Allegiant Travel (NASDAQ:ALGT – Get Free Report) stock fell 4.9% during Friday trading. The company traded as low as $47.26 and was last trading at $47.26. About 159,132 shares traded hands during the session, down 49% from the average daily volume of 313,635. The stock had previously closed at $49.71.
Wall Street analysts predict growth
Several research analysts have recently commented on ALGT stock. TD Cowen lowered their price objective on Allegiant Travel from $65.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, May 15th. Barclays lowered their price objective on shares of Allegiant Travel from $60.00 to $55.00 and gave the company an “equal weight” rating in a research report on Thursday, May 9th. UBS Group initiated coverage on shares of Allegiant Travel in a research report on Wednesday, March 20th. They assigned a “sell” rating and a $58.00 price objective on the stock. Finally, Susquehanna cut their price target on Allegiant Travel from $76.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, five have rated it with a hold rating, and one has rated it with a buy rating. The company has an average rating of “Hold” and a consensus price target of $77.57, according to MarketBeat data.
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Allegiant Travel stock falls 8.9%
The company has a market capitalization of $826.09 million, a price-to-earnings ratio of 14.34, a P/E/G ratio of 1.33, and a beta of 1.66. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.76, and a quick ratio of 0.74. The company’s fifty-day average price is $52.30 and its 200-day average price is $66.30.
Allegiant Travel (NASDAQ:ALGT – Get Free Report) last reported its financial results on Tuesday, May 7th. The transportation company reported EPS of $0.57 for the quarter, beating the consensus estimate of $0.51 by $0.06. Allegiant Travel reported a return on equity of 0.50% and a net margin of 2.26%. The company had revenue of $656.70 million for the quarter, compared to the consensus estimate of $645.23 million. During the same period last year, the company earned $3.04 per share. The company’s quarterly revenue increased 1.1% on a year-over-year basis. Sell-side analysts expect Allegiant Travel to post earnings of $3.62 per share for the current fiscal year.
Allegiant Travel Announces Dividends
The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record as of Wednesday, May 15th received a dividend of $0.60 per share. The ex-dividend date for this dividend was Tuesday, May 14th. This represents an annualized dividend of $2.40 and a yield of 5.30%. Allegiant Travel’s dividend payout ratio is currently 75.95%.
Insiders place their bets
In related news, Executive Vice President Robert Paul Wilson III sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were priced at an average of $53.00, for a total transaction of $39,750.00. Following the close of the transaction, the Executive Vice President now owns 74,948 shares of the company’s stock, valued at $3,972,244. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. In related news, Chief Operating Officer Keny Frank Wilper sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were priced at an average of $51.00, for a total value of $51,000.00. Following the sale, the COO now directly owns 9,422 shares of the company’s stock, valued at $480,522. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. Additionally, Executive Vice President Robert Paul Wilson III sold 750 shares of the company’s stock in a transaction that took place on Tuesday, June 4th. The shares were sold at an average price of $53.00, for a total transaction of $39,750.00. Following the sale, the Executive Vice President now directly owns 74,948 shares of the company’s stock, valued at approximately $3,972,244. The disclosure of this sale can be found here. Insiders have sold 26,037 shares of the company’s stock valued at $1,395,948 in the last ninety days. 17.50% of the shares are currently held by insiders.
Hedge Funds Weigh in on Allegiant Travel
Several institutional investors have recently added to or reduced their holdings in the company. Vanguard Group Inc. increased its stake in shares of Allegiant Travel by 2.3% in the first quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock valued at $131,591,000 after purchasing an additional 38,612 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Allegiant Travel by 14.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 798,573 shares of the transportation company’s stock valued at $65,972,000 after purchasing an additional 98,662 shares during the last quarter. US Global Investors Inc. increased its position in shares of Allegiant Travel by 23.4% during the fourth quarter. US Global Investors Inc. now owns 647,055 shares of the transportation company’s stock worth $53,453,000 after purchasing an additional 122,844 shares during the period. Franklin Resources Inc. increased its holdings of Allegiant Travel by 15.4% in the 4th quarter. Franklin Resources Inc. now owns 620,180 shares of the transportation company’s stock worth $51,233,000 after purchasing an additional 82,813 shares in the last quarter. Finally, Donald Smith & CO. Inc. increased its position in Allegiant Travel by 106.7% during the 1st quarter. Donald Smith & CO. Inc. now owns 309,781 shares of the transportation company’s stock worth $23,299,000 after purchasing an additional 159,892 shares during the period. 85.81% of the shares are held by institutional investors and hedge funds.
Allegiant Travel Company Profile
(Get a free report)
Allegiant Travel Company, a leisure travel company, provides travel services and products to residents of underserved cities in the United States. The company offers scheduled air transportation on limited-frequency, nonstop flights between underserved 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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