Allegiant Travel (NASDAQ:ALGT) Stock Price Down 4.9%

Allegiant Travel (NASDAQ:ALGT) shares dropped 4.9% during trading on Friday . The company traded as low as $47.26 and last traded at $47.26. Approximately 159,132 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 313,635 shares. The stock had previously closed at $49.71.

Analyst Ratings Changes

ALGT has been the subject of a number of analyst reports. Barclays decreased their price objective on shares of Allegiant Travel from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. Susquehanna reduced their target price on shares of Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday, April 9th. UBS Group assumed coverage on shares of Allegiant Travel in a report on Wednesday, March 20th. They set a “sell” rating and a $58.00 target price for the company. Finally, TD Cowen reduced their target price on shares of 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 assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Allegiant Travel currently has a consensus rating of “Hold” and a consensus target price of $77.57.

Allegiant Travel Stock Down 7.6 %

The firm’s 50-day moving average price is $52.53 and its 200 day moving average price is $66.68. The company has a market capitalization of $837.12 million, a price-to-earnings ratio of 14.62, a PEG ratio of 1.33 and a beta of 1.66. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 1.35.

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 the consensus estimate of $0.51 by $0.06. The company had revenue of $656.70 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm posted $3.04 EPS. On average, sell-side analysts forecast that Allegiant Travel will post 3.62 EPS for the current fiscal year.

Allegiant Travel Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date was Tuesday, May 14th. Allegiant Travel’s payout ratio is 75.95%.

Insiders Place Their Bets

In other news, EVP Robert Paul Wilson III sold 750 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $53.00, for a total value of $39,750.00. Following the sale, the executive vice president now directly owns 74,948 shares of the company’s stock, valued at approximately $3,972,244. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Robert Paul Wilson III sold 750 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $53.00, for a total value of $39,750.00. Following the sale, the executive vice president now directly owns 74,948 shares of the company’s stock, valued at approximately $3,972,244. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Keny Frank Wilper sold 1,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $51.00, for a total transaction of $51,000.00. Following the completion of the sale, the chief operating officer now directly owns 9,422 shares in the company, valued at $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 in the last ninety days. 17.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Interval Partners LP acquired a new position in Allegiant Travel during the first quarter worth $5,641,000. PAX Financial Group LLC acquired a new position in Allegiant Travel during the first quarter worth $620,000. Donald Smith & CO. Inc. raised its holdings in Allegiant Travel by 106.7% during the first quarter. Donald Smith & CO. Inc. now owns 309,781 shares of the transportation company’s stock worth $23,299,000 after buying an additional 159,892 shares during the last quarter. Vanguard Group Inc. raised its holdings in Allegiant Travel by 2.3% during the first quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock worth $131,591,000 after buying an additional 38,612 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in Allegiant Travel by 57.5% during the first quarter. First Eagle Investment Management LLC now owns 103,513 shares of the transportation company’s stock worth $7,785,000 after buying an additional 37,800 shares during the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

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.