Hsbc Holdings PLC Trims Stake in Allegiant Travel (NASDAQ:ALGT)

Hsbc Holdings PLC lessened its stake in shares of Allegiant Travel (NASDAQ:ALGT) by 10.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,121 shares of the transportation company’s stock after selling 465 shares during the quarter. Hsbc Holdings PLC’s holdings in Allegiant Travel were worth $208,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Donald Smith & CO. Inc. boosted its stake in shares of Allegiant Travel by 166.7% during the second quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company’s stock valued at $41,506,000 after acquiring an additional 516,545 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Allegiant Travel during the 2nd quarter worth about $4,263,000. Interval Partners LP acquired a new stake in shares of Allegiant Travel during the 1st quarter worth about $5,641,000. American Century Companies Inc. grew 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 buying an additional 56,208 shares in the last quarter. Finally, Vanguard Group Inc. raised its position 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 valued at $131,591,000 after buying an additional 38,612 shares during the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Insider Buying and Selling at Allegiant Travel

In other news, Director Gary Ellmer sold 1,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the sale, the director now owns 7,490 shares of the company’s stock, valued at $337,050. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 1,699 shares of company stock valued at $77,350 over the last three months. 17.50% of the stock is owned by company insiders.

Allegiant Travel Stock Up 5.1 %

ALGT opened at $57.81 on Friday. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $85.91. The firm has a 50 day moving average price of $44.37 and a 200 day moving average price of $51.97. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.71 and a current ratio of 0.74. The company has a market cap of $1.05 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 6.10 and a beta of 1.65.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Wednesday, July 31st. The transportation company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the previous year, the firm earned $4.35 earnings per share. Allegiant Travel’s revenue for the quarter was down 2.6% on a year-over-year basis. Sell-side analysts expect that Allegiant Travel will post 0.97 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ALGT shares. Morgan Stanley decreased their target price on shares of 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. TD Cowen raised their price objective on Allegiant Travel from $33.00 to $42.00 and gave the stock a “hold” rating in a report on Thursday. Susquehanna reduced their target price on Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Barclays lowered their price target on Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Finally, Evercore ISI increased 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. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Allegiant Travel currently has a consensus rating of “Hold” and a consensus price target of $61.25.

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.