Allegiant Travel (NASDAQ:ALGT) Shares Sold by Dimensional Fund Advisors LP

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

Several other large investors have also recently added to or reduced their stakes in ALGT. Donald Smith & CO. Inc. boosted its position in Allegiant Travel by 106.7% in the 1st quarter. Donald Smith & CO. Inc. now owns 309,781 shares of the transportation company’s stock valued at $23,299,000 after buying an additional 159,892 shares during the period. Interval Partners LP purchased a new position in Allegiant Travel in the first quarter valued at $5,641,000. American Century Companies Inc. boosted its holdings in Allegiant Travel by 15.1% in the second quarter. American Century Companies Inc. now owns 428,787 shares of the transportation company’s stock valued at $21,538,000 after purchasing an additional 56,208 shares during the period. Vanguard Group Inc. grew its stake in Allegiant Travel by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock worth $131,591,000 after purchasing an additional 38,612 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in Allegiant Travel by 57.5% during the 1st quarter. First Eagle Investment Management LLC now owns 103,513 shares of the transportation company’s stock worth $7,785,000 after purchasing an additional 37,800 shares during the period. 85.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Gary Ellmer sold 1,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the sale, the director now directly owns 7,490 shares of the company’s stock, valued at approximately $337,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 17.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Susquehanna decreased their price objective on Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. TD Cowen decreased their price target 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. Evercore ISI lowered their price target on shares of Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating for the company in a report on Monday, July 15th. Barclays reduced their price objective on shares of 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, Morgan Stanley lowered 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 investment 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’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $59.50.

Allegiant Travel Stock Up 4.1 %

ALGT stock opened at $55.06 on Tuesday. The stock has a market cap of $1.00 billion, a P/E ratio of 17.42, a PEG 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 twelve month low of $36.08 and a twelve month high of $85.91. The company’s 50 day moving average is $43.91 and its two-hundred day moving average is $52.08.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Wednesday, July 31st. The transportation company reported $1.77 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 for the quarter, compared to analyst estimates of $657.74 million. During the same period last year, the business earned $4.35 EPS. Allegiant Travel’s revenue for the quarter was down 2.6% compared to the same quarter last year. Research analysts expect that Allegiant Travel will post 0.97 earnings per share for the current fiscal year.

Allegiant Travel Company 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.