RK Asset Management LLC Boosts Stake in Allegiant Travel Co. (ALGT)
RK Asset Management LLC increased its stake in Allegiant Travel Co. (NASDAQ:ALGT) by 4.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,990 shares of the company’s stock after buying an additional 2,258 shares during the period. Allegiant Travel accounts for about 6.1% of RK Asset Management LLC’s investment portfolio, making the stock its 8th largest position. RK Asset Management LLC owned approximately 0.31% of Allegiant Travel worth $6,734,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in ALGT. BlackRock Inc. increased its stake in shares of Allegiant Travel by 157.9% in the first quarter. BlackRock Inc. now owns 820 shares of the company’s stock worth $146,000 after buying an additional 502 shares in the last quarter. State Street Corp increased its stake in shares of Allegiant Travel by 2.7% in the first quarter. State Street Corp now owns 305,666 shares of the company’s stock worth $54,424,000 after buying an additional 8,024 shares in the last quarter. UBS Group AG increased its stake in shares of Allegiant Travel by 314.1% in the first quarter. UBS Group AG now owns 9,040 shares of the company’s stock worth $1,610,000 after buying an additional 6,857 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Allegiant Travel by 5.5% in the first quarter. Geode Capital Management LLC now owns 93,650 shares of the company’s stock worth $16,674,000 after buying an additional 4,871 shares in the last quarter. Finally, BlueMountain Capital Management LLC increased its stake in shares of Allegiant Travel by 42.3% in the first quarter. BlueMountain Capital Management LLC now owns 1,996 shares of the company’s stock worth $355,000 after buying an additional 593 shares in the last quarter. 80.38% of the stock is owned by institutional investors.
Allegiant Travel Co. (NASDAQ:ALGT) traded down 0.46% on Monday, hitting $163.75. The company had a trading volume of 113,939 shares. The stock has a market cap of $2.68 billion, a P/E ratio of 11.60 and a beta of -0.27. The firm’s 50 day moving average price is $147.82 and its 200 day moving average price is $141.60. Allegiant Travel Co. has a 12-month low of $121.70 and a 12-month high of $204.46.
Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $2.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.66 by $0.09. Allegiant Travel had a net margin of 17.57% and a return on equity of 60.20%. The business had revenue of $33.50 million for the quarter, compared to the consensus estimate of $84.35 million. During the same period in the prior year, the business posted $2.62 earnings per share. Allegiant Travel’s revenue for the quarter was down 88.8% compared to the same quarter last year. Equities analysts predict that Allegiant Travel Co. will post $13.06 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Wednesday, November 23rd will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Monday, November 21st. Allegiant Travel’s dividend payout ratio (DPR) is presently 19.86%.
ALGT has been the subject of a number of research reports. Credit Suisse Group AG set a $133.00 price target on Allegiant Travel and gave the company a “hold” rating in a research report on Tuesday, September 13th. Imperial Capital initiated coverage on Allegiant Travel in a research report on Friday, October 7th. They set an “outperform” rating and a $164.00 price target for the company. Zacks Investment Research downgraded Allegiant Travel from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 24th. Raymond James Financial Inc. downgraded Allegiant Travel from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 27th. Finally, Buckingham Research raised Allegiant Travel from a “neutral” rating to a “buy” rating and set a $168.00 price target for the company in a research report on Friday, September 23rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $173.83.
In other news, CFO Scott Sheldon sold 2,596 shares of the company’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $153.70, for a total value of $399,005.20. Following the transaction, the chief financial officer now directly owns 20,964 shares of the company’s stock, valued at $3,222,166.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 21.00% of the stock is currently owned by insiders.
Allegiant Travel 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. 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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