Allegiant Travel (NASDAQ:ALGT) Posts Earnings Results

Allegiant Travel (NASDAQ:ALGT) released its quarterly earnings results on Wednesday. The transportation company reported ($2.02) EPS for the quarter, missing the consensus estimate of ($1.85) by ($0.17), reports. The business had revenue of $562.20 million for the quarter, compared to analysts’ expectations of $561.24 million. Allegiant Travel had a negative net margin of 1.04% and a positive return on equity of 0.63%. Allegiant Travel updated its Q4 guidance to $0.00-1.00 EPS and its Q4 2024 guidance to 0.000-1.000 EPS.

Allegiant Travel Stock Down 3.1 %

Shares of ALGT opened at $63.01 on Friday. The business’s 50 day moving average is $51.72 and its 200 day moving average is $50.96. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.30. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $85.91. The company has a market capitalization of $1.15 billion, a PE ratio of -42.01, a price-to-earnings-growth ratio of 4.11 and a beta of 1.65.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Susquehanna increased their price target on shares of Allegiant Travel from $40.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Barclays decreased their target price on 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 lifted their target price on Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a research report on Thursday, October 3rd. TD Cowen upped their price target on Allegiant Travel from $42.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft cut Allegiant Travel from a “buy” rating to a “hold” rating and lowered their price objective for the company from $75.00 to $53.00 in a research report on Monday, July 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $64.13.

Insiders Place Their Bets

In other news, COO Keny Frank Wilper sold 635 shares of Allegiant Travel stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total transaction of $39,808.15. Following the sale, the chief operating officer now owns 16,353 shares in the company, valued at $1,025,169.57. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Allegiant Travel news, COO Keny Frank Wilper sold 635 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total transaction of $39,808.15. Following the completion of the transaction, the chief operating officer now owns 16,353 shares of the company’s stock, valued at $1,025,169.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gary Ellmer sold 1,000 shares of Allegiant Travel 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 completion of the sale, the director now directly owns 7,490 shares in the company, valued at $337,050. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,334 shares of company stock worth $117,158 in the last three months. 15.80% of the stock is owned by company insiders.

Institutional Trading of Allegiant Travel

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Allegiant Travel by 2.3% in the first quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock valued at $131,591,000 after purchasing an additional 38,612 shares in the last quarter. Donald Smith & CO. Inc. lifted its position in Allegiant Travel by 20.2% during the third quarter. Donald Smith & CO. Inc. now owns 993,474 shares of the transportation company’s stock valued at $54,701,000 after purchasing an additional 167,148 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of Allegiant Travel by 1.9% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 945,839 shares of the transportation company’s stock worth $47,509,000 after buying an additional 17,792 shares in the last quarter. U S Global Investors Inc. increased its holdings in shares of Allegiant Travel by 51.9% in the 3rd quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock worth $40,823,000 after buying an additional 253,198 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Allegiant Travel by 15.1% during the 2nd quarter. American Century Companies Inc. now owns 428,787 shares of the transportation company’s stock valued at $21,538,000 after buying an additional 56,208 shares in the last quarter. 85.81% of the stock is owned by hedge funds and other institutional investors.

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.