California Public Employees Retirement System cut its stake in Allegiant Travel Co. (NASDAQ:ALGT) by 6.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,300 shares of the company’s stock after selling 2,100 shares during the period. California Public Employees Retirement System owned approximately 0.18% of Allegiant Travel worth $4,002,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. purchased a new position in shares of Allegiant Travel during the second quarter valued at about $148,000. Bank of Montreal Can bought a new stake in shares of Allegiant Travel during the second quarter valued at approximately $151,000. Barclays PLC bought a new stake in shares of Allegiant Travel during the second quarter valued at approximately $155,000. 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 valued at $200,000 after buying an additional 504 shares during the period. Finally, Invictus RG increased its stake in shares of Allegiant Travel by 25.0% in the second quarter. Invictus RG now owns 1,359 shares of the company’s stock valued at $206,000 after buying an additional 272 shares during the period. Institutional investors and hedge funds own 79.04% of the company’s stock.

Institutional Ownership by Quarter for Allegiant Travel (NASDAQ:ALGT)

Allegiant Travel Co. (NASDAQ:ALGT) traded down 0.42% during trading on Tuesday, hitting $166.30. The stock had a trading volume of 141,365 shares. The company has a 50-day moving average price of $152.05 and a 200-day moving average price of $141.97. Allegiant Travel Co. has a 52-week low of $121.70 and a 52-week high of $189.50. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 11.78 and a beta of -0.27.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Allegiant Travel had a return on equity of 60.20% and a net margin of 17.57%. The firm had revenue of $33.50 million for the quarter, compared to analysts’ expectations of $84.35 million. During the same period in the previous year, the firm posted $2.62 EPS. The business’s revenue for the quarter was down 88.8% compared to the same quarter last year. Equities research analysts forecast that Allegiant Travel Co. will post $13.07 EPS for the current 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 given a $0.70 dividend. The ex-dividend date is Monday, November 21st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.68%. Allegiant Travel’s dividend payout ratio is currently 19.86%.

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Several brokerages have recently commented on ALGT. Imperial Capital increased their price objective on Allegiant Travel from $160.00 to $196.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 22nd. Wolfe Research downgraded Allegiant Travel from an “outperform” rating to a “market perform” rating in a research note on Monday, November 21st. Citigroup Inc. began coverage on Allegiant Travel in a research note on Friday, November 18th. They issued a “buy” rating and a $185.00 price objective for the company. Raymond James Financial Inc. downgraded Allegiant Travel from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 27th. Finally, Buckingham Research raised Allegiant Travel from a “neutral” rating to a “buy” rating and set a $168.00 price objective for the company in a research note on Friday, September 23rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Allegiant Travel has a consensus rating of “Hold” and a consensus target price of $176.83.

In other news, CFO Scott Sheldon sold 2,596 shares of the business’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 sale, the chief financial officer now directly owns 20,964 shares of the company’s stock, valued at approximately $3,222,166.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 21.00% of the stock is owned by insiders.

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.

5 Day Chart for NASDAQ:ALGT

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