Allegiant Travel (NASDAQ:ALGT) Shares Down 4.6%

Allegiant Travel (NASDAQ:ALGT) fell 4.6% during trading on Tuesday . The stock traded as low as $53.67 and last traded at $53.67. 37,992 shares were traded during trading, a decline of 86% from the average session volume of 268,564 shares. The stock had previously closed at $56.26.

Wall Street Analysts Forecast Growth

ALGT has been the topic of a number of recent analyst reports. Barclays dropped their price objective on shares of Allegiant Travel from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Thursday. Raymond James decreased their price target on Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating for the company in a report on Tuesday, February 6th. UBS Group assumed coverage on Allegiant Travel in a report on Wednesday, March 20th. They issued a “sell” rating and a $58.00 price objective on the stock. TD Cowen boosted their target price 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. Finally, Susquehanna dropped their price target on shares of Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $89.13.

Allegiant Travel Stock Performance

The company has a market cap of $980.41 million, a PE ratio of 8.51, a PEG ratio of 1.16 and a beta of 1.63. The stock has a 50 day simple moving average of $65.13 and a two-hundred day simple moving average of $71.32. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.83 and a quick ratio of 0.80.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Tuesday, May 7th. The transportation company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.51 by $0.06. Allegiant Travel had a net margin of 4.54% and a return on equity of 3.80%. The firm had revenue of $656.70 million during the quarter, compared to the consensus estimate of $645.23 million. During the same quarter in the prior year, the firm earned $3.04 EPS. Allegiant Travel’s revenue for the quarter was up 1.1% on a year-over-year basis. Equities analysts predict that Allegiant Travel will post 4.61 EPS for the current year.

Allegiant Travel Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.40 annualized dividend and a dividend yield of 4.46%. Allegiant Travel’s dividend payout ratio (DPR) is 37.97%.

Insider Activity at Allegiant Travel

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

Institutional Trading of Allegiant Travel

Several hedge funds have recently modified their holdings of ALGT. Diamond Hill Capital Management Inc. raised its position in Allegiant Travel by 11.7% in the third quarter. Diamond Hill Capital Management Inc. now owns 861,674 shares of the transportation company’s stock worth $66,228,000 after acquiring an additional 90,496 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Allegiant Travel by 14.1% in 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 period. U S Global Investors Inc. lifted its stake in shares of Allegiant Travel by 23.4% in the fourth quarter. U S Global Investors Inc. now owns 647,055 shares of the transportation company’s stock valued at $53,453,000 after purchasing an additional 122,844 shares during the period. Franklin Resources Inc. boosted its holdings in Allegiant Travel by 15.4% during the fourth quarter. Franklin Resources Inc. now owns 620,180 shares of the transportation company’s stock worth $51,233,000 after buying an additional 82,813 shares in the last quarter. Finally, American Century Companies Inc. grew 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 buying an additional 42,688 shares during the period. 85.81% of the stock is owned by institutional investors and hedge funds.

About Allegiant Travel

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.