Vanguard Group Inc. Trims Holdings in Allegiant Travel (NASDAQ:ALGT)

Vanguard Group Inc. trimmed its position in Allegiant Travel (NASDAQ:ALGT) by 0.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,722,026 shares of the transportation company’s stock after selling 7,393 shares during the period. Vanguard Group Inc. owned about 9.36% of Allegiant Travel worth $132,355,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Castleview Partners LLC purchased a new position in Allegiant Travel in the 2nd quarter valued at about $44,000. Lazard Asset Management LLC purchased a new position in shares of Allegiant Travel during the 3rd quarter worth about $31,000. State of Wyoming lifted its holdings in shares of Allegiant Travel by 38.8% during the 2nd quarter. State of Wyoming now owns 691 shares of the transportation company’s stock worth $87,000 after acquiring an additional 193 shares during the period. Captrust Financial Advisors lifted its holdings in shares of Allegiant Travel by 82.9% during the 1st quarter. Captrust Financial Advisors now owns 812 shares of the transportation company’s stock worth $132,000 after acquiring an additional 368 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of Allegiant Travel by 32.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 819 shares of the transportation company’s stock worth $56,000 after acquiring an additional 200 shares during the period. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Gary Ellmer sold 2,000 shares of Allegiant Travel stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $79.10, for a total transaction of $158,200.00. Following the sale, the director now owns 8,490 shares in the company, valued at $671,559. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 17.50% of the company’s stock.

Allegiant Travel Trading Down 2.9 %

NASDAQ ALGT opened at $67.40 on Wednesday. Allegiant Travel has a one year low of $54.87 and a one year high of $130.93. The company’s 50 day moving average price is $75.22 and its 200 day moving average price is $74.34. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.80 and a current ratio of 0.83. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 0.89 and a beta of 1.58.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data on Monday, February 5th. The transportation company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.52. The company had revenue of $611.00 million for the quarter, compared to analyst estimates of $596.42 million. Allegiant Travel had a net margin of 4.54% and a return on equity of 3.80%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm posted $3.17 earnings per share. On average, sell-side analysts predict that Allegiant Travel will post 6.75 EPS for the current year.

Allegiant Travel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 15th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.56%. Allegiant Travel’s dividend payout ratio is currently 37.97%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ALGT. TD Cowen increased their price objective on shares of Allegiant Travel from $82.00 to $85.00 and gave the stock a “market perform” rating in a report on Tuesday, February 6th. UBS Group began coverage on shares of Allegiant Travel in a report on Wednesday, March 20th. They set a “sell” rating and a $58.00 price objective on the stock. Raymond James cut their price objective on shares of Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating on the stock in a report on Tuesday, February 6th. Finally, Susquehanna cut their price objective on shares of Allegiant Travel from $80.00 to $76.00 and set a “neutral” rating on the stock in a report on Friday, February 9th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $91.75.

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.