American Century Companies Inc. Has $16.98 Million Stock Holdings in Allegiant Travel (NASDAQ:ALGT)

Posted by Defense World Staff on Sep 1st, 2023

American Century Companies Inc. grew its stake in shares of Allegiant Travel (NASDAQ:ALGT – Free Report) by 19.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 190,167 shares of the transportation company’s stock after purchasing an additional 30,787 shares during the period. American Century Companies Inc. owned about 1.05% of Allegiant Travel worth $16,984,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Envestnet Asset Management Inc. boosted its holdings in shares of Allegiant Travel by 29.1% in the first quarter. Envestnet Asset Management Inc. now owns 6,603 shares of the transportation company’s stock worth $607,000 after buying an additional 1,487 shares during the period. Rhumbline Advisers grew its position in Allegiant Travel by 3.6% during the 1st quarter. Rhumbline Advisers now owns 52,958 shares of the transportation company’s stock worth $4,871,000 after purchasing an additional 1,863 shares in the last quarter. Diamond Hill Capital Management Inc. raised its stake in Allegiant Travel by 7.6% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 789,856 shares of the transportation company’s stock valued at $72,651,000 after purchasing an additional 55,968 shares during the period. Capula Management Ltd acquired a new stake in Allegiant Travel during the 1st quarter valued at $559,000. Finally, Great Lakes Advisors LLC purchased a new stake in shares of Allegiant Travel in the first quarter valued at $8,420,000. Institutional investors and hedge funds own 81.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ALGT shares. Evercore ISI dropped their price target on Allegiant Travel from $125.00 to $110.00 and set an “in-line” rating on the stock in a research report on Monday. StockNews.com assumed coverage on Allegiant Travel in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Barclays boosted their target price on Allegiant Travel from $105.00 to $122.00 in a research note on Thursday, July 13th. Deutsche Bank Aktiengesellschaft raised shares of Allegiant Travel from a “hold” rating to a “buy” rating and raised their price objective for the company from $110.00 to $145.00 in a research report on Thursday, June 15th. Finally, Raymond James upped their price objective on shares of Allegiant Travel from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $110.55.

Check Out Our Latest Report on Allegiant Travel

Insider Buying and Selling at Allegiant Travel

In related news, Director Gary Ellmer sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $104.76, for a total transaction of $209,520.00. Following the completion of the transaction, the director now owns 10,490 shares in the company, valued at approximately $1,098,932.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 17.50% of the company’s stock.

Allegiant Travel Trading Up 0.3 %

Shares of ALGT opened at $88.84 on Friday. Allegiant Travel has a 12-month low of $62.94 and a 12-month high of $130.93. The company has a quick ratio of 1.10, a current ratio of 1.13 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 10.86 and a beta of 1.69. The stock’s 50-day moving average price is $114.81 and its 200 day moving average price is $104.69.

Allegiant Travel (NASDAQ:ALGT – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The transportation company reported $4.35 EPS for the quarter, beating analysts’ consensus estimates of $3.63 by $0.72. Allegiant Travel had a return on equity of 7.46% and a net margin of 5.87%. The business had revenue of $683.81 million during the quarter, compared to analyst estimates of $662.10 million. During the same period in the prior year, the company posted $0.62 earnings per share. Allegiant Travel’s revenue was up 8.6% on a year-over-year basis. As a group, research analysts predict that Allegiant Travel will post 10.5 earnings per share for the current year.

Allegiant Travel Announces Dividend

The business also recently disclosed a — dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, August 14th. Allegiant Travel’s payout ratio is 29.34%.

About Allegiant Travel

(Free Report)

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, 2023, it operated a fleet of 122 Airbus A320 series aircraft.