Allegiant Travel (NASDAQ:ALGT) Short Interest Update

Allegiant Travel (NASDAQ:ALGT) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 810,800 shares, an increase of 8.6% from the March 31st total of 746,400 shares. Approximately 5.4% of the company’s shares are sold short. Based on an average trading volume of 263,900 shares, the short-interest ratio is presently 3.1 days.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ALGT shares. Barclays cut their target price on shares of Allegiant Travel from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Friday, April 5th. Susquehanna cut their price objective on shares of Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 9th. UBS Group started coverage on Allegiant Travel in a research report on Wednesday, March 20th. They issued a “sell” rating and a $58.00 target price for the company. 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. Finally, TD Cowen boosted their price objective on Allegiant Travel from $82.00 to $85.00 and gave the company a “market perform” rating in a report on Tuesday, February 6th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Allegiant Travel currently has a consensus rating of “Hold” and a consensus target price of $89.75.

Insiders Place Their Bets

In other news, Director Gary Ellmer sold 2,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $79.10, for a total value of $158,200.00. Following the transaction, the director now directly owns 8,490 shares of the company’s stock, valued at approximately $671,559. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Allegiant Travel

A number of large investors have recently modified their holdings of the company. Diamond Hill Capital Management Inc. grew its holdings in shares of Allegiant Travel by 11.7% during the third 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 in the last quarter. Dimensional Fund Advisors LP grew its stake in Allegiant Travel by 14.1% in 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 in the last quarter. U S Global Investors Inc. increased its holdings 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 worth $53,453,000 after buying an additional 122,844 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Allegiant Travel by 15.4% during the 4th quarter. Franklin Resources Inc. now owns 620,180 shares of the transportation company’s stock valued at $51,233,000 after buying an additional 82,813 shares in the last quarter. Finally, American Century Companies Inc. lifted 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 acquiring an additional 42,688 shares during the last quarter. 85.81% of the stock is currently owned by institutional investors.

Allegiant Travel Stock Down 0.5 %

Allegiant Travel stock opened at $56.74 on Tuesday. The firm has a 50 day moving average price of $68.66 and a 200-day moving average price of $72.37. The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 1.37. Allegiant Travel has a twelve month low of $54.87 and a twelve month high of $130.93. The company has a market capitalization of $1.04 billion, a P/E ratio of 8.98, a P/E/G ratio of 0.98 and a beta of 1.58.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Monday, February 5th. The transportation company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.52. Allegiant Travel had a return on equity of 3.80% and a net margin of 4.54%. The business had revenue of $611.00 million during the quarter, compared to analyst estimates of $596.42 million. During the same period in the prior year, the company earned $3.17 earnings per share. Allegiant Travel’s revenue was down .1% compared to the same quarter last year. As a group, equities analysts predict that Allegiant Travel will post 4.83 EPS for the current year.

Allegiant Travel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 15th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend was Wednesday, February 14th. Allegiant Travel’s 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.