Allegiant Travel (NASDAQ:ALGT) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its holdings in shares of Allegiant Travel (NASDAQ:ALGT) by 1.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 19,832 shares of the transportation company’s stock after selling 200 shares during the period. New York State Teachers Retirement System’s holdings in Allegiant Travel were worth $1,638,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ALGT. Price T Rowe Associates Inc. MD raised its stake in shares of Allegiant Travel by 220.5% during 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 buying an additional 915,511 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in Allegiant Travel by 20.6% in the 4th 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 purchasing an additional 271,378 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Allegiant Travel by 52.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 549,490 shares of the transportation company’s stock valued at $50,540,000 after purchasing an additional 188,649 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Allegiant Travel in the 4th quarter valued at $141,350,000. Finally, U S Global Investors Inc. raised its stake in 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 valued at $53,453,000 after purchasing an additional 122,844 shares during the last quarter. 85.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 2,000 shares of Allegiant Travel stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $79.10, for a total transaction of $158,200.00. Following the completion of the sale, the director now directly owns 8,490 shares in the company, valued at $671,559. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 17.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. TD Cowen increased their price objective on Allegiant Travel from $82.00 to $85.00 and gave the company a “market perform” rating in a research note on Tuesday, February 6th. 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 note on Friday, April 5th. UBS Group assumed coverage on Allegiant Travel in a research note on Wednesday, March 20th. They issued a “sell” rating and a $58.00 price objective for the company. Raymond James reduced their price objective on Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, February 6th. Finally, Susquehanna reduced their price objective on Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating for the company in a research note on Tuesday, April 9th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $89.75.

Allegiant Travel Price Performance

Allegiant Travel stock opened at $60.52 on Wednesday. Allegiant Travel has a 12-month low of $54.87 and a 12-month high of $130.93. The stock has a market cap of $1.11 billion, a P/E ratio of 9.58, a PEG ratio of 0.98 and a beta of 1.58. The company has a 50-day moving average price of $72.16 and a 200 day moving average price of $73.36. The company has a current ratio of 0.83, a quick ratio of 0.80 and a debt-to-equity ratio of 1.37.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Monday, February 5th. The transportation company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.52. Allegiant Travel had a net margin of 4.54% and a return on equity of 3.80%. The firm had revenue of $611.00 million during the quarter, compared to analysts’ expectations of $596.42 million. During the same period last year, the business earned $3.17 earnings per share. Allegiant Travel’s revenue was down .1% compared to the same quarter last year. Sell-side analysts anticipate that Allegiant Travel will post 5.22 earnings per share for the current year.

Allegiant Travel Announces Dividend

The company also recently disclosed 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 yield of 3.97%. The ex-dividend date of this dividend was Wednesday, February 14th. Allegiant Travel’s payout ratio is currently 37.97%.

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.