Allegiant Travel (NASDAQ:ALGT) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA lessened its stake in shares of Allegiant Travel (NASDAQ:ALGT) by 1.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 41,150 shares of the transportation company’s stock after selling 800 shares during the period. Primecap Management Co. CA owned about 0.23% of Allegiant Travel worth $2,067,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Innealta Capital LLC acquired a new stake in shares of Allegiant Travel during the second quarter worth $34,000. CWM LLC increased its stake in 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 purchasing an additional 930 shares in the last quarter. SG Americas Securities LLC purchased a new position in Allegiant Travel in the 1st quarter worth about $141,000. Commerce Bank acquired a new stake in Allegiant Travel during the 4th quarter worth about $201,000. Finally, Headlands Technologies LLC lifted its stake in Allegiant Travel by 170.6% during the second quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock valued at $127,000 after buying an additional 1,590 shares in the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

Insider Transactions at Allegiant Travel

In related news, Director Gary Ellmer sold 1,000 shares of Allegiant Travel stock in a transaction on Monday, August 26th. The shares were 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 owns 7,490 shares of the company’s stock, valued at approximately $337,050. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 17.50% of the stock is currently owned by company insiders.

Allegiant Travel Stock Performance

Shares of ALGT stock opened at $42.84 on Thursday. Allegiant Travel has a fifty-two week low of $36.08 and a fifty-two week high of $85.91. The stock’s 50-day moving average is $44.21 and its two-hundred day moving average is $53.58. 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 firm has a market cap of $781.06 million, a P/E ratio of 13.56, a PEG ratio of 5.50 and a beta of 1.64.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ALGT. Susquehanna dropped their target price 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. Deutsche Bank Aktiengesellschaft downgraded shares of Allegiant Travel from a “buy” rating to a “hold” rating and cut their target price for the company from $75.00 to $53.00 in a research note on Monday, July 8th. Evercore ISI decreased their target price on Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating for the company in a research report on Monday, July 15th. Morgan Stanley lowered their price target on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. Finally, Barclays reduced their price objective on 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. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently 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.