Allegiant Travel (NASDAQ:ALGT) Stock Price Up 5%

Allegiant Travel (NASDAQ:ALGT) rose 5% during trading on Tuesday . The stock traded as high as $54.35 and last traded at $54.15. Approximately 22,817 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 338,621 shares. The stock had previously closed at $51.58.

Wall Street Analysts Forecast Growth

ALGT has been the subject of several research reports. Susquehanna lowered their target price on Allegiant Travel from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Tuesday, July 16th. TD Cowen decreased their price objective on Allegiant Travel from $60.00 to $39.00 and set a “hold” rating for the company in a research note on Wednesday, July 17th. Morgan Stanley decreased their price objective on 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. Barclays decreased their price objective on 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, Deutsche Bank Aktiengesellschaft cut Allegiant Travel from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $75.00 to $53.00 in a research note on Monday, July 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $62.13.

Allegiant Travel Trading Up 5.0 %

The company has a debt-to-equity ratio of 1.35, a current ratio of 0.76 and a quick ratio of 0.74. The stock has a market capitalization of $987.34 million, a price-to-earnings ratio of 17.16, a PEG ratio of 2.19 and a beta of 1.66. The business has a 50 day simple moving average of $50.59 and a 200-day simple moving average of $62.60.

Allegiant Travel (NASDAQ:ALGT) last posted 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 return on equity of 0.50% and a net margin of 2.26%. The firm had revenue of $656.70 million during the quarter, compared to analysts’ expectations of $645.23 million. During the same period in the previous year, the firm earned $3.04 earnings per share. The company’s revenue was up 1.1% on a year-over-year basis. As a group, equities analysts expect that Allegiant Travel will post 3.08 earnings per share for the current year.

Allegiant Travel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th were issued a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.43%. Allegiant Travel’s dividend payout ratio (DPR) is 75.95%.

Insider Activity

In other news, COO Keny Frank Wilper sold 1,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $51.00, for a total value of $51,000.00. Following the sale, the chief operating officer now directly owns 9,422 shares in the company, valued at $480,522. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Robert Paul Wilson III sold 750 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was 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 in the company, valued at $3,972,244. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Keny Frank Wilper sold 1,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $51.00, for a total value of $51,000.00. Following the completion of the sale, the chief operating officer now owns 9,422 shares in the company, valued at $480,522. The disclosure for this sale can be found here. Insiders have sold a total of 26,037 shares of company stock worth $1,395,948 over the last three months. Corporate insiders own 17.50% of the company’s stock.

Institutional Trading of Allegiant Travel

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Innealta Capital LLC bought a new stake in Allegiant Travel during the second quarter worth about $34,000. Bank of New York Mellon Corp raised its holdings in Allegiant Travel by 7.7% during the second quarter. Bank of New York Mellon Corp now owns 215,533 shares of the transportation company’s stock worth $10,826,000 after acquiring an additional 15,469 shares in the last quarter. JB Capital LLC raised its holdings in Allegiant Travel by 48.0% during the second quarter. JB Capital LLC now owns 6,188 shares of the transportation company’s stock worth $311,000 after acquiring an additional 2,008 shares in the last quarter. SeaCrest Wealth Management LLC raised its holdings in Allegiant Travel by 10.6% during the second quarter. SeaCrest Wealth Management LLC now owns 5,560 shares of the transportation company’s stock worth $279,000 after acquiring an additional 535 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Allegiant Travel during the second quarter worth about $285,000. Institutional investors own 85.81% of the company’s stock.

Allegiant Travel Company 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.