Geneva Capital Management LLC Decreases Stock Holdings in Allegiant Travel (NASDAQ:ALGT)

Geneva Capital Management LLC reduced its position in Allegiant Travel (NASDAQ:ALGT) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 245,480 shares of the transportation company’s stock after selling 3,456 shares during the quarter. Geneva Capital Management LLC owned about 1.35% of Allegiant Travel worth $18,463,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in Allegiant Travel by 14.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 798,573 shares of the transportation company’s stock valued at $65,972,000 after purchasing an additional 98,662 shares during the last quarter. U S Global Investors Inc. raised its stake in Allegiant Travel by 23.4% in the 4th quarter. U S Global Investors Inc. now owns 647,055 shares of the transportation company’s stock valued at $53,453,000 after purchasing an additional 122,844 shares during the last quarter. Franklin Resources Inc. raised its stake in Allegiant Travel by 15.4% in the 4th quarter. Franklin Resources Inc. now owns 620,180 shares of the transportation company’s stock valued at $51,233,000 after purchasing an additional 82,813 shares during the last quarter. American Century Companies Inc. raised its stake in Allegiant Travel by 19.4% in the 3rd quarter. American Century Companies Inc. now owns 263,096 shares of the transportation company’s stock valued at $20,222,000 after purchasing an additional 42,688 shares during the last quarter. Finally, Par Capital Management Inc. raised its stake in Allegiant Travel by 1.4% in the 4th quarter. Par Capital Management Inc. now owns 253,500 shares of the transportation company’s stock valued at $20,942,000 after purchasing an additional 3,500 shares during the last quarter. 85.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ALGT has been the subject of several recent research reports. UBS Group started coverage on Allegiant Travel in a research note on Wednesday, March 20th. They issued a “sell” rating and a $58.00 price objective for the company. Morgan Stanley cut their target price on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating for the company in a research note on Monday. TD Cowen cut their target price on Allegiant Travel from $65.00 to $60.00 and set a “hold” rating for the company in a research note on Wednesday, May 15th. Susquehanna cut their target price on Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating for the company in a research note on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft downgraded Allegiant Travel from a “buy” rating to a “hold” rating and cut their target price for the stock from $75.00 to $53.00 in a research note on Monday. Two equities 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $72.25.

Insider Activity at Allegiant Travel

In related news, COO Keny Frank Wilper sold 1,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $51.00, for a total transaction of $51,000.00. Following the completion of the transaction, the chief operating officer now directly owns 9,422 shares in the company, valued at approximately $480,522. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Robert Paul Wilson III sold 4,600 shares of Allegiant Travel 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 completion of the transaction, the executive vice president now owns 75,698 shares in the company, valued at approximately $4,087,692. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 disclosure for this sale can be found here. Insiders sold 26,037 shares of company stock worth $1,395,948 in the last three months. 17.50% of the stock is owned by company insiders.

Allegiant Travel Trading Up 3.8 %

Shares of NASDAQ ALGT traded up $1.78 during mid-day trading on Thursday, reaching $49.09. 641,086 shares of the company’s stock were exchanged, compared to its average volume of 330,418. The firm has a market capitalization of $894.91 million, a price-to-earnings ratio of 14.97, a PEG ratio of 1.22 and a beta of 1.66. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.74 and a current ratio of 0.76. Allegiant Travel has a 52-week low of $43.91 and a 52-week high of $130.93. The company’s 50-day moving average is $51.76 and its 200-day moving average is $65.52.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Tuesday, May 7th. The transportation company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 0.50% and a net margin of 2.26%. The company’s revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.04 EPS. Analysts expect that Allegiant Travel will post 3.62 EPS for the current fiscal year.

Allegiant Travel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 15th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend was Tuesday, May 14th. Allegiant Travel’s dividend payout ratio (DPR) is 75.95%.

Allegiant Travel 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.