BNP Paribas Financial Markets increased its position in shares of Allegiant Travel (NASDAQ:ALGT – Free Report) by 369.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,874 shares of the transportation company’s stock after acquiring an additional 18,785 shares during the period. BNP Paribas Financial Markets owned about 0.13% of Allegiant Travel worth $1,796,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC bought a new stake in Allegiant Travel during the 4th quarter worth $28,000. Tradewinds Capital Management LLC acquired a new position in Allegiant Travel during the 4th quarter worth about $83,000. Commerce Bank acquired a new position in Allegiant Travel during the 4th quarter worth about $201,000. Everence Capital Management Inc. acquired a new position in Allegiant Travel during the 4th quarter worth about $208,000. Finally, Aigen Investment Management LP acquired a new position in Allegiant Travel during the 4th quarter worth about $213,000. Institutional investors own 85.81% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have commented on the company. Morgan Stanley cut their target price on 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 cut their target price on Allegiant Travel from $65.00 to $60.00 and set a “hold” rating on the stock in a report on Wednesday, May 15th. Barclays dropped their price objective on Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Evercore ISI dropped their price objective on Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating on the stock in a research note on Monday. Finally, UBS Group assumed coverage on Allegiant Travel in a research note on Wednesday, March 20th. They issued a “sell” rating and a $58.00 price objective on the stock. 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. According to data from MarketBeat, Allegiant Travel presently has a consensus rating of “Hold” and a consensus target price of $64.75.
Read Our Latest Research Report on Allegiant Travel
Allegiant Travel Stock Performance
Shares of Allegiant Travel stock opened at $52.68 on Wednesday. Allegiant Travel has a one year low of $43.91 and a one year high of $129.89. The firm has a market capitalization of $960.46 million, a price-to-earnings ratio of 16.67, a PEG ratio of 1.83 and a beta of 1.66. The business has a 50-day simple moving average of $51.40 and a 200 day simple moving average of $64.46. 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 (NASDAQ:ALGT – Get Free Report) last issued its earnings results on Tuesday, May 7th. The transportation company reported $0.57 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 business had revenue of $656.70 million during the quarter, compared to analyst estimates of $645.23 million. During the same period in the previous year, the company posted $3.04 EPS. The firm’s revenue was up 1.1% compared to the same quarter last year. On average, research analysts anticipate that Allegiant Travel will post 3.46 earnings per share for the current fiscal year.
Allegiant Travel Announces Dividend
The business also recently disclosed 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 4.56%. The ex-dividend date of this dividend was Tuesday, May 14th. Allegiant Travel’s dividend payout ratio is currently 75.95%.
Insiders Place Their Bets
In other Allegiant Travel news, EVP Robert Paul Wilson III sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $53.00, for a total transaction of $39,750.00. Following the completion of the sale, the executive vice president now directly owns 74,948 shares of the company’s stock, valued at approximately $3,972,244. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CMO Scott Wayne Deangelo sold 19,687 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $53.68, for a total value of $1,056,798.16. Following the completion of the transaction, the chief marketing officer now directly owns 64,812 shares of the company’s stock, valued at $3,479,108.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert Paul Wilson III sold 750 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 74,948 shares of the company’s stock, valued at $3,972,244. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,037 shares of company stock valued at $1,395,948. Corporate 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.
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