Everence Capital Management Inc. Purchases Shares of 2,520 Allegiant Travel (NASDAQ:ALGT)

Everence Capital Management Inc. purchased a new stake in shares of Allegiant Travel (NASDAQ:ALGT) during the fourth quarter, HoldingsChannel reports. The fund purchased 2,520 shares of the transportation company’s stock, valued at approximately $208,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Lazard Asset Management LLC bought a new stake in shares of Allegiant Travel in the third quarter worth about $31,000. Castleview Partners LLC bought a new stake in shares of Allegiant Travel in the second quarter worth about $44,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Allegiant Travel by 32.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 819 shares of the transportation company’s stock worth $56,000 after purchasing an additional 200 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new stake in shares of Allegiant Travel in the third quarter worth about $73,000. Finally, State of Wyoming increased its holdings in shares of Allegiant Travel by 38.8% in the second quarter. State of Wyoming now owns 691 shares of the transportation company’s stock worth $87,000 after purchasing an additional 193 shares during the last quarter. 85.81% of the stock is owned by institutional investors.

Allegiant Travel Stock Up 0.9 %

Shares of NASDAQ:ALGT opened at $62.31 on Friday. Allegiant Travel has a 1 year low of $54.87 and a 1 year high of $130.93. The business has a 50 day simple moving average of $71.21 and a two-hundred day simple moving average of $73.10. The firm has a market capitalization of $1.14 billion, a PE ratio of 9.86, a price-to-earnings-growth ratio of 1.05 and a beta of 1.58. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.83 and a quick ratio of 0.80.

Allegiant Travel (NASDAQ:ALGT) last announced its earnings results on Monday, February 5th. The transportation company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.52. Allegiant Travel had a return on equity of 3.80% and a net margin of 4.54%. The business had revenue of $611.00 million during the quarter, compared to analyst estimates of $596.42 million. During the same quarter in the previous year, the business earned $3.17 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities analysts predict that Allegiant Travel will post 4.83 EPS for the current year.

Allegiant Travel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Thursday, February 15th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $2.40 annualized dividend and a dividend yield of 3.85%. Allegiant Travel’s dividend payout ratio (DPR) is presently 37.97%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ALGT. UBS Group began coverage on Allegiant Travel in a report on Wednesday, March 20th. They issued a “sell” rating and a $58.00 target price on the stock. Susquehanna reduced their target price on Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, April 9th. Raymond James reduced their target price on Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating on the stock in a report on Tuesday, February 6th. TD Cowen boosted their price objective on Allegiant Travel from $82.00 to $85.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 6th. Finally, Barclays reduced their price objective on Allegiant Travel from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Friday, April 5th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $89.75.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $79.10, for a total transaction of $158,200.00. Following the completion of the transaction, the director now owns 8,490 shares in the company, valued at $671,559. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 17.50% of the company’s stock.

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.