Principal Financial Group Inc. Reduces Holdings in Allegiant Travel (NASDAQ:ALGT)

Principal Financial Group Inc. trimmed its stake in Allegiant Travel (NASDAQ:ALGT) by 5.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,563 shares of the transportation company’s stock after selling 4,179 shares during the period. Principal Financial Group Inc. owned approximately 0.41% of Allegiant Travel worth $5,608,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC purchased a new position in shares of Allegiant Travel in the 4th quarter valued at $28,000. Tradewinds Capital Management LLC purchased a new position in Allegiant Travel during the 4th quarter worth $83,000. Commerce Bank purchased a new position in Allegiant Travel during the 4th quarter worth $201,000. Everence Capital Management Inc. purchased a new position in Allegiant Travel during the 4th quarter worth $208,000. Finally, Aigen Investment Management LP purchased a new position in Allegiant Travel during the 4th quarter worth $213,000. 85.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Allegiant Travel

In other Allegiant Travel news, EVP Robert Paul Wilson III sold 750 shares of Allegiant Travel stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $53.00, for a total transaction of $39,750.00. Following the transaction, the executive vice president now directly owns 74,948 shares of the company’s stock, valued at $3,972,244. The sale was disclosed in a filing with the SEC, which is available at this link. In other Allegiant Travel news, EVP Robert Paul Wilson III sold 750 shares of Allegiant Travel stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $53.00, for a total transaction of $39,750.00. Following the transaction, the executive vice president now directly owns 74,948 shares of the company’s stock, valued at $3,972,244. The sale was disclosed in a filing with the SEC, which is available at this link. 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 transaction, the chief operating officer now owns 9,422 shares of the company’s stock, valued at $480,522. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,037 shares of company stock worth $1,395,948. 17.50% of the stock is owned by company insiders.

Allegiant Travel Price Performance

NASDAQ:ALGT traded down $1.92 during mid-day trading on Friday, hitting $47.79. 96,594 shares of the company’s stock traded hands, compared to its average volume of 313,146. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.74 and a current ratio of 0.76. The firm’s 50 day simple moving average is $52.53 and its 200 day simple moving average is $66.68. Allegiant Travel has a 1 year low of $46.90 and a 1 year high of $130.93. The company has a market cap of $871.21 million, a PE ratio of 15.73, a price-to-earnings-growth ratio of 1.33 and a beta of 1.66.

Allegiant Travel (NASDAQ:ALGT) last released its 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 net margin of 2.26% and a return on equity of 0.50%. The firm had revenue of $656.70 million during the quarter, compared to the consensus estimate of $645.23 million. During the same period in the previous year, the firm earned $3.04 earnings per share. Allegiant Travel’s revenue was up 1.1% compared to the same quarter last year. Sell-side analysts expect that Allegiant Travel will post 3.62 EPS for the current year.

Allegiant Travel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 15th were issued a $0.60 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $2.40 dividend on an annualized basis and a yield of 5.02%. Allegiant Travel’s payout ratio is 75.95%.

Analyst Upgrades and Downgrades

ALGT has been the topic of several research reports. Susquehanna lowered their price objective on shares of Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 9th. Barclays reduced 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 research note on Thursday, May 9th. UBS Group started coverage on shares of Allegiant Travel in a research note on Wednesday, March 20th. They issued 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 research note on Wednesday, May 15th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Allegiant Travel has an average rating of “Hold” and a consensus price target of $77.57.

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.