Short Interest in Allegiant Travel (NASDAQ:ALGT) Grows By 28.8%

Allegiant Travel (NASDAQ:ALGT) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 1,520,000 shares, an increase of 28.8% from the September 30th total of 1,180,000 shares. Approximately 11.7% of the shares of the stock are short sold. Based on an average trading volume of 185,400 shares, the days-to-cover ratio is presently 8.2 days.

Several equities analysts have recently weighed in on ALGT shares. Barclays raised their target price on Allegiant Travel from $145.00 to $158.00 and gave the company an “underweight” rating in a research report on Tuesday. Stifel Nicolaus set a $180.00 target price on Allegiant Travel and gave the company a “buy” rating in a research report on Friday, October 25th. ValuEngine downgraded Allegiant Travel from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 10th. BidaskClub upgraded Allegiant Travel from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Finally, Morgan Stanley raised their target price on Allegiant Travel from $164.00 to $167.00 and gave the company an “equal weight” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $168.69.

In other news, CEO Maurice J. Gallagher, Jr. sold 14,092 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $169.81, for a total value of $2,392,962.52. Following the transaction, the chief executive officer now owns 2,847,476 shares in the company, valued at $483,529,899.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Maurice J. Gallagher, Jr. sold 60,908 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $163.14, for a total value of $9,936,531.12. Following the completion of the transaction, the chief executive officer now owns 2,847,476 shares in the company, valued at approximately $464,537,234.64. The disclosure for this sale can be found here. Company insiders own 20.90% of the company’s stock.

A number of institutional investors have recently made changes to their positions in ALGT. Mason Street Advisors LLC grew its stake in Allegiant Travel by 4.4% during the 3rd quarter. Mason Street Advisors LLC now owns 4,485 shares of the transportation company’s stock worth $671,000 after purchasing an additional 190 shares in the last quarter. GW&K Investment Management LLC grew its stake in Allegiant Travel by 25.8% during the 3rd quarter. GW&K Investment Management LLC now owns 230,799 shares of the transportation company’s stock worth $34,541,000 after purchasing an additional 47,292 shares in the last quarter. SG Americas Securities LLC grew its stake in Allegiant Travel by 73.9% during the 3rd quarter. SG Americas Securities LLC now owns 23,142 shares of the transportation company’s stock worth $3,463,000 after purchasing an additional 9,831 shares in the last quarter. First Trust Advisors LP grew its stake in Allegiant Travel by 9.5% during the 3rd quarter. First Trust Advisors LP now owns 12,340 shares of the transportation company’s stock worth $1,847,000 after purchasing an additional 1,075 shares in the last quarter. Finally, Synovus Financial Corp acquired a new position in Allegiant Travel during the 3rd quarter worth $571,000. Hedge funds and other institutional investors own 79.95% of the company’s stock.

Shares of Allegiant Travel stock opened at $172.08 on Thursday. Allegiant Travel has a one year low of $98.18 and a one year high of $174.92. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 0.44 and a beta of 0.92. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.91 and a current ratio of 0.96. The business’s 50 day moving average price is $157.04 and its 200 day moving average price is $147.64.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Thursday, October 24th. The transportation company reported $2.70 EPS for the quarter, topping the Zacks’ consensus estimate of $2.21 by $0.49. Allegiant Travel had a return on equity of 28.76% and a net margin of 11.85%. The firm had revenue of $436.51 million for the quarter, compared to the consensus estimate of $429.44 million. During the same quarter last year, the business posted $0.94 earnings per share. The firm’s revenue was up 11.0% compared to the same quarter last year. On average, analysts predict that Allegiant Travel will post 14.52 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 22nd will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.80 dividend on an annualized basis and a yield of 1.63%. Allegiant Travel’s payout ratio is 28.00%.

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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