Profit Investment Management LLC boosted its position in shares of Allegiant Travel Company (NASDAQ:ALGT) by 10.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,496 shares of the transportation company’s stock after buying an additional 702 shares during the period. Profit Investment Management LLC’s holdings in Allegiant Travel Company were worth $1,201,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors purchased a new position in Allegiant Travel Company during the third quarter worth approximately $40,082,000. Ardevora Asset Management LLP purchased a new position in Allegiant Travel Company during the fourth quarter worth approximately $27,672,000. Norges Bank purchased a new position in Allegiant Travel Company during the fourth quarter worth approximately $11,706,000. BlackRock Fund Advisors raised its position in Allegiant Travel Company by 7.9% in the third quarter. BlackRock Fund Advisors now owns 894,193 shares of the transportation company’s stock worth $118,096,000 after buying an additional 65,144 shares during the period. Finally, Old Mutual Global Investors UK Ltd. purchased a new position in Allegiant Travel Company during the third quarter worth approximately $6,036,000. Hedge funds and other institutional investors own 79.27% of the company’s stock.
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Allegiant Travel Company (NASDAQ:ALGT) traded down 8.67% during mid-day trading on Wednesday, reaching $149.65. 663,958 shares of the company’s stock traded hands. Allegiant Travel Company has a 12-month low of $121.70 and a 12-month high of $182.25. The stock has a market capitalization of $2.45 billion, a PE ratio of 11.33 and a beta of -0.20. The stock has a 50-day moving average price of $158.98 and a 200-day moving average price of $162.64.
Allegiant Travel Company (NASDAQ:ALGT) last released its earnings results on Tuesday, April 25th. The transportation company reported $2.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.58 by $0.08. Allegiant Travel Company had a return on equity of 54.38% and a net margin of 16.11%. The firm earned $375.80 million during the quarter, compared to the consensus estimate of $374.99 million. During the same quarter last year, the business posted $4.29 EPS. Allegiant Travel Company’s revenue was up 7.8% compared to the same quarter last year. Equities research analysts expect that Allegiant Travel Company will post $10.43 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 2nd. Investors of record on Friday, May 19th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, May 17th. This represents a $2.80 dividend on an annualized basis and a yield of 1.87%. Allegiant Travel Company’s payout ratio is 21.21%.
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ALGT has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Allegiant Travel Company from a “sell” rating to a “hold” rating in a research report on Tuesday, December 27th. Cowen and Company boosted their price target on shares of Allegiant Travel Company from $160.00 to $162.00 and gave the company a “market perform” rating in a research report on Wednesday, February 1st. Stifel Nicolaus lowered shares of Allegiant Travel Company from a “buy” rating to a “hold” rating and boosted their price target for the company from $155.00 to $173.00 in a research report on Wednesday, January 11th. Deutsche Bank AG lowered shares of Allegiant Travel Company from a “buy” rating to a “hold” rating and reduced their price target for the company from $190.00 to $153.00 in a research report on Wednesday. Finally, Imperial Capital reduced their price target on shares of Allegiant Travel Company from $182.00 to $170.00 and set an “in-line” rating for the company in a research report on Wednesday, April 12th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $166.90.
In related news, EVP Jude Bricker sold 4,421 shares of Allegiant Travel Company stock in a transaction dated 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 owns 21,569 shares in the company, valued at approximately $3,422,353.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gary Ellmer sold 580 shares of Allegiant Travel Company stock in a transaction dated Friday, March 24th. The shares were sold at an average price of $162.00, for a total transaction of $93,960.00. Following the sale, the director now owns 2,255 shares of the company’s stock, valued at approximately $365,310. The disclosure for this sale can be found here. Company insiders own 21.00% of the company’s stock.
Allegiant Travel Company Company Profile
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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