FMR LLC decreased its holdings in shares of Allegiant Travel (NASDAQ:ALGT) by 13.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,019,614 shares of the transportation company’s stock after selling 324,752 shares during the quarter. FMR LLC owned 12.50% of Allegiant Travel worth $280,626,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in ALGT. Oppenheimer Asset Management Inc. lifted its holdings in shares of Allegiant Travel by 44.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,861 shares of the transportation company’s stock valued at $259,000 after purchasing an additional 569 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Allegiant Travel during the 2nd quarter worth about $370,000. Virginia Retirement Systems ET AL acquired a new stake in Allegiant Travel during the 2nd quarter worth about $389,000. Stevens Capital Management LP acquired a new stake in Allegiant Travel during the 2nd quarter worth about $419,000. Finally, SG Americas Securities LLC grew its position in Allegiant Travel by 300.7% during the 2nd quarter. SG Americas Securities LLC now owns 3,558 shares of the transportation company’s stock worth $494,000 after purchasing an additional 2,670 shares during the period. 79.91% of the stock is currently owned by institutional investors.
ALGT has been the topic of several analyst reports. Wolfe Research downgraded Allegiant Travel from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 14th. ValuEngine downgraded Allegiant Travel from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 27th. Imperial Capital reaffirmed an “in-line” rating and set a $130.00 price target (up from $121.00) on shares of Allegiant Travel in a research report on Tuesday, September 18th. Buckingham Research dropped their target price on Allegiant Travel from $165.00 to $155.00 and set a “buy” rating on the stock in a research report on Wednesday, October 10th. Finally, Cowen dropped their target price on Allegiant Travel from $142.00 to $132.00 and set a “market perform” rating on the stock in a research report on Thursday, October 25th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $153.09.
ALGT traded up $4.22 during trading on Thursday, reaching $121.03. The company’s stock had a trading volume of 58,375 shares, compared to its average volume of 202,440. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 0.55 and a beta of 0.30. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.53 and a quick ratio of 0.50. Allegiant Travel has a 1 year low of $105.21 and a 1 year high of $181.45.
Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Wednesday, October 24th. The transportation company reported $0.94 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.02). Allegiant Travel had a net margin of 12.42% and a return on equity of 26.83%. The firm had revenue of $393.11 million for the quarter, compared to analysts’ expectations of $390.30 million. During the same period in the previous year, the firm posted $1.39 EPS. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, equities analysts anticipate that Allegiant Travel will post 9.47 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 5th. Investors of record on Friday, November 23rd will be issued a $0.70 dividend. The ex-dividend date is Wednesday, November 21st. This represents a $2.80 annualized dividend and a yield of 2.31%. Allegiant Travel’s dividend payout ratio (DPR) is presently 29.32%.
In related news, President John Redmond bought 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 31st. The stock was purchased at an average price of $115.42 per share, for a total transaction of $1,385,040.00. Following the acquisition, the president now owns 102,125 shares of the company’s stock, valued at $11,787,267.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 20.80% of the stock is currently owned by company insiders.
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Allegiant Travel Company Profile
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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