Citigroup Inc. cut its position in Allegiant Travel (NASDAQ:ALGT – Free Report) by 37.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,551 shares of the transportation company’s stock after selling 6,796 shares during the quarter. Citigroup Inc.’s holdings in Allegiant Travel were worth $888,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Lazard Asset Management LLC bought a new position in Allegiant Travel in the third quarter valued at about $31,000. Castleview Partners LLC acquired a new stake in shares of Allegiant Travel in the second quarter valued at about $44,000. Steward Partners Investment Advisory LLC increased its stake in shares of Allegiant Travel by 32.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 819 shares of the transportation company’s stock valued at $56,000 after buying an additional 200 shares during the period. Counterpoint Mutual Funds LLC acquired a new stake in shares of Allegiant Travel in the third quarter valued at about $73,000. Finally, State of Wyoming grew its stake in Allegiant Travel by 38.8% during the second quarter. State of Wyoming now owns 691 shares of the transportation company’s stock worth $87,000 after purchasing an additional 193 shares during the period. 81.23% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the company. Susquehanna decreased their target price on Allegiant Travel from $80.00 to $76.00 and set a “neutral” rating for the company in a research note on Friday, February 9th. TD Cowen raised 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. Finally, Raymond James dropped their target price on Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating on the stock in a report on Tuesday, February 6th. Two investment 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $96.57.
Check Out Our Latest Stock Analysis on ALGT
Insider Buying and Selling
In related news, Director Gary Ellmer sold 2,000 shares of the business’s 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 sale, the director now owns 8,490 shares of the company’s stock, valued at $671,559. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.50% of the stock is currently owned by insiders.
Allegiant Travel Price Performance
ALGT stock opened at $67.50 on Tuesday. The firm’s 50-day moving average price is $76.41 and its two-hundred day moving average price is $75.60. Allegiant Travel has a 12-month low of $54.87 and a 12-month high of $130.93. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 0.80 and a beta of 1.58. 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 – Get Free Report) last announced its quarterly earnings results on Monday, February 5th. The transportation company reported $0.11 earnings per share (EPS) for the quarter, beating 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 company had revenue of $611.00 million for the quarter, compared to analysts’ expectations of $596.42 million. During the same quarter in the previous year, the company earned $3.17 earnings per share. Allegiant Travel’s quarterly revenue was down .1% on a year-over-year basis. As a group, equities analysts predict that Allegiant Travel will post 6.68 earnings per share for the current year.
Allegiant Travel Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend was Wednesday, February 14th. Allegiant Travel’s payout ratio is currently 37.97%.
Allegiant Travel Profile
(Free Report)
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.
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