Allegiant Travel (NASDAQ:ALGT) Releases Earnings Results

Allegiant Travel (NASDAQ:ALGT) issued its quarterly earnings data on Wednesday. The transportation company reported ($2.02) EPS for the quarter, missing the consensus estimate of ($1.85) by ($0.17), reports. The firm had revenue of $562.20 million for the quarter, compared to the consensus estimate of $561.24 million. Allegiant Travel had a negative net margin of 1.04% and a positive return on equity of 0.63%. Allegiant Travel updated its Q4 guidance to $0.00-1.00 EPS and its Q4 2024 guidance to 0.000-1.000 EPS.

Allegiant Travel Stock Performance

Allegiant Travel stock opened at $63.01 on Friday. The stock’s 50 day moving average is $51.72 and its 200 day moving average is $50.96. The company has a market capitalization of $1.15 billion, a P/E ratio of -42.01, a PEG ratio of 4.11 and a beta of 1.65. Allegiant Travel has a twelve month low of $36.08 and a twelve month high of $85.91. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 1.30.

Wall Street Analysts Forecast Growth

ALGT has been the topic of several research analyst reports. Susquehanna boosted their target price on Allegiant Travel from $40.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Evercore ISI upped their price objective on shares of Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. TD Cowen boosted their price target on shares of Allegiant Travel from $42.00 to $50.00 and gave the company a “hold” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft lowered shares of Allegiant Travel from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $75.00 to $53.00 in a report on Monday, July 8th. Finally, Morgan Stanley cut their price objective on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a research report on Monday, July 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $64.13.

Insiders Place Their Bets

In other news, COO Keny Frank Wilper sold 635 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total transaction of $39,808.15. Following the completion of the transaction, the chief operating officer now directly owns 16,353 shares in the company, valued at $1,025,169.57. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Keny Frank Wilper sold 635 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total transaction of $39,808.15. Following the sale, the chief operating officer now owns 16,353 shares in the company, valued at $1,025,169.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gary Ellmer sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the transaction, the director now owns 7,490 shares of the company’s stock, valued at approximately $337,050. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,334 shares of company stock valued at $117,158. 15.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Allegiant Travel

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Allegiant Travel by 2.3% in the first quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock worth $131,591,000 after acquiring an additional 38,612 shares during the period. Donald Smith & CO. Inc. boosted its holdings in Allegiant Travel by 20.2% in the third quarter. Donald Smith & CO. Inc. now owns 993,474 shares of the transportation company’s stock worth $54,701,000 after purchasing an additional 167,148 shares during the last quarter. Diamond Hill Capital Management Inc. grew its position in Allegiant Travel by 1.9% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 945,839 shares of the transportation company’s stock worth $47,509,000 after purchasing an additional 17,792 shares during the period. U S Global Investors Inc. raised its stake in Allegiant Travel by 51.9% during the 3rd quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock valued at $40,823,000 after buying an additional 253,198 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Allegiant Travel by 15.1% during the 2nd quarter. American Century Companies Inc. now owns 428,787 shares of the transportation company’s stock valued at $21,538,000 after buying an additional 56,208 shares during the period. Hedge funds and other institutional investors own 85.81% 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.