Allegiant Travel (NASDAQ:ALGT) Shares Purchased by Summit Global Investments

Summit Global Investments grew its position in shares of Allegiant Travel (NASDAQ:ALGT) by 17.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,588 shares of the transportation company’s stock after buying an additional 2,320 shares during the period. Summit Global Investments owned about 0.08% of Allegiant Travel worth $1,288,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Swiss National Bank lifted its holdings in Allegiant Travel by 2.0% during the 3rd quarter. Swiss National Bank now owns 10,128 shares of the transportation company’s stock worth $778,000 after buying an additional 200 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Allegiant Travel in the 4th quarter worth approximately $28,000. Headlands Technologies LLC increased its position in Allegiant Travel by 13.0% in the 3rd quarter. Headlands Technologies LLC now owns 3,673 shares of the transportation company’s stock valued at $282,000 after acquiring an additional 423 shares during the period. 180 Wealth Advisors LLC increased its position in Allegiant Travel by 13.4% in the 3rd quarter. 180 Wealth Advisors LLC now owns 6,874 shares of the transportation company’s stock valued at $528,000 after acquiring an additional 814 shares during the period. Finally, SeaCrest Wealth Management LLC increased its position in Allegiant Travel by 35.9% in the 4th quarter. SeaCrest Wealth Management LLC now owns 3,595 shares of the transportation company’s stock valued at $284,000 after acquiring an additional 950 shares during the period. Institutional investors own 85.81% of the company’s stock.

Insider Activity at Allegiant Travel

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

Allegiant Travel Price Performance

Shares of NASDAQ ALGT traded up $1.26 during mid-day trading on Friday, reaching $55.63. The company had a trading volume of 313,293 shares, compared to its average volume of 318,722. The company has a current ratio of 0.83, a quick ratio of 0.80 and a debt-to-equity ratio of 1.37. The stock has a market cap of $1.01 billion, a PE ratio of 8.80, a P/E/G ratio of 1.14 and a beta of 1.63. The company has a 50-day moving average price of $66.73 and a two-hundred day moving average price of $71.86. Allegiant Travel has a 1-year low of $52.38 and a 1-year high of $130.93.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Monday, February 5th. The transportation company reported $0.11 EPS for the quarter, topping the consensus estimate of ($0.41) by $0.52. The business had revenue of $611.00 million during the quarter, compared to analysts’ expectations of $596.42 million. Allegiant Travel had a return on equity of 3.80% and a net margin of 4.54%. Allegiant Travel’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.17 earnings per share. On average, equities analysts anticipate that Allegiant Travel will post 4.61 earnings per share for the current year.

Allegiant Travel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were given a dividend of $0.60 per share. The ex-dividend date was Wednesday, February 14th. This represents a $2.40 dividend on an annualized basis and a yield of 4.31%. Allegiant Travel’s payout ratio is 37.97%.

Wall Street Analysts Forecast Growth

ALGT has been the topic of several analyst reports. Raymond James lowered their target price on Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 6th. Susquehanna lowered their price target on 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 lowered their price target on Allegiant Travel from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Friday, April 5th. TD Cowen lifted their price target on Allegiant Travel from $82.00 to $85.00 and gave the company a “market perform” rating in a research report on Tuesday, February 6th. Finally, UBS Group assumed coverage on Allegiant Travel in a research report on Wednesday, March 20th. They set a “sell” rating and a $58.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $89.75.

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.