Diamond Hill Capital Management Inc. Sells 460,167 Shares of Allegiant Travel (NASDAQ:ALGT)

Diamond Hill Capital Management Inc. decreased its position in Allegiant Travel (NASDAQ:ALGT - Free Report) by 64.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 251,757 shares of the transportation company's stock after selling 460,167 shares during the quarter. Diamond Hill Capital Management Inc. owned approximately 1.37% of Allegiant Travel worth $23,695,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ALGT. Crews Bank & Trust purchased a new position in shares of Allegiant Travel in the fourth quarter worth about $25,000. Jones Financial Companies Lllp increased its stake in shares of Allegiant Travel by 94.5% in the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company's stock worth $43,000 after purchasing an additional 223 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Allegiant Travel by 53.5% in the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company's stock worth $64,000 after purchasing an additional 236 shares in the last quarter. Mutual of America Capital Management LLC bought a new position in shares of Allegiant Travel in the fourth quarter valued at approximately $207,000. Finally, Cornerstone Investment Partners LLC bought a new position in shares of Allegiant Travel in the fourth quarter valued at approximately $254,000. Institutional investors own 85.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ALGT. Morgan Stanley raised their price objective on shares of Allegiant Travel from $90.00 to $95.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Bank of America lifted their target price on shares of Allegiant Travel from $54.00 to $95.00 and gave the company an "underperform" rating in a research report on Friday, January 17th. The Goldman Sachs Group lifted their target price on shares of Allegiant Travel from $83.00 to $92.00 and gave the company a "neutral" rating in a research report on Tuesday, January 14th. TD Cowen boosted their price objective on shares of Allegiant Travel from $50.00 to $70.00 and gave the stock a "hold" rating in a report on Tuesday, December 17th. Finally, Susquehanna lifted their target price on shares of Allegiant Travel from $60.00 to $105.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $80.10.

Remove Ads

Allegiant Travel Stock Down 3.3 %

Shares of ALGT stock traded down $1.79 during mid-day trading on Tuesday, reaching $52.42. 462,801 shares of the company's stock traded hands, compared to its average volume of 394,605. Allegiant Travel has a 12 month low of $36.09 and a 12 month high of $107.57. The company has a market cap of $961.28 million, a P/E ratio of -3.92 and a beta of 1.64. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The company's 50-day moving average price is $85.58 and its 200-day moving average price is $73.68.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last announced its earnings results on Tuesday, February 4th. The transportation company reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $1.62. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. On average, equities analysts expect that Allegiant Travel will post 7.7 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.