Sumitomo Mitsui DS Asset Management Company Ltd Buys Shares of 87,000 Allegiant Travel (NASDAQ:ALGT)

Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of Allegiant Travel (NASDAQ:ALGT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 87,000 shares of the transportation company's stock, valued at approximately $7,187,000. Sumitomo Mitsui DS Asset Management Company Ltd owned approximately 0.47% of Allegiant Travel as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ALGT. Counterpoint Mutual Funds LLC bought a new stake in shares of Allegiant Travel during the third quarter valued at approximately $73,000. Tradewinds Capital Management LLC purchased a new position in shares of Allegiant Travel in the fourth quarter worth $83,000. Everence Capital Management Inc. bought a new position in shares of Allegiant Travel during the fourth quarter valued at $208,000. JB Capital LLC purchased a new stake in shares of Allegiant Travel during the fourth quarter valued at $223,000. Finally, Watershed Asset Management L.L.C. purchased a new stake in shares of Allegiant Travel during the third quarter valued at $257,000. Hedge funds and other institutional investors own 85.81% of the company's stock.

Insider Activity at Allegiant Travel

In other news, Director Gary Ellmer sold 2,000 shares of the business's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $79.10, for a total value of $158,200.00. Following the transaction, the director now owns 8,490 shares of the company's stock, valued at $671,559. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 17.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Susquehanna decreased their target price on Allegiant Travel from $76.00 to $65.00 and set a "neutral" rating for the company in a research report on Tuesday, April 9th. UBS Group began coverage on shares of Allegiant Travel in a research report on Wednesday, March 20th. They issued a "sell" rating and a $58.00 target price for the company. TD Cowen boosted their target price on shares of Allegiant Travel from $82.00 to $85.00 and gave the company a "market perform" rating in a research note on Tuesday, February 6th. Raymond James dropped their price target 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. Finally, Barclays reduced their price objective on Allegiant Travel from $65.00 to $60.00 and set an "equal weight" rating for the company in a research report on Friday, April 5th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Allegiant Travel presently has an average rating of "Hold" and an average target price of $89.75.

Allegiant Travel Stock Performance

Shares of NASDAQ ALGT traded down $0.10 during trading on Monday, hitting $62.21. The company had a trading volume of 192,668 shares, compared to its average volume of 256,762. The stock has a 50 day simple moving average of $71.21 and a 200 day simple moving average of $73.08. The firm has a market capitalization of $1.14 billion, a P/E ratio of 9.87, a price-to-earnings-growth ratio of 1.07 and a beta of 1.58. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.80 and a current ratio of 0.83. Allegiant Travel has a 12 month low of $54.87 and a 12 month 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 for the quarter, topping analysts' consensus estimates of ($0.41) by $0.52. The business had revenue of $611.00 million during the quarter, compared to analyst estimates of $596.42 million. Allegiant Travel had a net margin of 4.54% and a return on equity of 3.80%. The company's revenue was down .1% on a year-over-year basis. During the same period in the prior year, the business posted $3.17 earnings per share. As a group, analysts anticipate that Allegiant Travel will post 4.83 earnings per share for the current year.

Allegiant Travel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.86%. The ex-dividend date was Wednesday, February 14th. Allegiant Travel's dividend payout ratio is currently 37.97%.

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.