Rhumbline Advisers Has $2.42 Million Stock Position in Allegiant Travel (NASDAQ:ALGT)

Rhumbline Advisers cut its stake in shares of Allegiant Travel (NASDAQ:ALGT) by 1.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,161 shares of the transportation company’s stock after selling 805 shares during the period. Rhumbline Advisers owned approximately 0.26% of Allegiant Travel worth $2,419,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ALGT. Charles Schwab Investment Management Inc. grew its stake in shares of Allegiant Travel by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 123,577 shares of the transportation company’s stock worth $10,209,000 after purchasing an additional 2,168 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Allegiant Travel by 14.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 798,573 shares of the transportation company’s stock worth $65,972,000 after purchasing an additional 98,662 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Allegiant Travel during the fourth quarter worth $684,000. Franklin Resources Inc. grew its stake in shares of Allegiant Travel by 15.4% during the fourth quarter. Franklin Resources Inc. now owns 620,180 shares of the transportation company’s stock worth $51,233,000 after purchasing an additional 82,813 shares during the period. Finally, Aigen Investment Management LP acquired a new stake in shares of Allegiant Travel during the fourth quarter worth $213,000. 85.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Gary Ellmer sold 1,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was 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 in the company, valued at $337,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 17.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ALGT. Morgan Stanley decreased their price objective on 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. Barclays reduced their target price 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. Deutsche Bank Aktiengesellschaft lowered Allegiant Travel from a “buy” rating to a “hold” rating and reduced their target price for the stock from $75.00 to $53.00 in a report on Monday, July 8th. Evercore ISI reduced their target price on Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating on the stock in a report on Monday, July 15th. Finally, TD Cowen reduced their target price on Allegiant Travel from $39.00 to $33.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Allegiant Travel currently has an average rating of “Hold” and a consensus target price of $59.50.

Allegiant Travel Stock Performance

Shares of Allegiant Travel stock opened at $42.84 on Thursday. The firm has a market cap of $781.06 million, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 5.50 and a beta of 1.64. The stock’s 50-day moving average is $44.21 and its 200-day moving average is $53.58. Allegiant Travel has a one year low of $36.08 and a one year high of $85.91. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.74 and a quick ratio of 0.71.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings results on Wednesday, July 31st. The transportation company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.93. The company had revenue of $666.28 million for the quarter, compared to analyst estimates of $657.74 million. Allegiant Travel had a positive return on equity of 3.48% and a negative net margin of 0.57%. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $4.35 earnings per share. Equities analysts predict that Allegiant Travel will post 0.96 earnings per share for the current fiscal year.

About Allegiant Travel

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.