Robert Paul Wilson III Sells 4,600 Shares of Allegiant Travel (NASDAQ:ALGT) Stock

Allegiant Travel (NASDAQ:ALGT - Get Free Report) EVP Robert Paul Wilson III sold 4,600 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $4,087,692. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Allegiant Travel Stock Down 0.6 %

Shares of ALGT traded down $0.34 during trading hours on Friday, reaching $53.44. 465,990 shares of the stock traded hands, compared to its average volume of 285,057. Allegiant Travel has a 52 week low of $51.13 and a 52 week high of $130.93. The company has a market cap of $974.21 million, a price-to-earnings ratio of 8.46, a PEG ratio of 1.16 and a beta of 1.63. The stock has a fifty day simple moving average of $64.76 and a 200 day simple moving average of $71.19. The company has a current ratio of 0.83, a quick ratio of 0.80 and a debt-to-equity ratio of 1.37.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its earnings results on Tuesday, May 7th. The transportation company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.51 by $0.06. The firm had revenue of $656.70 million for the quarter, compared to analysts' expectations of $645.23 million. Allegiant Travel had a net margin of 4.54% and a return on equity of 3.80%. The company's quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.04 EPS. On average, equities analysts forecast that Allegiant Travel will post 4.61 EPS for the current year.

Allegiant Travel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.40 dividend on an annualized basis and a yield of 4.49%. Allegiant Travel's dividend payout ratio (DPR) is presently 37.97%.

Institutional Investors Weigh In On Allegiant Travel

A number of hedge funds have recently made changes to their positions in the business. Swiss National Bank increased its holdings in Allegiant Travel by 2.0% during the third quarter. Swiss National Bank now owns 10,128 shares of the transportation company's stock worth $778,000 after buying an additional 200 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Allegiant Travel by 6.9% during the 1st quarter. ProShare Advisors LLC now owns 3,155 shares of the transportation company's stock worth $237,000 after purchasing an additional 203 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Allegiant Travel in the 4th quarter worth approximately $28,000. 180 Wealth Advisors LLC raised its holdings in shares of Allegiant Travel by 5.7% in the 1st quarter. 180 Wealth Advisors LLC now owns 7,291 shares of the transportation company's stock worth $548,000 after purchasing an additional 392 shares during the period. Finally, Headlands Technologies LLC lifted its stake in Allegiant Travel by 13.0% in the third quarter. Headlands Technologies LLC now owns 3,673 shares of the transportation company's stock valued at $282,000 after purchasing an additional 423 shares during the last quarter. 85.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Susquehanna reduced their price target on shares of Allegiant Travel from $76.00 to $65.00 and set a "neutral" rating for the company in a report on Tuesday, April 9th. UBS Group began coverage on Allegiant Travel in a report on Wednesday, March 20th. They issued a "sell" rating and a $58.00 price target on the stock. TD Cowen boosted their price objective on Allegiant Travel from $82.00 to $85.00 and gave the company a "market perform" rating in a report on Tuesday, February 6th. Barclays decreased their price target on shares of Allegiant Travel from $60.00 to $55.00 and set an "equal weight" rating for the company in a research note on Thursday. Finally, Raymond James reduced their price objective on shares of Allegiant Travel from $110.00 to $100.00 and set an "outperform" rating for the company in a report on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $89.13.

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.