.04. The company’s revenue grew 1.1% year-over-year. Equity research analysts expect Allegiant Travel to post 3.46 EPS for the current fiscal year.
Allegiant Travel Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th were paid a dividend of $0.60 per share. The ex-dividend date is Tuesday, May 14th. This equates to an annualized dividend of $2.40 and a yield of 4.75%. Allegiant Travel’s dividend payout ratio is currently 75.95%.
Analyst upgrades and downgrades
Several equities analysts have recently commented on the company. TD Cowen lowered their price target on Allegiant Travel from $65.00 to $60.00 and set a “hold” rating on the stock in a research report on Wednesday, May 15th. Deutsche Bank Aktiengesellschaft lowered Allegiant Travel from a “buy” rating to a “hold” rating and lowered their price target for the company from $75.00 to $53.00 in a research report on Monday, July 8th. Barclays lowered their price target for Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Evercore ISI lowered their price target for Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating on the stock in a research report on Monday. Finally, Susquehanna lowered their price target on Allegiant Travel from $76.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 9. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, and one has given a buy rating. Based on MarketBeat data, Allegiant Travel currently has a consensus rating of “hold” and a consensus price target of $66.00.
View our latest analysis for ALGT
Insider Trading at Allegiant Travel
In other news, Executive VP, Robert Paul Wilson III sold 750 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $53.00, for a total value of $39,750.00. With this transaction, the Executive VP now directly owns 74,948 shares of the company’s stock, valued at approximately $3,972,244. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link . In other news, CMO, Scott Wayne DeAngelo sold 19,687 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $53.68, for a total value of $1,056,798.16. Following the transaction, the Chief Marketing Officer now directly owns 64,812 shares of the company’s stock, valued at approximately $3,479,108.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Additionally, Executive Vice President, Robert Paul Wilson III sold 750 shares of Allegiant Travel stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $53.00, for a total value of $39,750.00. Following this transaction, the Executive Vice President now owns 74,948 shares of the company’s stock, valued at $3,972,244. The disclosure for this sale can be found here. Insiders have sold a total of 26,037 shares of the company’s stock in the last 90 days, valued at $1,395,948. Insiders own 17.50% of the company’s shares.
Institutional Investors Speak Out on Allegiant Travel
Several large investors recently increased or decreased their holdings in Allegiant Travel. ProShare Advisors LLC increased its holdings in Allegiant Travel by 6.9% in the first quarter. ProShare Advisors LLC now owns 3,155 shares of the transportation company’s stock valued at $237,000 after acquiring an additional 203 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Allegiant Travel in the fourth quarter valued at approximately $28,000. 180 Wealth Advisors LLC increased its holdings in Allegiant Travel by 5.7% in the first quarter. 180 Wealth Advisors LLC now owns 7,291 shares of the transportation company’s stock valued at $548,000 after acquiring an additional 392 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in Allegiant Travel by 7.9% during the second quarter. Harbor Capital Advisors Inc. now owns 7,591 shares of the transportation company’s stock, valued at $381,000, after acquiring an additional 553 shares during the last quarter. Finally, Oldfield Partners LLP increased its stake in Allegiant Travel by 2.3% during the first quarter. Oldfield Partners LLP now owns 32,934 shares of the transportation company’s stock, valued at $2,477,000, after acquiring an additional 734 shares during the last quarter. 85.81% of the stock is owned by institutional investors.
About Allegiant Travel
(Get your free report)
Allegiant Travel Company, a leisure travel company, provides travel services and products to residents of underserved cities across the United States. The company offers scheduled air transportation with limited frequency nonstop flights between underserved cities and leisure destinations. As of February 1, 2024, the company operates a fleet of 126 Airbus A320 Series aircraft.
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