Bank of New York Mellon Corp lowered its holdings in shares of Allegiant Air (NASDAQ:ALGT) by 2.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 208,741 shares of the transportation company’s stock after selling 5,417 shares during the period. Bank of New York Mellon Corp owned about 1.30% of Allegiant Air worth $32,303,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Allegiant Air by 47.0% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,258 shares of the transportation company’s stock valued at $166,000 after acquiring an additional 402 shares during the last quarter. Shelton Capital Management acquired a new stake in shares of Allegiant Air during the fourth quarter worth $202,000. Teacher Retirement System of Texas acquired a new stake in shares of Allegiant Air during the fourth quarter worth $216,000. McKinley Carter Wealth Services Inc. acquired a new stake in shares of Allegiant Air during the fourth quarter worth $233,000. Finally, SeaCrest Wealth Management LLC acquired a new stake in shares of Allegiant Air during the fourth quarter worth $383,000. 90.41% of the stock is owned by hedge funds and other institutional investors.
In other Allegiant Air news, CEO Maurice J. Gallagher, Jr. sold 71,678 shares of the firm’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $165.54, for a total value of $11,865,576.12. Following the transaction, the chief executive officer now directly owns 3,071,196 shares of the company’s stock, valued at $508,405,785.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Gregory Clark Anderson sold 1,650 shares of the firm’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $178.25, for a total transaction of $294,112.50. Following the completion of the transaction, the senior vice president now directly owns 15,935 shares in the company, valued at $2,840,413.75. The disclosure for this sale can be found here. Insiders sold 268,275 shares of company stock valued at $44,704,476 over the last 90 days. Corporate insiders own 21.00% of the company’s stock.
Several research firms have recently weighed in on ALGT. Morgan Stanley decreased their price objective on shares of Allegiant Air from $172.00 to $171.00 and set an “equal weight” rating for the company in a research report on Friday. Wolfe Research upgraded shares of Allegiant Air from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 1st. Imperial Capital reiterated an “in-line” rating and set a $165.00 price objective (up from $150.00) on shares of Allegiant Air in a research report on Thursday, February 1st. Zacks Investment Research upgraded shares of Allegiant Air from a “hold” rating to a “buy” rating and set a $178.00 price objective for the company in a research report on Tuesday, February 6th. Finally, BidaskClub cut shares of Allegiant Air from a “buy” rating to a “hold” rating in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $164.55.
NASDAQ:ALGT traded down $3.75 during trading hours on Friday, reaching $172.50. The company had a trading volume of 108,322 shares, compared to its average volume of 131,445. The company has a current ratio of 0.98, a quick ratio of 0.95 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $2,831.75, a price-to-earnings ratio of 18.06, a PEG ratio of 0.55 and a beta of 0.07. Allegiant Air has a twelve month low of $111.54 and a twelve month high of $181.45.
Allegiant Air (NASDAQ:ALGT) last posted its quarterly earnings results on Wednesday, January 31st. The transportation company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.93. The business had revenue of $378.56 million during the quarter, compared to analysts’ expectations of $377.25 million. Allegiant Air had a net margin of 12.96% and a return on equity of 31.47%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the company posted $2.48 earnings per share. equities analysts predict that Allegiant Air will post 10.94 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Friday, March 2nd were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Thursday, March 1st. Allegiant Air’s payout ratio is 29.32%.
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About Allegiant Air
Allegiant Travel Company, a leisure travel company, focuses on the provision of 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.
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