Principal Financial Group Inc. Decreases Stock Holdings in Allegiant Travel (NASDAQ:ALGT)

Principal Financial Group Inc. lessened its holdings in Allegiant Travel (NASDAQ:ALGT) by 4.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,392 shares of the transportation company’s stock after selling 3,171 shares during the period. Principal Financial Group Inc. owned 0.39% of Allegiant Travel worth $3,586,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Innealta Capital LLC acquired a new position in shares of Allegiant Travel in the second quarter valued at approximately $34,000. CWM LLC lifted its position 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 worth $64,000 after buying an additional 930 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Allegiant Travel in the 1st quarter worth about $141,000. Commerce Bank acquired a new stake in shares of Allegiant Travel in the 4th quarter worth about $201,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Allegiant Travel in the 4th quarter worth about $213,000. Institutional investors and hedge funds own 85.81% of the company’s stock.

Insider Transactions at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $45.00, for a total transaction of $45,000.00. Following the sale, the director now owns 7,490 shares of the company’s stock, valued at approximately $337,050. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 17.50% of the stock is owned by insiders.

Allegiant Travel Trading Down 3.9 %

Shares of Allegiant Travel stock opened at $40.02 on Wednesday. The firm has a market capitalization of $729.64 million, a PE ratio of 12.66, a price-to-earnings-growth ratio of 7.92 and a beta of 1.64. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.74 and a quick ratio of 0.71. The company’s fifty day moving average price is $44.75 and its two-hundred day moving average price is $54.72. Allegiant Travel has a 52-week low of $36.08 and a 52-week high of $89.31.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Wednesday, July 31st. The transportation company reported $1.77 earnings per share 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 business had revenue of $666.28 million for the quarter, compared to analyst estimates of $657.74 million. During the same quarter in the prior year, the firm earned $4.35 EPS. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, analysts expect that Allegiant Travel will post 0.66 EPS for the current year.

Analyst Ratings Changes

ALGT has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft cut shares of Allegiant Travel from a “buy” rating to a “hold” rating and lowered their target price for the company from $75.00 to $53.00 in a research note on Monday, July 8th. Susquehanna lowered their price objective on shares of Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. TD Cowen reduced their target price on shares of Allegiant Travel from $39.00 to $33.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Barclays reduced their price objective on shares of Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Finally, Morgan Stanley cut their target price on shares of Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating for the company in a research note on Monday, July 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.