Louisiana State Employees Retirement System Purchases New Shares in Allegiant Travel (NASDAQ:ALGT)

Louisiana State Employees Retirement System acquired a new position in Allegiant Travel (NASDAQ:ALGT) during the fourth quarter, Holdings Channel.com reports. The firm acquired 7,500 shares of the transportation company’s stock, valued at approximately $620,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALGT. International Assets Investment Management LLC acquired a new position in shares of Allegiant Travel in the fourth quarter worth about $141,350,000. U S Global Investors Inc. raised 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 valued at $53,453,000 after purchasing an additional 122,844 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Allegiant Travel during the third quarter worth approximately $8,248,000. Diamond Hill Capital Management Inc. grew its position 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 valued at $66,228,000 after buying an additional 90,496 shares during the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in Allegiant Travel during the third quarter worth about $5,364,000. 85.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on ALGT shares. TD Cowen upped their target price on Allegiant Travel from $82.00 to $85.00 and gave the company a “market perform” rating in a report on Tuesday, February 6th. UBS Group assumed coverage on Allegiant Travel in a research report on Wednesday, March 20th. They issued a “sell” rating and a $58.00 target price on the stock. Raymond James cut 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. Susquehanna reduced 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. Finally, Barclays cut their target price 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 research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $89.75.

Insider Buying and Selling at Allegiant Travel

In related news, Director Gary Ellmer sold 2,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 8,490 shares of the company’s stock, valued at approximately $671,559. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 17.50% of the company’s stock.

Allegiant Travel Stock Down 1.6 %

ALGT stock opened at $57.04 on Monday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.83 and a quick ratio of 0.80. The firm has a market cap of $1.04 billion, a PE ratio of 9.03, a P/E/G ratio of 0.98 and a beta of 1.58. Allegiant Travel has a 12 month low of $54.87 and a 12 month high of $130.93. The firm has a 50 day simple moving average of $69.15 and a 200 day simple moving average of $72.49.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Monday, February 5th. The transportation company reported $0.11 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 3.80% and a net margin of 4.54%. The company’s revenue was down .1% compared to the same quarter last year. During the same period last year, the company posted $3.17 EPS. Equities research analysts forecast that Allegiant Travel will post 4.83 earnings per share for the current fiscal year.

Allegiant Travel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Thursday, February 15th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $2.40 annualized dividend and a yield of 4.21%. Allegiant Travel’s payout ratio is presently 37.97%.

Allegiant Travel Company 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.