Allegiant Travel (NASDAQ:ALGT) Hits New 12-Month Low at $43.51

Shares of Allegiant Travel (NASDAQ:ALGT) hit a new 52-week low during trading on Friday . The company traded as low as $43.51 and last traded at $43.66, with a volume of 719325 shares traded. The stock had previously closed at $49.83.

Analyst Upgrades and Downgrades

ALGT has been the topic of several research analyst reports. Susquehanna decreased their price target on shares of Allegiant Travel from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 16th. TD Cowen lowered their target price on shares of Allegiant Travel from $60.00 to $39.00 and set a “hold” rating on the stock in a report on Wednesday, July 17th. Morgan Stanley reduced their price target on shares of Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a research report on Monday, July 8th. Barclays decreased their price target on Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft lowered Allegiant Travel from a “buy” rating to a “hold” rating and lowered their target price for the company from $75.00 to $53.00 in a research note on Monday, July 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $62.13.

Allegiant Travel Stock Down 12.4 %

The company has a market capitalization of $795.92 million, a P/E ratio of 14.41, a P/E/G ratio of 2.32 and a beta of 1.66. 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 firm has a fifty day simple moving average of $50.88 and a 200-day simple moving average of $62.31.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Tuesday, May 7th. The transportation company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. Allegiant Travel had a positive return on equity of 3.48% and a negative net margin of 0.57%. The business had revenue of $656.70 million during the quarter, compared to analysts’ expectations of $645.23 million. During the same period in the prior year, the business earned $3.04 EPS. Allegiant Travel’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, equities research analysts expect that Allegiant Travel will post 3.08 EPS for the current fiscal year.

Allegiant Travel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 15th were given a $0.60 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $2.40 annualized dividend and a yield of 5.50%. Allegiant Travel’s dividend payout ratio is currently 75.95%.

Insiders Place Their Bets

In other news, EVP Robert Paul Wilson III sold 4,600 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $54.00, for a total value of $248,400.00. Following the sale, the executive vice president now directly owns 75,698 shares in the company, valued at $4,087,692. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, COO Keny Frank Wilper sold 1,000 shares of Allegiant Travel 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 transaction, the chief operating officer now owns 9,422 shares of the company’s stock, valued at approximately $480,522. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert Paul Wilson III sold 4,600 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $54.00, for a total value of $248,400.00. Following the completion of the sale, the executive vice president now owns 75,698 shares in the company, valued at approximately $4,087,692. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,037 shares of company stock worth $1,395,948. Corporate insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Allegiant Travel

A number of large investors have recently made changes to their positions in the company. Privium Fund Management UK Ltd grew its stake in shares of Allegiant Travel by 4.5% in the second quarter. Privium Fund Management UK Ltd now owns 10,191 shares of the transportation company’s stock valued at $504,000 after acquiring an additional 438 shares in the last quarter. Versor Investments LP grew its position in shares of Allegiant Travel by 34.5% during the 2nd quarter. Versor Investments LP now owns 5,794 shares of the transportation company’s stock worth $291,000 after purchasing an additional 1,486 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Allegiant Travel during the second quarter worth approximately $34,000. Bank of New York Mellon Corp raised its position in shares of Allegiant Travel by 7.7% in the second quarter. Bank of New York Mellon Corp now owns 215,533 shares of the transportation company’s stock valued at $10,826,000 after buying an additional 15,469 shares in the last quarter. Finally, JB Capital LLC raised its position in shares of Allegiant Travel by 48.0% in the second quarter. JB Capital LLC now owns 6,188 shares of the transportation company’s stock valued at $311,000 after buying an additional 2,008 shares in the last quarter. Institutional investors own 85.81% of the company’s stock.

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.