Comerica Bank cut its holdings in shares of Allegiant Travel (NASDAQ:ALGT) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,879 shares of the transportation company’s stock after selling 366 shares during the quarter. Comerica Bank owned about 0.08% of Allegiant Travel worth $2,079,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. TimesSquare Capital Management LLC lifted its position in Allegiant Travel by 3.3% during the third quarter. TimesSquare Capital Management LLC now owns 698,787 shares of the transportation company’s stock worth $92,030,000 after buying an additional 22,495 shares during the period. Dimensional Fund Advisors LP lifted its position in Allegiant Travel by 2.9% during the third quarter. Dimensional Fund Advisors LP now owns 413,656 shares of the transportation company’s stock worth $54,480,000 after buying an additional 11,482 shares during the period. State Street Corp lifted its position in Allegiant Travel by 2.4% during the second quarter. State Street Corp now owns 354,060 shares of the transportation company’s stock worth $48,013,000 after buying an additional 8,300 shares during the period. Schroder Investment Management Group lifted its position in Allegiant Travel by 7.7% during the third quarter. Schroder Investment Management Group now owns 269,275 shares of the transportation company’s stock worth $35,989,000 after buying an additional 19,303 shares during the period. Finally, Royce & Associates LP lifted its position in Allegiant Travel by 1,515.5% during the third quarter. Royce & Associates LP now owns 197,103 shares of the transportation company’s stock worth $25,958,000 after buying an additional 184,902 shares during the period. Hedge funds and other institutional investors own 89.58% of the company’s stock.
Shares of Allegiant Travel (ALGT) opened at $169.15 on Friday. The company has a market capitalization of $2,720.00, a PE ratio of 17.99, a price-to-earnings-growth ratio of 0.53 and a beta of 0.17. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.01 and a current ratio of 1.05. Allegiant Travel has a 12 month low of $111.54 and a 12 month high of $178.20.
Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Wednesday, January 31st. The transportation company reported $2.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.93. The company had revenue of $378.56 million during the quarter, compared to analyst estimates of $377.25 million. Allegiant Travel had a return on equity of 32.60% and a net margin of 12.96%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.48 earnings per share. sell-side analysts anticipate that Allegiant Travel will post 10.96 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, March 2nd will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $2.80 annualized dividend and a yield of 1.66%. Allegiant Travel’s dividend payout ratio is presently 29.79%.
In other news, Director Gary Ellmer sold 1,000 shares of the stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $148.85, for a total value of $148,850.00. Following the completion of the sale, the director now owns 2,120 shares in the company, valued at $315,562. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Maurice J. Gallagher, Jr. sold 17,818 shares of the stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $155.74, for a total value of $2,774,975.32. The disclosure for this sale can be found here. Insiders have sold 288,696 shares of company stock valued at $47,742,513 over the last 90 days. 21.00% of the stock is currently owned by insiders.
Several equities analysts recently weighed in on ALGT shares. Cowen reiterated a “market perform” rating and set a $158.00 target price (up from $145.00) on shares of Allegiant Travel in a research report on Friday, December 1st. Zacks Investment Research upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Monday, December 4th. Buckingham Research downgraded Allegiant Travel from a “buy” rating to a “neutral” rating in a research report on Monday, December 4th. Raymond James Financial reiterated a “hold” rating on shares of Allegiant Travel in a research report on Monday, December 4th. Finally, Imperial Capital increased their target price on Allegiant Travel from $132.00 to $150.00 and gave the stock an “in-line” rating in a research report on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Allegiant Travel has a consensus rating of “Hold” and a consensus price target of $164.64.
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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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