First Eagle Investment Management LLC Acquires 31,875 Shares of Allegiant Travel (NASDAQ:ALGT)

First Eagle Investment Management LLC raised its stake in Allegiant Travel (NASDAQ:ALGT - Free Report) by 94.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 65,713 shares of the transportation company's stock after buying an additional 31,875 shares during the quarter. First Eagle Investment Management LLC owned 0.36% of Allegiant Travel worth $5,429,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Diamond Hill Capital Management Inc. increased its stake in shares of Allegiant Travel by 11.7% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 861,674 shares of the transportation company's stock worth $66,228,000 after purchasing an additional 90,496 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Allegiant Travel by 14.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 798,573 shares of the transportation company's stock worth $65,972,000 after buying an additional 98,662 shares during the period. U S Global Investors Inc. boosted its holdings in shares of Allegiant Travel by 23.4% during the 4th quarter. U S Global Investors Inc. now owns 647,055 shares of the transportation company's stock worth $53,453,000 after buying an additional 122,844 shares during the period. American Century Companies Inc. boosted its holdings in shares of Allegiant Travel by 19.4% during the 3rd quarter. American Century Companies Inc. now owns 263,096 shares of the transportation company's stock worth $20,222,000 after buying an additional 42,688 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in shares of Allegiant Travel during the 4th quarter worth $141,350,000. Institutional investors and hedge funds own 85.81% of the company's stock.

Analyst Upgrades and Downgrades

ALGT has been the subject of several recent analyst reports. TD Cowen decreased their price objective on shares of Allegiant Travel from $65.00 to $60.00 and set a "hold" rating for the company in a report on Wednesday. Barclays decreased their price objective on shares of Allegiant Travel from $60.00 to $55.00 and set an "equal weight" rating for the company in a report on Thursday, May 9th. Susquehanna decreased their price objective 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 started coverage on shares of Allegiant Travel in a report on Wednesday, March 20th. They set a "sell" rating and a $58.00 price objective for the company. Finally, Raymond James reduced their price target 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 research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Allegiant Travel presently has a consensus rating of "Hold" and an average target price of $86.00.

Allegiant Travel Stock Performance

Allegiant Travel stock traded down $1.78 during mid-day trading on Friday, reaching $52.98. The company had a trading volume of 238,414 shares, compared to its average volume of 402,495. The company has a 50 day moving average of $63.02 and a 200-day moving average of $70.80. The firm has a market cap of $965.83 million, a price-to-earnings ratio of 16.77, a PEG ratio of 1.23 and a beta of 1.63. Allegiant Travel has a 52 week low of $51.13 and a 52 week high of $130.93. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 1.35.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last released its quarterly earnings data on Tuesday, May 7th. The transportation company reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.06. The company had revenue of $656.70 million during the quarter, compared to the consensus estimate of $645.23 million. Allegiant Travel had a net margin of 2.26% and a return on equity of 0.50%. The firm's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the firm earned $3.04 EPS. On average, sell-side analysts expect that Allegiant Travel will post 4.17 EPS for the current fiscal year.

Allegiant Travel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date of this dividend is Tuesday, May 14th. Allegiant Travel's payout ratio is 75.95%.

Insider Transactions at Allegiant Travel

In other news, EVP Robert Paul Wilson III sold 4,600 shares of the firm's stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $54.00, for a total transaction of $248,400.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Robert Paul Wilson III sold 4,600 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $54.00, for a total transaction of $248,400.00. Following the completion of the sale, the executive vice president now owns 75,698 shares in the company, valued at approximately $4,087,692. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Scott Wayne Deangelo sold 19,687 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $53.68, for a total transaction of $1,056,798.16. Following the sale, the chief marketing officer now owns 64,812 shares of the company's stock, valued at approximately $3,479,108.16. The disclosure for this sale can be found here. 17.50% of the stock is owned by insiders.

Allegiant Travel 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.