Illinois Municipal Retirement Fund Sells 918 Shares of Allegiant Travel (NASDAQ:ALGT)

Illinois Municipal Retirement Fund trimmed its position in Allegiant Travel (NASDAQ:ALGT) by 9.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 8,389 shares of the transportation company’s stock after selling 918 shares during the period. Illinois Municipal Retirement Fund’s holdings in Allegiant Travel were worth $693,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Tradewinds Capital Management LLC bought a new position in shares of Allegiant Travel in the 4th quarter valued at $83,000. Everence Capital Management Inc. bought a new position in shares of Allegiant Travel in the 4th quarter valued at $208,000. JB Capital LLC bought a new position in shares of Allegiant Travel in the 4th quarter valued at $223,000. Watershed Asset Management L.L.C. bought a new position in shares of Allegiant Travel in the 3rd quarter valued at $257,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Allegiant Travel in the 4th quarter valued at $293,000. 85.81% of the stock is currently owned by institutional investors.

Allegiant Travel Stock Performance

Shares of Allegiant Travel stock opened at $56.74 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.80 and a debt-to-equity ratio of 1.37. The business has a 50-day moving average price of $68.66 and a two-hundred day moving average price of $72.37. Allegiant Travel has a 1-year low of $54.87 and a 1-year high of $130.93. The company has a market cap of $1.04 billion, a P/E ratio of 8.98, a PEG ratio of 0.98 and a beta of 1.58.

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

Allegiant Travel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 15th were paid a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $2.40 annualized dividend and a dividend yield of 4.23%. Allegiant Travel’s dividend payout ratio is presently 37.97%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ALGT shares. Raymond James lowered their target price on Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, February 6th. TD Cowen raised their target price on Allegiant Travel from $82.00 to $85.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 6th. UBS Group started coverage on Allegiant Travel in a research report on Wednesday, March 20th. They set a “sell” rating and a $58.00 target price for the company. Susquehanna lowered their target price on Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating for the company in a research report on Tuesday, April 9th. Finally, Barclays lowered 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 analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $89.75.

Insider Activity

In other news, Director Gary Ellmer sold 2,000 shares of the firm’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 completion of the sale, the director now directly owns 8,490 shares in the company, valued at approximately $671,559. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 17.50% of the stock is currently owned by company 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.