8,238 Shares in Allegiant Travel (NASDAQ:ALGT) Purchased by PAX Financial Group LLC

PAX Financial Group LLC acquired a new stake in Allegiant Travel (NASDAQ:ALGT) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,238 shares of the transportation company’s stock, valued at approximately $620,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ALGT. GAMMA Investing LLC acquired a new position in Allegiant Travel during the fourth quarter worth $28,000. Tradewinds Capital Management LLC purchased a new position in Allegiant Travel during the fourth quarter worth about $83,000. SG Americas Securities LLC acquired a new position in Allegiant Travel in the 1st quarter valued at about $141,000. Commerce Bank purchased a new position in Allegiant Travel in the fourth quarter worth approximately $201,000. Finally, Everence Capital Management Inc. acquired a new position in shares of Allegiant Travel in the 4th quarter valued at $208,000. 85.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ALGT. Susquehanna dropped their price target on shares of Allegiant Travel from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Tuesday, July 16th. TD Cowen lowered their price target on Allegiant Travel from $60.00 to $39.00 and set a “hold” rating for the company in a research report on Wednesday, July 17th. Barclays cut their price objective on Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Morgan Stanley lowered their target price on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. Finally, Evercore ISI cut their price target on shares of Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating on the stock in a research note on Monday, July 15th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Allegiant Travel has a consensus rating of “Hold” and an average price target of $62.13.

Insider Transactions at Allegiant Travel

In related news, EVP Robert Paul Wilson III sold 4,600 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $54.00, for a total transaction of $248,400.00. Following the completion of the sale, the executive vice president now owns 75,698 shares in the company, valued at $4,087,692. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Allegiant Travel news, EVP Robert Paul Wilson III sold 4,600 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $54.00, for a total transaction of $248,400.00. Following the transaction, the executive vice president now owns 75,698 shares of the company’s stock, valued at $4,087,692. 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 company’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 directly owns 9,422 shares of the company’s stock, valued at $480,522. 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. 17.50% of the stock is currently owned by corporate insiders.

Allegiant Travel Stock Up 2.4 %

Allegiant Travel stock traded up $1.14 during trading on Tuesday, reaching $49.32. The stock had a trading volume of 202,503 shares, compared to its average volume of 341,106. Allegiant Travel has a 52-week low of $43.91 and a 52-week high of $129.49. The business has a 50 day moving average price of $50.98 and a 200 day moving average price of $63.60. 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 has a market cap of $899.10 million, a PE ratio of 15.25, a P/E/G ratio of 1.80 and a beta of 1.66.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Tuesday, May 7th. The transportation company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.06. The business 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 company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.04 EPS. On average, analysts predict that Allegiant Travel will post 3.36 EPS for the current year.

Allegiant Travel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th were given a dividend of $0.60 per share. The ex-dividend date was Tuesday, May 14th. This represents a $2.40 annualized dividend and a dividend yield of 4.87%. Allegiant Travel’s dividend payout ratio is currently 75.95%.

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.