First Trust Advisors LP lowered its stake in Allegiant Travel Company (NASDAQ:ALGT) by 41.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,288 shares of the transportation company’s stock after selling 2,336 shares during the period. First Trust Advisors LP’s holdings in Allegiant Travel were worth $433,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Nationwide Fund Advisors grew its holdings in Allegiant Travel by 3.4% during the 3rd quarter. Nationwide Fund Advisors now owns 85,083 shares of the transportation company’s stock worth $11,205,000 after acquiring an additional 2,832 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in Allegiant Travel by 19,391.1% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 404,441 shares of the transportation company’s stock worth $53,265,000 after acquiring an additional 402,366 shares during the period. Midas Management Corp grew its holdings in Allegiant Travel by 13.0% during the 3rd quarter. Midas Management Corp now owns 15,482 shares of the transportation company’s stock worth $2,039,000 after acquiring an additional 1,782 shares during the period. U S Global Investors Inc. grew its holdings in Allegiant Travel by 100.0% during the 2nd quarter. U S Global Investors Inc. now owns 42,095 shares of the transportation company’s stock worth $5,484,000 after acquiring an additional 21,049 shares during the period. Finally, WINTON GROUP Ltd grew its holdings in Allegiant Travel by 126.0% during the 2nd quarter. WINTON GROUP Ltd now owns 25,265 shares of the transportation company’s stock worth $3,426,000 after acquiring an additional 14,085 shares during the period. 86.22% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on ALGT. Cowen reaffirmed a “market perform” rating and set a $158.00 target price (up previously from $145.00) on shares of Allegiant Travel in a report on Friday, December 1st. Buckingham Research lowered shares of Allegiant Travel from a “buy” rating to a “neutral” rating in a report on Monday, December 4th. Raymond James Financial reaffirmed a “hold” rating on shares of Allegiant Travel in a report on Monday, December 4th. Zacks Investment Research raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a report on Monday, December 4th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $135.00 target price on shares of Allegiant Travel in a report on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $146.45.
In other news, President John Redmond purchased 11,000 shares of Allegiant Travel stock in a transaction dated Friday, October 27th. The shares were bought at an average cost of $138.28 per share, with a total value of $1,521,080.00. Following the completion of the transaction, the president now directly owns 92,574 shares in the company, valued at approximately $12,801,132.72. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Scott Sheldon sold 5,872 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $137.63, for a total transaction of $808,163.36. Following the completion of the sale, the chief financial officer now directly owns 21,202 shares in the company, valued at $2,918,031.26. The disclosure for this sale can be found here. Company insiders own 21.00% of the company’s stock.
Allegiant Travel Company (NASDAQ ALGT) opened at $148.60 on Friday. The firm has a market cap of $2,389.19, a price-to-earnings ratio of 15.96, a PEG ratio of 6.11 and a beta of 0.16. Allegiant Travel Company has a 52-week low of $111.54 and a 52-week high of $182.25. The company has a current ratio of 1.05, a quick ratio of 1.01 and a debt-to-equity ratio of 1.78.
Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Wednesday, October 25th. The transportation company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.08. The company had revenue of $348.80 million for the quarter, compared to analysts’ expectations of $349.79 million. Allegiant Travel had a net margin of 10.52% and a return on equity of 32.19%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted $2.75 earnings per share. research analysts anticipate that Allegiant Travel Company will post 8.6 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Wednesday, November 22nd were given a dividend of $0.70 per share. The ex-dividend date was Tuesday, November 21st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.88%. Allegiant Travel’s dividend payout ratio is 30.08%.
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About Allegiant Travel
Allegiant Travel Company is a leisure travel company. The Company is focused on providing travel services and products to residents of under-served cities in the United States. It also provides air transportation under fixed fee flying arrangements. The Company’s products and services include scheduled service air transportation, air-related ancillary products and services, third-party ancillary products and services and fixed fee contract air transportation.
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