Allegiant Travel (NASDAQ:ALGT – Get Free Report)’s stock price was down 4.5% on Thursday . The stock traded as low as $50.95 and last traded at $50.99. Approximately 36,917 shares traded hands during trading, a decline of 88% from the average daily volume of 300,832 shares. The stock had previously closed at $53.38.
Analyst Ratings Changes
Several analysts have recently commented on ALGT shares. 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 report on Thursday, May 9th. TD Cowen dropped their price objective on shares of Allegiant Travel from $65.00 to $60.00 and set a “hold” rating on the stock in a report on Wednesday, May 15th. UBS Group started coverage on shares of Allegiant Travel in a report on Wednesday, March 20th. They issued a “sell” rating and a $58.00 price objective on the stock. Finally, Susquehanna dropped their price objective on shares of Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Allegiant Travel presently has a consensus rating of “Hold” and a consensus price target of $86.00.
Check Out Our Latest Analysis on Allegiant Travel
Allegiant Travel Price Performance
The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 1.35. The stock’s 50-day simple moving average is $55.78 and its two-hundred day simple moving average is $69.00. The company has a market capitalization of $935.02 million, a price-to-earnings ratio of 16.23, a PEG ratio of 1.46 and a beta of 1.65.
Allegiant Travel (NASDAQ:ALGT – Get Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The transportation company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. The company had revenue of $656.70 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.04 earnings per share. Equities research analysts predict that Allegiant Travel will post 3.61 earnings per share for the current year.
Allegiant Travel Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend was Tuesday, May 14th. Allegiant Travel’s dividend payout ratio (DPR) is 75.95%.
Insider Activity
In other news, EVP Robert Paul Wilson III sold 4,600 shares of the stock in a transaction dated Friday, May 10th. The shares were 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 $4,087,692. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Robert Paul Wilson III sold 4,600 shares of the stock in a transaction dated Friday, May 10th. The shares were 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 $4,087,692. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Keny Frank Wilper sold 1,000 shares of Allegiant Travel stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $51.00, for a total transaction of $51,000.00. Following the transaction, 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 sold 26,037 shares of company stock worth $1,395,948 over the last three months. Insiders own 17.50% of the company’s stock.
Hedge Funds Weigh In On Allegiant Travel
A number of institutional investors have recently bought and sold shares of ALGT. GAMMA Investing LLC purchased a new position in Allegiant Travel during the fourth quarter worth about $28,000. Tradewinds Capital Management LLC acquired a new stake in shares of Allegiant Travel during the fourth quarter valued at about $83,000. SG Americas Securities LLC acquired a new stake in shares of Allegiant Travel during the first quarter valued at about $141,000. Commerce Bank acquired a new stake in shares of Allegiant Travel during the fourth quarter valued at about $201,000. Finally, Everence Capital Management Inc. acquired a new stake in shares of Allegiant Travel during the fourth quarter valued at about $208,000. 85.81% of the stock is owned by hedge funds and other institutional investors.
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.
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