Diamond Hill Capital Management Inc. Sells 161,133 Shares of Allegiant Travel Company (NASDAQ:ALGT)

Diamond Hill Capital Management Inc. lowered its stake in Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 64.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,624 shares of the transportation company's stock after selling 161,133 shares during the period. Diamond Hill Capital Management Inc. owned approximately 0.50% of Allegiant Travel worth $4,681,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Sterling Capital Management LLC increased its holdings in shares of Allegiant Travel by 803.6% in the fourth quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company's stock worth $47,000 after buying an additional 442 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Allegiant Travel by 489.1% in the first quarter. Farther Finance Advisors LLC now owns 542 shares of the transportation company's stock worth $28,000 after buying an additional 450 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Allegiant Travel in the fourth quarter worth about $75,000. Russell Investments Group Ltd. increased its holdings in Allegiant Travel by 1,486.7% during the 4th quarter. Russell Investments Group Ltd. now owns 1,904 shares of the transportation company's stock valued at $179,000 after purchasing an additional 1,784 shares during the period. Finally, Bank of Montreal Can purchased a new position in Allegiant Travel during the 4th quarter valued at about $213,000. Hedge funds and other institutional investors own 85.81% of the company's stock.

Analysts Set New Price Targets

ALGT has been the topic of a number of research analyst reports. Susquehanna reduced their price target on Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Barclays reduced their price target on Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. Evercore ISI upgraded Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 price target on the stock in a report on Tuesday, July 1st. TD Cowen boosted their price target on Allegiant Travel from $35.00 to $50.00 and gave the company a "hold" rating in a report on Monday, May 12th. Finally, Bank of America reduced their price target on Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating on the stock in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $65.11.

Allegiant Travel Stock Performance

ALGT traded up $0.28 during mid-day trading on Friday, reaching $50.63. 405,096 shares of the company traded hands, compared to its average volume of 418,968. The company has a quick ratio of 0.87, a current ratio of 0.90 and a debt-to-equity ratio of 1.57. The stock has a market capitalization of $924.00 million, a P/E ratio of -4.38, a P/E/G ratio of 0.42 and a beta of 1.71. Allegiant Travel Company has a 52-week low of $36.08 and a 52-week high of $107.57. The company's fifty day moving average price is $54.40 and its 200-day moving average price is $63.42.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The transportation company reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.27. Allegiant Travel had a positive return on equity of 5.46% and a negative net margin of 8.11%. The business had revenue of $699.07 million during the quarter, compared to analyst estimates of $700.00 million. During the same quarter in the prior year, the business posted $0.57 EPS. Allegiant Travel's revenue for the quarter was up 6.5% compared to the same quarter last year. On average, sell-side analysts expect that Allegiant Travel Company will post 7.7 EPS for the current year.

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.