International Assets Investment Management LLC Invests $141.35 Million in Allegiant Travel (NASDAQ:ALGT)

International Assets Investment Management LLC bought a new position in Allegiant Travel (NASDAQ:ALGT - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 171,105 shares of the transportation company's stock, valued at approximately $141,350,000. International Assets Investment Management LLC owned approximately 0.93% of Allegiant Travel at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in Allegiant Travel by 220.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,330,668 shares of the transportation company's stock worth $150,485,000 after purchasing an additional 915,511 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Allegiant Travel by 20.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,590,165 shares of the transportation company's stock valued at $108,116,000 after buying an additional 271,378 shares during the period. Dimensional Fund Advisors LP boosted its stake in Allegiant Travel by 52.3% during the first quarter. Dimensional Fund Advisors LP now owns 549,490 shares of the transportation company's stock worth $50,540,000 after acquiring an additional 188,649 shares in the last quarter. U S Global Investors Inc. boosted its position in shares of Allegiant Travel by 23.4% in the 4th quarter. U S Global Investors Inc. now owns 647,055 shares of the transportation company's stock worth $53,453,000 after purchasing an additional 122,844 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Allegiant Travel in the third quarter worth $8,248,000. Institutional investors own 85.81% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. TD Cowen raised their price target on shares of Allegiant Travel from $82.00 to $85.00 and gave the company a "market perform" rating in a report on Tuesday, February 6th. Susquehanna lowered their price target on shares of Allegiant Travel from $80.00 to $76.00 and set a "neutral" rating on the stock in a report on Friday, February 9th. Barclays decreased 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 report on Friday. UBS Group assumed coverage on shares of Allegiant Travel in a report on Wednesday, March 20th. They issued a "sell" rating and a $58.00 target price for the company. Finally, Raymond James decreased their price target on Allegiant Travel from $110.00 to $100.00 and set an "outperform" rating on the stock in a report on Tuesday, February 6th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Allegiant Travel has an average rating of "Hold" and an average target price of $91.13.

Allegiant Travel Trading Down 0.1 %

NASDAQ ALGT traded down $0.09 on Friday, hitting $65.63. 419,751 shares of the stock were exchanged, compared to its average volume of 248,319. Allegiant Travel has a 52-week low of $54.87 and a 52-week high of $130.93. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.80 and a current ratio of 0.83. The stock has a fifty day moving average price of $74.34 and a two-hundred day moving average price of $74.04. The firm has a market capitalization of $1.20 billion, a P/E ratio of 10.38, a P/E/G ratio of 0.83 and a beta of 1.58.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last announced 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 analyst estimates of $596.42 million. Allegiant Travel had a return on equity of 3.80% and a net margin of 4.54%. Allegiant Travel's quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.17 earnings per share. Research analysts forecast that Allegiant Travel will post 6.36 EPS for the current fiscal year.

Allegiant Travel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Thursday, February 15th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend was Wednesday, February 14th. Allegiant Travel's payout ratio is 37.97%.

Insider Transactions at Allegiant Travel

In other news, Director Gary Ellmer sold 2,000 shares of the company's stock in a transaction dated Monday, February 12th. The stock was 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 in the company, valued at $671,559. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 17.50% of the company's stock.

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.