Dimensional Fund Advisors LP Lowers Holdings in Allegiant Travel (NASDAQ:ALGT)

Dimensional Fund Advisors LP lowered its stake in shares of Allegiant Travel (NASDAQ:ALGT) by 5.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 792,618 shares of the transportation company’s stock after selling 49,613 shares during the period. Dimensional Fund Advisors LP owned about 4.35% of Allegiant Travel worth $39,814,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Innealta Capital LLC acquired a new position in shares of Allegiant Travel in the second quarter worth about $34,000. CWM LLC increased its stake in shares of Allegiant Travel by 275.1% in the 2nd quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 930 shares in the last quarter. Headlands Technologies LLC raised its holdings in Allegiant Travel by 170.6% in the 2nd quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock worth $127,000 after purchasing an additional 1,590 shares during the period. SG Americas Securities LLC purchased a new position in Allegiant Travel during the first quarter worth approximately $141,000. Finally, Commerce Bank acquired a new stake in Allegiant Travel in the fourth quarter valued at approximately $201,000. Institutional investors and hedge funds own 85.81% of the company’s stock.

Insider Activity

In related news, Director Gary Ellmer sold 1,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the transaction, the director now owns 7,490 shares of the company’s stock, valued at approximately $337,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 17.50% of the company’s stock.

Allegiant Travel Stock Up 4.1 %

Shares of NASDAQ ALGT opened at $55.06 on Tuesday. The stock has a market cap of $1.00 billion, a PE ratio of 17.42, a P/E/G ratio of 6.10 and a beta of 1.64. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.30. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $85.91. The company has a 50-day moving average of $43.91 and a 200 day moving average of $52.08.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Wednesday, July 31st. The transportation company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.93. Allegiant Travel had a negative net margin of 0.57% and a positive return on equity of 3.48%. The firm had revenue of $666.28 million during the quarter, compared to analysts’ expectations of $657.74 million. During the same period last year, the business earned $4.35 earnings per share. Allegiant Travel’s revenue was down 2.6% compared to the same quarter last year. As a group, sell-side analysts predict that Allegiant Travel will post 0.97 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ALGT shares. Morgan Stanley dropped their price target on shares of Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Monday, July 8th. Evercore ISI cut their target price on shares of Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating for the company in a research note on Monday, July 15th. Susquehanna reduced their price target on shares of Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Barclays lowered their price objective on Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft cut Allegiant Travel from a “buy” rating to a “hold” rating and reduced their target price for the company from $75.00 to $53.00 in a report on Monday, July 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $59.50.

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.