Allegiant Travel (NASDAQ:ALGT) Director Gary Ellmer Sells 1,000 Shares

Allegiant Travel (NASDAQ:ALGT) Director Gary Ellmer sold 1,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the sale, the director now owns 7,490 shares in the company, valued at $337,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Allegiant Travel Trading Down 3.2 %

ALGT traded down $1.36 during trading on Wednesday, reaching $41.72. 257,490 shares of the company’s stock were exchanged, compared to its average volume of 353,271. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 1.35. Allegiant Travel has a one year low of $36.08 and a one year high of $90.25. The firm has a fifty day moving average price of $46.71 and a two-hundred day moving average price of $57.42. The stock has a market capitalization of $760.64 million, a PE ratio of 13.33, a price-to-earnings-growth ratio of 2.06 and a beta of 1.66.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings data on Wednesday, July 31st. The transportation company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.93. The company had revenue of $666.28 million for the quarter, compared to analysts’ expectations of $657.74 million. Allegiant Travel had a negative net margin of 0.57% and a positive return on equity of 3.48%. Allegiant Travel’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.35 earnings per share. As a group, equities research analysts forecast that Allegiant Travel will post 3.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Allegiant Travel

A number of hedge funds have recently made changes to their positions in ALGT. Vanguard Group Inc. boosted its holdings in Allegiant Travel by 2.3% in the first quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock valued at $131,591,000 after acquiring an additional 38,612 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in Allegiant Travel by 1.9% during the second quarter. Diamond Hill Capital Management Inc. now owns 945,839 shares of the transportation company’s stock worth $47,509,000 after buying an additional 17,792 shares during the last quarter. Donald Smith & CO. Inc. lifted its holdings in Allegiant Travel by 166.7% in the second quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company’s stock valued at $41,506,000 after buying an additional 516,545 shares during the period. Dimensional Fund Advisors LP boosted its position in Allegiant Travel by 14.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 798,573 shares of the transportation company’s stock valued at $65,972,000 after acquiring an additional 98,662 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in Allegiant Travel by 15.4% during the 4th quarter. Franklin Resources Inc. now owns 620,180 shares of the transportation company’s stock worth $51,233,000 after acquiring an additional 82,813 shares during the period. 85.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Barclays lowered their price objective on shares of Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft downgraded Allegiant Travel from a “buy” rating to a “hold” rating and lowered their target price for the stock from $75.00 to $53.00 in a research note on Monday, July 8th. Evercore ISI reduced 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. Susquehanna lowered their price objective on shares of Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Finally, Morgan Stanley dropped their price objective on shares of 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $59.50.

About Allegiant Travel

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.