1st Global Advisors Inc. boosted its stake in shares of Allegiant Travel Company (NASDAQ:ALGT) by 7.2% during the first quarter, Holdings Channel reports. The fund owned 2,733 shares of the transportation company’s stock after buying an additional 183 shares during the period. 1st Global Advisors Inc.’s holdings in Allegiant Travel Company were worth $438,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the stock. Bessemer Group Inc. raised its stake in shares of Allegiant Travel Company by 43.6% in the fourth quarter. Bessemer Group Inc. now owns 13,500 shares of the transportation company’s stock valued at $2,246,000 after buying an additional 4,100 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Allegiant Travel Company during the fourth quarter valued at approximately $298,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Allegiant Travel Company during the third quarter valued at approximately $120,000. Highbridge Capital Management LLC purchased a new stake in shares of Allegiant Travel Company during the third quarter valued at approximately $1,925,000. Finally, Capital Research Global Investors purchased a new stake in shares of Allegiant Travel Company during the third quarter valued at approximately $40,082,000. Institutional investors own 79.27% of the company’s stock.
Allegiant Travel Company (NASDAQ:ALGT) traded up 1.49% on Friday, reaching $142.65. 80,120 shares of the company’s stock traded hands. Allegiant Travel Company has a 52-week low of $121.70 and a 52-week high of $182.25. The firm’s 50 day moving average price is $152.16 and its 200 day moving average price is $161.81. The firm has a market capitalization of $2.34 billion, a PE ratio of 12.51 and a beta of -0.20.
Allegiant Travel Company (NASDAQ:ALGT) last posted its quarterly earnings results on Tuesday, April 25th. The transportation company reported $2.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.58 by $0.08. The business had revenue of $375.80 million for the quarter, compared to the consensus estimate of $374.99 million. Allegiant Travel Company had a return on equity of 54.38% and a net margin of 16.11%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $4.29 earnings per share. On average, analysts predict that Allegiant Travel Company will post $9.57 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 2nd. Investors of record on Friday, May 19th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Wednesday, May 17th. Allegiant Travel Company’s dividend payout ratio (DPR) is 21.21%.
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ALGT has been the topic of a number of research analyst reports. Cowen and Company raised their price objective on shares of Allegiant Travel Company from $160.00 to $162.00 and gave the company a “market perform” rating in a research note on Wednesday, February 1st. Bank of America Corp lowered shares of Allegiant Travel Company from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $205.00 to $175.00 in a research note on Wednesday, April 26th. Deutsche Bank AG lowered shares of Allegiant Travel Company from a “buy” rating to a “hold” rating and lowered their price objective for the company from $190.00 to $153.00 in a research note on Wednesday, April 26th. Stifel Nicolaus reiterated a “hold” rating and set a $173.00 price objective on shares of Allegiant Travel Company in a research note on Wednesday, April 19th. Finally, Imperial Capital lowered their price objective on shares of Allegiant Travel Company from $182.00 to $170.00 and set an “in-line” rating on the stock in a research note on Wednesday, April 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. Allegiant Travel Company presently has a consensus rating of “Hold” and a consensus price target of $164.70.
In related news, EVP Jude Bricker sold 4,421 shares of the business’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $158.67, for a total transaction of $701,480.07. Following the completion of the sale, the executive vice president now directly owns 21,569 shares of the company’s stock, valued at $3,422,353.23. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gary Ellmer sold 580 shares of the business’s stock in a transaction that occurred on Friday, March 24th. The stock was sold at an average price of $162.00, for a total transaction of $93,960.00. Following the sale, the director now directly owns 2,255 shares of the company’s stock, valued at $365,310. The disclosure for this sale can be found here. Insiders own 21.00% of the company’s stock.
About Allegiant Travel Company
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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