Geneva Capital Management LLC Trims Position in Allegiant Travel (NASDAQ:ALGT)

Geneva Capital Management LLC lessened its stake in shares of Allegiant Travel (NASDAQ:ALGT) by 1.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 248,936 shares of the transportation company’s stock after selling 3,350 shares during the period. Geneva Capital Management LLC owned 1.35% of Allegiant Travel worth $20,565,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC purchased a new stake in shares of Allegiant Travel during the 4th quarter valued at approximately $28,000. Tradewinds Capital Management LLC purchased a new stake in Allegiant Travel in the fourth quarter valued at approximately $83,000. Everence Capital Management Inc. purchased a new stake in Allegiant Travel in the fourth quarter valued at approximately $208,000. JB Capital LLC purchased a new stake in Allegiant Travel in the fourth quarter valued at approximately $223,000. Finally, Watershed Asset Management L.L.C. purchased a new stake in Allegiant Travel in the third quarter valued at approximately $257,000. Institutional investors own 85.81% of the company’s stock.

Insiders Place Their Bets

In other news, Director Gary Ellmer sold 2,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $79.10, for a total transaction of $158,200.00. Following the transaction, the director now owns 8,490 shares in the company, valued at approximately $671,559. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 17.50% of the company’s stock.

Allegiant Travel Price Performance

Allegiant Travel stock traded up $0.43 during mid-day trading on Friday, hitting $54.21. The company’s stock had a trading volume of 47,724 shares, compared to its average volume of 280,331. The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $988.25 million, a P/E ratio of 8.51, a P/E/G ratio of 1.16 and a beta of 1.63. Allegiant Travel has a twelve month low of $51.13 and a twelve month high of $130.93. The stock’s fifty day moving average price is $65.13 and its two-hundred day moving average price is $71.32.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data on Tuesday, May 7th. The transportation company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.06. The firm had revenue of $656.70 million for the quarter, compared to analysts’ expectations of $645.23 million. Allegiant Travel had a net margin of 4.54% and a return on equity of 3.80%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.04 EPS. Research analysts forecast that Allegiant Travel will post 4.61 earnings per share for the current year.

Allegiant Travel Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date is Tuesday, May 14th. Allegiant Travel’s dividend payout ratio is 37.97%.

Analysts Set New Price Targets

A number of equities analysts recently commented on ALGT shares. UBS Group assumed coverage on shares of Allegiant Travel in a research note on Wednesday, March 20th. They set a “sell” rating and a $58.00 target price for the company. TD Cowen increased their price target 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. Barclays dropped their target price on shares of Allegiant Travel from $60.00 to $55.00 and set an “equal weight” rating for the company in a report on Thursday. Susquehanna dropped their target price on shares of Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday, April 9th. Finally, Raymond James lowered their price target on shares of Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $89.13.

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.