GW&K Investment Management LLC Sells 16,085 Shares of Allegiant Travel (NASDAQ:ALGT)

GW&K Investment Management LLC decreased its position in Allegiant Travel (NASDAQ:ALGT) by 9.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 158,138 shares of the transportation company’s stock after selling 16,085 shares during the quarter. GW&K Investment Management LLC owned 0.86% of Allegiant Travel worth $13,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC purchased a new position in shares of Allegiant Travel during the fourth quarter worth approximately $28,000. Tradewinds Capital Management LLC purchased a new stake in Allegiant Travel during the fourth quarter valued at about $83,000. Everence Capital Management Inc. bought a new position in shares of Allegiant Travel during the fourth quarter valued at about $208,000. JB Capital LLC purchased a new position in shares of Allegiant Travel in the fourth quarter worth about $223,000. Finally, Assenagon Asset Management S.A. purchased a new stake in Allegiant Travel during the 4th quarter valued at about $293,000. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ALGT. Susquehanna dropped their price objective 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. Barclays dropped their target price on shares of Allegiant Travel from $60.00 to $55.00 and set an “equal weight” rating for the company in a report on Thursday, May 9th. UBS Group started coverage on Allegiant Travel in a report on Wednesday, March 20th. They issued a “sell” rating and a $58.00 price objective for the company. Raymond James cut their price objective on Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 6th. Finally, TD Cowen decreased their target price on Allegiant Travel from $65.00 to $60.00 and set a “hold” rating for the company in a report on Wednesday, May 15th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Allegiant Travel presently has an average rating of “Hold” and a consensus price target of $86.00.

Allegiant Travel Stock Up 0.2 %

NASDAQ ALGT traded up $0.08 during mid-day trading on Wednesday, reaching $49.12. The stock had a trading volume of 30,511 shares, compared to its average volume of 288,647. The company has a fifty day moving average price of $62.18 and a 200 day moving average price of $70.59. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.76 and a quick ratio of 0.74. Allegiant Travel has a 1 year low of $48.41 and a 1 year high of $130.93. The stock has a market cap of $895.46 million, a PE ratio of 15.52, a price-to-earnings-growth ratio of 1.30 and a beta of 1.63.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Tuesday, May 7th. The transportation company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. Allegiant Travel had a return on equity of 0.50% and a net margin of 2.26%. The firm had revenue of $656.70 million for the quarter, compared to the consensus estimate of $645.23 million. During the same period in the prior year, the company posted $3.04 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. On average, research analysts expect that Allegiant Travel will post 3.74 earnings per share for the current year.

Allegiant Travel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be given a dividend of $0.60 per share. The ex-dividend date is Tuesday, May 14th. This represents a $2.40 dividend on an annualized basis and a yield of 4.89%. Allegiant Travel’s dividend payout ratio (DPR) is 75.95%.

Insiders Place Their Bets

In related news, CMO Scott Wayne Deangelo sold 19,687 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $53.68, for a total transaction of $1,056,798.16. Following the completion of the sale, the chief marketing officer now owns 64,812 shares in the company, valued at $3,479,108.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Robert Paul Wilson III sold 4,600 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $54.00, for a total value of $248,400.00. Following the completion of the sale, the executive vice president now directly owns 75,698 shares in the company, valued at approximately $4,087,692. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Scott Wayne Deangelo sold 19,687 shares of Allegiant Travel 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 in the company, valued at $3,479,108.16. The disclosure for this sale can be found here. 17.50% of the stock is currently owned by insiders.

Allegiant Travel 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.