Uncommon Cents Investing LLC Lowers Position in Allegiant Travel (NASDAQ:ALGT)

Uncommon Cents Investing LLC lowered its stake in shares of Allegiant Travel (NASDAQ:ALGT) by 6.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,995 shares of the transportation company’s stock after selling 450 shares during the period. Uncommon Cents Investing LLC’s holdings in Allegiant Travel were worth $578,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ALGT. Assenagon Asset Management S.A. purchased a new stake in shares of Allegiant Travel in the fourth quarter valued at about $293,000. American Century Companies Inc. increased its position in Allegiant Travel by 19.4% during the third quarter. American Century Companies Inc. now owns 263,096 shares of the transportation company’s stock worth $20,222,000 after purchasing an additional 42,688 shares during the last quarter. Graham Capital Management L.P. acquired a new position in Allegiant Travel during the third quarter worth approximately $671,000. Morgan Stanley increased its position in Allegiant Travel by 19.1% during the third quarter. Morgan Stanley now owns 280,864 shares of the transportation company’s stock worth $21,587,000 after purchasing an additional 45,059 shares during the last quarter. Finally, Penserra Capital Management LLC increased its position in Allegiant Travel by 14.6% during the third quarter. Penserra Capital Management LLC now owns 2,076 shares of the transportation company’s stock worth $159,000 after purchasing an additional 264 shares during the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Analyst Upgrades and Downgrades

ALGT has been the subject of several research reports. Susquehanna decreased their price objective on shares of Allegiant Travel from $80.00 to $76.00 and set a “neutral” rating for the company in a research note on Friday, February 9th. Raymond James decreased their price objective on shares of Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, February 6th. UBS Group assumed coverage on shares of Allegiant Travel in a research note on Wednesday, March 20th. They issued a “sell” rating and a $58.00 target price for the company. Finally, TD Cowen upped their target price on shares of 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 issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Allegiant Travel currently has a consensus rating of “Hold” and a consensus target price of $91.75.

Allegiant Travel Stock Performance

NASDAQ:ALGT traded down $1.04 during mid-day trading on Thursday, hitting $75.21. The stock had a trading volume of 163,204 shares, compared to its average volume of 246,926. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 12.19, a P/E/G ratio of 0.86 and a beta of 1.58. The company has a 50 day simple moving average of $75.56 and a 200-day simple moving average of $74.82. Allegiant Travel has a 52 week low of $54.87 and a 52 week high of $130.93. The company has a current ratio of 0.83, a quick ratio of 0.80 and a debt-to-equity ratio of 1.37.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Monday, February 5th. The transportation company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.52. Allegiant Travel had a net margin of 4.54% and a return on equity of 3.80%. The company had revenue of $611.00 million for the quarter, compared to the consensus estimate of $596.42 million. During the same period in the previous year, the firm earned $3.17 EPS. Allegiant Travel’s revenue was down .1% on a year-over-year basis. On average, research analysts expect that Allegiant Travel will post 6.75 earnings per share for the current fiscal year.

Allegiant Travel Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 3.19%. Allegiant Travel’s dividend payout ratio (DPR) is 37.97%.

Insiders Place Their Bets

In other news, Director Gary Ellmer sold 2,000 shares of Allegiant Travel stock in a transaction that occurred on Monday, February 12th. The shares were 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 of the company’s stock, valued at approximately $671,559. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.50% of the stock is owned by insiders.

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.