Allegiant Travel (NASDAQ:ALGT) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its position in shares of Allegiant Travel (NASDAQ:ALGT) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 168,204 shares of the transportation company’s stock after acquiring an additional 2,956 shares during the period. Bank of New York Mellon Corp owned approximately 0.93% of Allegiant Travel worth $15,471,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Privium Fund Management UK Ltd purchased a new position in shares of Allegiant Travel in the 4th quarter valued at $462,000. Quadrant Capital Group LLC lifted its stake in shares of Allegiant Travel by 21.9% during the fourth quarter. Quadrant Capital Group LLC now owns 923 shares of the transportation company’s stock worth $63,000 after purchasing an additional 166 shares in the last quarter. New York State Teachers Retirement System lifted its stake in shares of Allegiant Travel by 1.0% during the first quarter. New York State Teachers Retirement System now owns 20,154 shares of the transportation company’s stock worth $1,854,000 after purchasing an additional 207 shares in the last quarter. 180 Wealth Advisors LLC purchased a new stake in shares of Allegiant Travel in the first quarter worth about $727,000. Finally, Capital Investment Services of America Inc. grew its stake in shares of Allegiant Travel by 38.6% in the first quarter. Capital Investment Services of America Inc. now owns 90,401 shares of the transportation company’s stock valued at $8,315,000 after buying an additional 25,190 shares in the last quarter. 81.23% of the stock is currently owned by institutional investors and hedge funds.

Allegiant Travel Stock Down 0.4 %

Shares of Allegiant Travel stock opened at $88.56 on Thursday. The business has a 50-day moving average price of $114.81 and a 200 day moving average price of $104.69. Allegiant Travel has a fifty-two week low of $62.94 and a fifty-two week high of $130.93. The firm has a market cap of $1.63 billion, a P/E ratio of 10.83 and a beta of 1.69. The company has a quick ratio of 1.10, a current ratio of 1.13 and a debt-to-equity ratio of 1.37.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings results on Wednesday, August 2nd. The transportation company reported $4.35 earnings per share for the quarter, beating analysts’ consensus estimates of $3.63 by $0.72. The business had revenue of $683.81 million during the quarter, compared to the consensus estimate of $662.10 million. Allegiant Travel had a return on equity of 7.46% and a net margin of 5.87%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.62 EPS. On average, sell-side analysts forecast that Allegiant Travel will post 10.5 earnings per share for the current fiscal year.

Allegiant Travel Announces Dividend

The firm also recently declared a — dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, August 14th. Allegiant Travel’s dividend payout ratio (DPR) is presently 29.34%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Evercore ISI reduced their price target on Allegiant Travel from $125.00 to $110.00 and set an “in-line” rating on the stock in a research report on Monday. Susquehanna raised their price target on shares of Allegiant Travel from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, August 8th. Barclays boosted their price objective on shares of Allegiant Travel from $105.00 to $122.00 in a report on Thursday, July 13th. StockNews.com assumed coverage on shares of Allegiant Travel in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft raised Allegiant Travel from a “hold” rating to a “buy” rating and lifted their target price for the stock from $110.00 to $145.00 in a research report on Thursday, June 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $110.55.

Insider Activity at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 2,000 shares of Allegiant Travel stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $104.76, for a total value of $209,520.00. Following the completion of the transaction, the director now directly owns 10,490 shares in the company, valued at $1,098,932.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 17.50% of the company’s stock.

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, 2023, it operated a fleet of 122 Airbus A320 series aircraft.