Oldfield Partners LLP Sells 776 Shares of Allegiant Travel (NASDAQ:ALGT)

Oldfield Partners LLP lessened its position in shares of Allegiant Travel (NASDAQ:ALGT) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,158 shares of the transportation company’s stock after selling 776 shares during the period. Allegiant Travel comprises 0.3% of Oldfield Partners LLP’s holdings, making the stock its 17th largest position. Oldfield Partners LLP owned approximately 0.18% of Allegiant Travel worth $1,615,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in shares of Allegiant Travel in the 2nd quarter valued at about $34,000. CWM LLC grew its holdings in shares of Allegiant Travel by 275.1% in the 2nd quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock valued at $64,000 after acquiring an additional 930 shares in the last quarter. Headlands Technologies LLC grew its holdings in shares of Allegiant Travel by 170.6% in the 2nd quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock valued at $127,000 after acquiring an additional 1,590 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Allegiant Travel in the 1st quarter valued at about $141,000. Finally, Commerce Bank bought a new position in shares of Allegiant Travel in the 4th quarter valued at about $201,000. Institutional investors own 85.81% of the company’s stock.

Wall Street Analyst Weigh In

ALGT has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft downgraded shares of Allegiant Travel from a “buy” rating to a “hold” rating and cut their target price for the company from $75.00 to $53.00 in a research note on Monday, July 8th. Morgan Stanley cut their target price on shares of Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating for the company in a research note on Monday, July 8th. TD Cowen cut their target price on shares of Allegiant Travel from $39.00 to $33.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Barclays cut their target price on shares of Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Finally, Evercore ISI cut their target price on shares of Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating for the company in a research note on Monday, July 15th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $59.50.

Allegiant Travel Trading Down 0.8 %

Shares of ALGT stock opened at $41.55 on Monday. The firm has a 50 day moving average price of $44.35 and a two-hundred day moving average price of $54.01. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $757.54 million, a PE ratio of 13.15, a price-to-earnings-growth ratio of 5.50 and a beta of 1.64. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $88.09.

Allegiant Travel (NASDAQ:ALGT) last announced its earnings results on Wednesday, July 31st. The transportation company reported $1.77 EPS for the quarter, topping the consensus estimate of $0.84 by $0.93. Allegiant Travel had a negative net margin of 0.57% and a positive return on equity of 3.48%. The company had revenue of $666.28 million for the quarter, compared to analysts’ expectations of $657.74 million. During the same period last year, the firm earned $4.35 earnings per share. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. As a group, analysts predict that Allegiant Travel will post 0.96 earnings per share for the current year.

Insider Transactions at Allegiant Travel

In other news, Director Gary Ellmer sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $45.00, for a total transaction of $45,000.00. Following the transaction, the director now directly owns 7,490 shares of the company’s stock, valued at $337,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 17.50% of the company’s stock.

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.