Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Allegiant Travel (NASDAQ:ALGT) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 1,993 shares of the transportation company’s stock, valued at approximately $258,000.
Other hedge funds have also recently bought and sold shares of the company. State of Alaska Department of Revenue raised its stake in Allegiant Travel by 3.1% during the 4th quarter. State of Alaska Department of Revenue now owns 4,275 shares of the transportation company’s stock worth $428,000 after buying an additional 129 shares during the period. Royal London Asset Management Ltd. raised its stake in Allegiant Travel by 314.7% during the 4th quarter. Royal London Asset Management Ltd. now owns 44,965 shares of the transportation company’s stock worth $4,506,000 after buying an additional 34,122 shares during the period. Bank of New York Mellon Corp raised its stake in Allegiant Travel by 3.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 225,063 shares of the transportation company’s stock worth $28,539,000 after buying an additional 7,954 shares during the period. Rafferty Asset Management LLC acquired a new position in Allegiant Travel during the 4th quarter worth approximately $425,000. Finally, Legal & General Group Plc raised its stake in Allegiant Travel by 10.3% during the 3rd quarter. Legal & General Group Plc now owns 28,103 shares of the transportation company’s stock worth $3,579,000 after buying an additional 2,626 shares during the period. 80.87% of the stock is currently owned by institutional investors and hedge funds.
ALGT has been the topic of a number of research reports. ValuEngine downgraded Allegiant Travel from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 12th. Imperial Capital raised Allegiant Travel from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $134.00 to $168.00 in a research note on Friday, February 1st. Deutsche Bank set a $160.00 price objective on Allegiant Travel and gave the stock a “buy” rating in a research note on Friday, March 1st. Zacks Investment Research downgraded Allegiant Travel from a “buy” rating to a “hold” rating in a research note on Tuesday, April 2nd. Finally, BidaskClub raised Allegiant Travel from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $153.08.
Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings data on Wednesday, April 24th. The transportation company reported $3.98 EPS for the quarter, topping the consensus estimate of $3.88 by $0.10. The firm had revenue of $451.60 million during the quarter, compared to the consensus estimate of $452.24 million. Allegiant Travel had a return on equity of 25.13% and a net margin of 9.67%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business posted $3.42 earnings per share. On average, equities research analysts predict that Allegiant Travel will post 13.52 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Thursday, June 13th. Allegiant Travel’s dividend payout ratio is presently 28.00%.
In other news, Director Gary Ellmer sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $124.50, for a total value of $124,500.00. Following the completion of the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at $249,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Maurice J. Gallagher, Jr. sold 47,920 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $147.77, for a total value of $7,081,138.40. Following the completion of the transaction, the chief executive officer now directly owns 2,929,920 shares of the company’s stock, valued at $432,954,278.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,921 shares of company stock valued at $16,310,422. 20.80% of the stock is currently owned by corporate insiders.
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About Allegiant Travel
Allegiant Travel Company, a leisure travel company, provides 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. As of February 15, 2019, it operated a fleet of 79 Airbus A320 series aircraft.
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