Allegiant Travel Co. (ALGT) to Issue Quarterly Dividend of $0.70 on December 6th
Allegiant Travel Co. (NASDAQ:ALGT) announced a quarterly dividend on Monday, November 14th. Stockholders of record on Wednesday, November 23rd will be given a dividend of 0.70 per share on Tuesday, December 6th. This represents a $2.80 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Monday, November 21st.
Shares of Allegiant Travel (NASDAQ:ALGT) opened at 158.45 on Wednesday. The stock has a 50 day moving average price of $145.41 and a 200 day moving average price of $141.30. Allegiant Travel has a 12-month low of $121.70 and a 12-month high of $204.46. The firm has a market capitalization of $2.60 billion, a PE ratio of 11.22 and a beta of -0.27.
Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $2.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.66 by $0.09. The firm earned $33.50 million during the quarter, compared to analyst estimates of $84.35 million. Allegiant Travel had a return on equity of 60.20% and a net margin of 17.57%. Allegiant Travel’s quarterly revenue was down 88.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.62 earnings per share. Analysts predict that Allegiant Travel will post $13.06 EPS for the current fiscal year.
In other Allegiant Travel news, CFO Scott Sheldon sold 2,596 shares of the company’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $153.70, for a total value of $399,005.20. Following the completion of the sale, the chief financial officer now directly owns 20,964 shares in the company, valued at $3,222,166.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 21.00% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in ALGT. BlackRock Investment Management LLC increased its stake in shares of Allegiant Travel by 5.9% in the second quarter. BlackRock Investment Management LLC now owns 54,764 shares of the company’s stock worth $8,297,000 after buying an additional 3,039 shares during the period. BlackRock Inc. increased its stake in shares of Allegiant Travel by 61.5% in the second quarter. BlackRock Inc. now owns 1,324 shares of the company’s stock worth $200,000 after buying an additional 504 shares during the period. BlackRock Fund Advisors increased its stake in shares of Allegiant Travel by 0.9% in the second quarter. BlackRock Fund Advisors now owns 829,049 shares of the company’s stock worth $125,601,000 after buying an additional 7,159 shares during the period. BlackRock Group LTD increased its stake in shares of Allegiant Travel by 9.9% in the second quarter. BlackRock Group LTD now owns 10,600 shares of the company’s stock worth $1,607,000 after buying an additional 953 shares during the period. Finally, Trexquant Investment LP increased its stake in shares of Allegiant Travel by 197.0% in the second quarter. Trexquant Investment LP now owns 3,478 shares of the company’s stock worth $527,000 after buying an additional 2,307 shares during the period. Hedge funds and other institutional investors own 80.25% of the company’s stock.
ALGT has been the subject of several recent research reports. Stifel Nicolaus lowered their target price on Allegiant Travel from $200.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday, August 3rd. Buckingham Research raised Allegiant Travel from a “neutral” rating to a “buy” rating and set a $168.00 target price for the company in a report on Friday, September 23rd. Credit Suisse Group AG set a $133.00 target price on Allegiant Travel and gave the company a “hold” rating in a report on Tuesday, September 13th. Zacks Investment Research raised Allegiant Travel from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 2nd. Finally, Cowen and Company lowered their target price on Allegiant Travel from $165.00 to $147.00 and set a “market perform” rating for the company in a report on Monday, August 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Allegiant Travel presently has a consensus rating of “Hold” and a consensus target price of $172.82.
About Allegiant Travel
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. Its products and services include scheduled service air transportation, air-related ancillary products and services, third-party ancillary products and services, fixed fee contract air transportation and other revenue.
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