Geneva Capital Management LLC Decreases Stake in Allegiant Travel (NASDAQ:ALGT)

Geneva Capital Management LLC reduced its position in Allegiant Travel (NASDAQ:ALGT) by 1.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 245,480 shares of the transportation company’s stock after selling 3,456 shares during the period. Geneva Capital Management LLC’s holdings in Allegiant Travel were worth $18,463,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALGT. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of Allegiant Travel during the fourth quarter worth about $7,187,000. Franklin Resources Inc. lifted its position 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 last quarter. Kennedy Capital Management LLC bought a new position in shares of Allegiant Travel during the third quarter worth about $1,177,000. First Eagle Investment Management LLC lifted its position in shares of Allegiant Travel by 94.2% during the fourth quarter. First Eagle Investment Management LLC now owns 65,713 shares of the transportation company’s stock worth $5,429,000 after purchasing an additional 31,875 shares during the last quarter. Finally, Jade Capital Advisors LLC bought a new position in shares of Allegiant Travel during the fourth quarter worth about $1,239,000. 85.81% of the stock is owned by hedge funds and other institutional investors.

Allegiant Travel Stock Performance

Shares of NASDAQ:ALGT traded up $1.78 during trading hours on Thursday, hitting $49.09. The stock had a trading volume of 641,086 shares, compared to its average volume of 330,418. The stock’s fifty day simple moving average is $51.76 and its 200 day simple moving average is $65.52. Allegiant Travel has a 1-year low of $43.91 and a 1-year high of $130.93. The firm has a market capitalization of $894.91 million, a price-to-earnings ratio of 14.97, a PEG ratio of 1.22 and a beta of 1.66. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.74 and a current ratio of 0.76.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Tuesday, May 7th. The transportation company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.51 by $0.06. Allegiant Travel had a net margin of 2.26% and a return on equity of 0.50%. The company had revenue of $656.70 million for the quarter, compared to analyst estimates of $645.23 million. During the same quarter last year, the business earned $3.04 earnings per share. Allegiant Travel’s revenue was up 1.1% compared to the same quarter last year. Sell-side analysts anticipate that Allegiant Travel will post 3.62 earnings per share for the current fiscal year.

Allegiant Travel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 15th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.89%. Allegiant Travel’s dividend payout ratio is presently 75.95%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. UBS Group assumed coverage on shares of Allegiant Travel in a report on Wednesday, March 20th. They issued a “sell” rating and a $58.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut shares of Allegiant Travel from a “buy” rating to a “hold” rating and cut their target price for the stock from $75.00 to $53.00 in a report on Monday. Morgan Stanley cut their target price on shares of Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a report on Monday. TD Cowen cut their target price on shares of Allegiant Travel from $65.00 to $60.00 and set a “hold” rating on the stock in a report on Wednesday, May 15th. Finally, Barclays cut their target price 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. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Allegiant Travel has a consensus rating of “Hold” and an average price target of $72.25.

Insider Activity at Allegiant Travel

In related news, EVP Robert Paul Wilson III sold 4,600 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $54.00, for a total transaction of $248,400.00. Following the transaction, the executive vice president now owns 75,698 shares in the company, valued at $4,087,692. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Allegiant Travel news, COO Keny Frank Wilper sold 1,000 shares of Allegiant Travel stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $51.00, for a total value of $51,000.00. Following the transaction, the chief operating officer now owns 9,422 shares in the company, valued at $480,522. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Robert Paul Wilson III sold 4,600 shares of Allegiant Travel stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $54.00, for a total transaction of $248,400.00. Following the completion of the transaction, the executive vice president now owns 75,698 shares in the company, valued at approximately $4,087,692. The disclosure for this sale can be found here. Insiders have sold 26,037 shares of company stock worth $1,395,948 over the last quarter. 17.50% of the stock is currently owned by company insiders.

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.