Allegiant Travel (NASDAQ:ALGT) Short Interest Down 22.9% in June

Allegiant Travel (NASDAQ:ALGT - Get Free Report) was the recipient of a large decline in short interest in June. As of June 15th, there was short interest totalling 1,310,000 shares, a decline of 22.9% from the May 31st total of 1,700,000 shares. Approximately 8.7% of the company's stock are sold short. Based on an average daily trading volume, of 360,500 shares, the short-interest ratio is currently 3.6 days.

Insider Activity

In other news, EVP Robert Paul Wilson III sold 4,600 shares of the business's stock in a transaction 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 sale, the executive vice president now owns 75,698 shares in the company, valued at approximately $4,087,692. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, COO Keny Frank Wilper sold 1,000 shares of the company's stock in a transaction dated 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 approximately $480,522. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Robert Paul Wilson III sold 4,600 shares of the company's stock in a transaction dated 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 approximately $4,087,692. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,037 shares of company stock worth $1,395,948. Corporate insiders own 17.50% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Allegiant Travel by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company's stock valued at $131,591,000 after acquiring an additional 38,612 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Allegiant Travel by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 798,573 shares of the transportation company's stock worth $65,972,000 after buying an additional 98,662 shares during the last quarter. U S Global Investors Inc. lifted its position in Allegiant Travel by 23.4% in the fourth quarter. U S Global Investors Inc. now owns 647,055 shares of the transportation company's stock worth $53,453,000 after buying an additional 122,844 shares during the last quarter. Franklin Resources Inc. lifted its position in Allegiant Travel by 15.4% in the fourth quarter. Franklin Resources Inc. now owns 620,180 shares of the transportation company's stock worth $51,233,000 after buying an additional 82,813 shares during the last quarter. Finally, Donald Smith & CO. Inc. lifted its position in Allegiant Travel by 106.7% in the first quarter. Donald Smith & CO. Inc. now owns 309,781 shares of the transportation company's stock worth $23,299,000 after buying an additional 159,892 shares during the last quarter. 85.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. UBS Group began coverage on shares of Allegiant Travel in a research note on Wednesday, March 20th. They set a "sell" rating and a $58.00 target price on the stock. Barclays reduced their price target on shares of Allegiant Travel from $60.00 to $55.00 and set an "equal weight" rating for the company in a research report on Thursday, May 9th. TD Cowen reduced their price target on shares of Allegiant Travel from $65.00 to $60.00 and set a "hold" rating for the company in a research report on Wednesday, May 15th. Finally, Susquehanna reduced their price target on shares of Allegiant Travel from $76.00 to $65.00 and set a "neutral" rating for the company in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Allegiant Travel presently has a consensus rating of "Hold" and a consensus target price of $77.57.

Allegiant Travel Price Performance

ALGT stock traded down $0.08 during midday trading on Friday, hitting $50.23. The company's stock had a trading volume of 631,092 shares, compared to its average volume of 361,745. Allegiant Travel has a 12 month low of $46.90 and a 12 month high of $130.93. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $915.69 million, a price-to-earnings ratio of 15.90, a price-to-earnings-growth ratio of 1.34 and a beta of 1.65. The company has a 50 day moving average of $53.38 and a two-hundred day moving average of $67.45.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The transportation company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.06. Allegiant Travel had a return on equity of 0.50% and a net margin of 2.26%. The business had revenue of $656.70 million during the quarter, compared to the consensus estimate of $645.23 million. During the same period in the prior year, the company posted $3.04 EPS. The firm's revenue for the quarter was up 1.1% compared to the same quarter last year. On average, analysts expect that Allegiant Travel will post 3.62 EPS for the current year.

Allegiant Travel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th were paid a $0.60 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $2.40 annualized dividend and a yield of 4.78%. Allegiant Travel's payout ratio is 75.95%.

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.