Interval Partners LP Buys Shares of 75,000 Allegiant Travel (NASDAQ:ALGT)

Interval Partners LP bought a new stake in Allegiant Travel (NASDAQ:ALGT) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 75,000 shares of the transportation company’s stock, valued at approximately $5,641,000. Interval Partners LP owned about 0.41% of Allegiant Travel as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new stake in shares of Allegiant Travel during the 4th quarter valued at approximately $28,000. Tradewinds Capital Management LLC purchased a new stake in shares of Allegiant Travel during the 4th quarter valued at approximately $83,000. SG Americas Securities LLC purchased a new stake in shares of Allegiant Travel during the 1st quarter valued at approximately $141,000. Commerce Bank purchased a new stake in shares of Allegiant Travel during the 4th quarter valued at approximately $201,000. Finally, Everence Capital Management Inc. purchased a new stake in shares of Allegiant Travel during the 4th quarter valued at approximately $208,000. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, CMO Scott Wayne Deangelo sold 19,687 shares of Allegiant Travel stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $53.68, for a total transaction of $1,056,798.16. Following the transaction, the chief marketing officer now owns 64,812 shares of the company’s stock, valued at $3,479,108.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CMO Scott Wayne Deangelo sold 19,687 shares of the business’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 owns 64,812 shares of the company’s stock, valued at $3,479,108.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Keny Frank Wilper sold 1,000 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $51.00, for a total transaction of $51,000.00. Following the completion of the transaction, the chief operating officer now directly owns 9,422 shares in the company, valued at approximately $480,522. The disclosure for this sale can be found here. Insiders have sold 26,037 shares of company stock valued at $1,395,948 over the last 90 days. 17.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on ALGT. Morgan Stanley decreased their target price on shares of Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. TD Cowen decreased their target price on shares of Allegiant Travel from $60.00 to $39.00 and set a “hold” rating on the stock in a report on Wednesday, July 17th. Barclays decreased their target price on shares of Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Susquehanna decreased their target price on shares of Allegiant Travel from $60.00 to $55.00 and set a “neutral” rating on the stock in a report on Tuesday, July 16th. Finally, Evercore ISI decreased their price target on shares of Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating on the stock in a report on Monday, July 15th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $62.13.

Allegiant Travel Stock Performance

Shares of ALGT traded up $2.27 on Wednesday, reaching $57.17. The company’s stock had a trading volume of 290,249 shares, compared to its average volume of 341,526. 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 stock has a market capitalization of $1.04 billion, a P/E ratio of 17.37, a PEG ratio of 2.14 and a beta of 1.66. The stock’s 50 day simple moving average is $50.71 and its two-hundred day simple moving average is $62.45. Allegiant Travel has a 12-month low of $43.91 and a 12-month high of $128.27.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data on Tuesday, May 7th. The transportation company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. The company had revenue of $656.70 million for the quarter, compared to the consensus estimate of $645.23 million. Allegiant Travel had a net margin of 2.26% and a return on equity of 0.50%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.04 earnings per share. Research analysts forecast that Allegiant Travel will post 3.08 earnings per share 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 issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.20%. The ex-dividend date was Tuesday, May 14th. Allegiant Travel’s dividend payout ratio is currently 75.95%.

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.