Diamond Hill Capital Management Inc. Acquires 17,792 Shares of Allegiant Travel (NASDAQ:ALGT)

Diamond Hill Capital Management Inc. grew its holdings in Allegiant Travel (NASDAQ:ALGT) by 1.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 945,839 shares of the transportation company’s stock after acquiring an additional 17,792 shares during the quarter. Diamond Hill Capital Management Inc. owned 5.19% of Allegiant Travel worth $47,509,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ALGT. Vanguard Group Inc. increased its stake in Allegiant Travel by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock worth $131,591,000 after purchasing an additional 38,612 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Allegiant Travel by 14.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 798,573 shares of the transportation company’s stock worth $65,972,000 after acquiring an additional 98,662 shares in the last quarter. Franklin Resources Inc. increased 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 acquiring an additional 82,813 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Allegiant Travel by 15.1% during the second quarter. American Century Companies Inc. now owns 428,787 shares of the transportation company’s stock worth $21,538,000 after acquiring an additional 56,208 shares during the period. Finally, Donald Smith & CO. Inc. lifted its position in Allegiant Travel by 106.7% in the 1st quarter. Donald Smith & CO. Inc. now owns 309,781 shares of the transportation company’s stock valued at $23,299,000 after acquiring an additional 159,892 shares in the last quarter. 85.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on ALGT. Morgan Stanley lowered their target price on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. TD Cowen dropped their target price on Allegiant Travel from $39.00 to $33.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Susquehanna cut their target price on Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. Barclays decreased their price target on shares of Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Allegiant Travel from a “buy” rating to a “hold” rating and cut their price objective for the stock from $75.00 to $53.00 in a research report on Monday, July 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $59.50.

Allegiant Travel Price Performance

NASDAQ:ALGT opened at $41.55 on Friday. The stock has a market capitalization of $760.37 million, a PE ratio of 13.15, a P/E/G ratio of 5.50 and a beta of 1.64. Allegiant Travel has a 1-year low of $36.08 and a 1-year high of $88.09. The firm has a fifty day simple moving average of $44.35 and a 200 day simple moving average of $54.15. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.30.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Wednesday, July 31st. The transportation company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.93. Allegiant Travel had a negative net margin of 0.57% and a positive return on equity of 3.48%. The company had revenue of $666.28 million during the quarter, compared to the consensus estimate of $657.74 million. During the same quarter last year, the firm posted $4.35 EPS. The company’s quarterly revenue was down 2.6% on a year-over-year basis. On average, research analysts expect that Allegiant Travel will post 0.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Gary Ellmer sold 1,000 shares of Allegiant Travel 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 directly owns 7,490 shares in the company, valued at approximately $337,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 17.50% of the company’s stock.

Allegiant Travel 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.