Allegiant Travel (NASDAQ:ALGT) Shares Down 5.3%

Allegiant Travel (NASDAQ:ALGT) traded down 5.3% during trading on Tuesday . The company traded as low as $39.18 and last traded at $39.46. 39,492 shares traded hands during trading, a decline of 89% from the average session volume of 347,852 shares. The stock had previously closed at $41.65.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Barclays dropped their target price on shares of Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Evercore ISI reduced their target price on Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating on the stock in a report on Monday, July 15th. Susquehanna dropped 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. Morgan Stanley reduced their price objective on shares of Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Monday, July 8th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Allegiant Travel from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $75.00 to $53.00 in a research note on Monday, July 8th. Two investment 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $59.50.

Allegiant Travel Stock Down 3.9 %

The company has a market cap of $732.37 million, a PE ratio of 12.67, a price-to-earnings-growth ratio of 7.92 and a beta of 1.64. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.74 and a quick ratio of 0.71. The company has a fifty day moving average price of $44.95 and a 200 day moving average price of $54.97.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Wednesday, July 31st. The transportation company reported $1.77 EPS for the quarter, beating the consensus estimate of $0.84 by $0.93. Allegiant Travel had a positive return on equity of 3.48% and a negative net margin of 0.57%. The firm had revenue of $666.28 million for the quarter, compared to analyst estimates of $657.74 million. During the same period in the prior year, the company earned $4.35 EPS. The company’s revenue was down 2.6% on a year-over-year basis. As a group, analysts anticipate that Allegiant Travel will post 0.66 EPS for the current year.

Insider Activity at Allegiant Travel

In related news, Director Gary Ellmer sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the sale, the director now directly owns 7,490 shares of the company’s stock, valued at $337,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Allegiant Travel

A number of large investors have recently modified their holdings of ALGT. Victory Capital Management Inc. boosted its position in Allegiant Travel by 22.6% during the 4th quarter. Victory Capital Management Inc. now owns 13,977 shares of the transportation company’s stock valued at $1,155,000 after acquiring an additional 2,579 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Allegiant Travel by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 123,577 shares of the transportation company’s stock valued at $10,209,000 after buying an additional 2,168 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Allegiant Travel by 14.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 798,573 shares of the transportation company’s stock worth $65,972,000 after buying an additional 98,662 shares during the period. First Eagle Investment Management LLC increased its stake in shares of Allegiant Travel by 94.2% in the 4th quarter. First Eagle Investment Management LLC now owns 65,713 shares of the transportation company’s stock worth $5,429,000 after acquiring an additional 31,875 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Allegiant Travel during the 4th quarter valued at about $684,000. Institutional investors own 85.81% of the company’s stock.

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.