Short Interest in Allegiant Travel (NASDAQ:ALGT) Expands By 8.6%

Allegiant Travel (NASDAQ:ALGT - Get Free Report) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 810,800 shares, an increase of 8.6% from the March 31st total of 746,400 shares. Based on an average trading volume of 263,900 shares, the short-interest ratio is currently 3.1 days. Currently, 5.4% of the shares of the stock are sold short.

Allegiant Travel Trading Down 3.8 %

Shares of NASDAQ ALGT traded down $2.18 during trading on Tuesday, hitting $54.56. 375,530 shares of the company traded hands, compared to its average volume of 264,627. The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $997.90 million, a P/E ratio of 8.63, a P/E/G ratio of 0.98 and a beta of 1.58. The company has a 50-day moving average price of $68.66 and a 200-day moving average price of $72.37. Allegiant Travel has a 1 year low of $54.29 and a 1 year high of $130.93.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its quarterly earnings results on Monday, February 5th. The transportation company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.41) by $0.52. The firm had revenue of $611.00 million during the quarter, compared to the consensus estimate of $596.42 million. Allegiant Travel had a return on equity of 3.80% and a net margin of 4.54%. The firm's quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.17 earnings per share. On average, equities analysts predict that Allegiant Travel will post 4.83 EPS for the current year.

Allegiant Travel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 15th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend was Wednesday, February 14th. Allegiant Travel's dividend payout ratio (DPR) is currently 37.97%.

Wall Street Analysts Forecast Growth

ALGT has been the topic of a number of analyst reports. Raymond James decreased their price objective on Allegiant Travel from $110.00 to $100.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 6th. TD Cowen boosted their price objective on shares of Allegiant Travel from $82.00 to $85.00 and gave the company a "market perform" rating in a research report on Tuesday, February 6th. Barclays reduced their price objective on shares of Allegiant Travel from $65.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Friday, April 5th. Susquehanna reduced their price target on Allegiant Travel from $76.00 to $65.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 9th. Finally, UBS Group started coverage on Allegiant Travel in a research report on Wednesday, March 20th. They issued a "sell" rating and a $58.00 price objective for the company. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Allegiant Travel currently has a consensus rating of "Hold" and a consensus price target of $89.75.

Insider Activity at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 2,000 shares of the company's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $79.10, for a total value of $158,200.00. Following the sale, the director now owns 8,490 shares of the company's stock, valued at $671,559. The sale 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 owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC acquired a new position in Allegiant Travel in the fourth quarter worth about $28,000. Tradewinds Capital Management LLC acquired a new stake in shares of Allegiant Travel during the 4th quarter valued at approximately $83,000. Commerce Bank bought a new position in Allegiant Travel during the fourth quarter worth $201,000. Everence Capital Management Inc. acquired a new position in Allegiant Travel in the fourth quarter worth $208,000. Finally, Aigen Investment Management LP bought a new stake in Allegiant Travel during the fourth quarter valued at $213,000. 85.81% of the stock is currently owned by institutional investors.

About Allegiant Travel

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.