Allegiant Travel (NASDAQ:ALGT) Trading Up 2.8%

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

Wall Street Analyst Weigh In

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

Allegiant Travel Stock Up 2.1 %

The company has a debt-to-equity ratio of 1.37, a current ratio of 0.83 and a quick ratio of 0.80. The firm’s fifty day moving average price is $72.16 and its two-hundred day moving average price is $73.36. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 9.58, a price-to-earnings-growth ratio of 0.97 and a beta of 1.58.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Monday, February 5th. The transportation company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.52. Allegiant Travel had a return on equity of 3.80% and a net margin of 4.54%. The firm had revenue of $611.00 million during the quarter, compared to analysts’ expectations of $596.42 million. During the same quarter last year, the firm posted $3.17 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. Sell-side analysts forecast that Allegiant Travel will post 5.22 earnings per share for the current fiscal year.

Allegiant Travel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were issued a $0.60 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.88%. Allegiant Travel’s dividend payout ratio is presently 37.97%.

Insider Activity at Allegiant Travel

In other news, Director Gary Ellmer sold 2,000 shares of the firm’s 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 transaction, the director now owns 8,490 shares in the company, valued at $671,559. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Allegiant Travel

Several institutional investors have recently modified their holdings of the business. Guggenheim Capital LLC increased its position in shares of Allegiant Travel by 5.3% during the 1st quarter. Guggenheim Capital LLC now owns 1,528 shares of the transportation company’s stock valued at $249,000 after purchasing an additional 77 shares during the last quarter. Sei Investments Co. grew its position in shares of Allegiant Travel by 0.3% during the 1st quarter. Sei Investments Co. now owns 28,155 shares of the transportation company’s stock valued at $4,588,000 after acquiring an additional 92 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Allegiant Travel by 1.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,407 shares of the transportation company’s stock worth $809,000 after purchasing an additional 113 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Allegiant Travel by 9.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,306 shares of the transportation company’s stock worth $165,000 after purchasing an additional 118 shares during the period. Finally, Vident Investment Advisory LLC increased its position in Allegiant Travel by 3.3% in the fourth quarter. Vident Investment Advisory LLC now owns 3,779 shares of the transportation company’s stock worth $257,000 after buying an additional 119 shares during the last quarter. 85.81% of the stock is owned by institutional investors.

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.