Allegiant Travel Company (ALGT) Position Held by Summit Global Investments
Summit Global Investments held its stake in Allegiant Travel Company (NASDAQ:ALGT) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,300 shares of the transportation company’s stock at the end of the first quarter. Summit Global Investments’ holdings in Allegiant Travel Company were worth $369,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the company. BlackRock Inc. increased its stake in Allegiant Travel Company by 141,260.2% in the first quarter. BlackRock Inc. now owns 1,546,481 shares of the transportation company’s stock valued at $247,824,000 after buying an additional 1,545,387 shares during the last quarter. Vanguard Group Inc. increased its stake in Allegiant Travel Company by 4.7% in the first quarter. Vanguard Group Inc. now owns 1,157,458 shares of the transportation company’s stock valued at $185,482,000 after buying an additional 51,487 shares during the last quarter. FMR LLC increased its stake in Allegiant Travel Company by 0.6% in the first quarter. FMR LLC now owns 932,540 shares of the transportation company’s stock valued at $149,439,000 after buying an additional 6,000 shares during the last quarter. Neuberger Berman Group LLC increased its stake in Allegiant Travel Company by 17.6% in the first quarter. Neuberger Berman Group LLC now owns 601,416 shares of the transportation company’s stock valued at $96,377,000 after buying an additional 90,037 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Allegiant Travel Company by 5.3% in the first quarter. Dimensional Fund Advisors LP now owns 383,712 shares of the transportation company’s stock valued at $61,490,000 after buying an additional 19,245 shares during the last quarter. 83.75% of the stock is owned by institutional investors and hedge funds.
Shares of Allegiant Travel Company (NASDAQ:ALGT) traded up 0.25% during midday trading on Tuesday, reaching $138.80. 26,696 shares of the company’s stock traded hands. The firm has a market capitalization of $2.27 billion, a P/E ratio of 12.17 and a beta of -0.01. The stock’s 50 day moving average price is $142.92 and its 200 day moving average price is $159.81. Allegiant Travel Company has a 52-week low of $121.70 and a 52-week high of $182.25.
Allegiant Travel Company (NASDAQ:ALGT) last posted its quarterly earnings results on Tuesday, April 25th. The transportation company reported $2.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.58 by $0.08. The firm had revenue of $375.80 million during the quarter, compared to the consensus estimate of $374.99 million. Allegiant Travel Company had a net margin of 13.61% and a return on equity of 41.46%. Allegiant Travel Company’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.29 EPS. On average, equities research analysts anticipate that Allegiant Travel Company will post $9.60 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 2nd. Investors of record on Friday, May 19th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Wednesday, May 17th. Allegiant Travel Company’s dividend payout ratio is 24.54%.
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Several equities research analysts recently weighed in on ALGT shares. Imperial Capital reduced their price objective on shares of Allegiant Travel Company from $182.00 to $170.00 and set an “in-line” rating for the company in a report on Wednesday, April 12th. Zacks Investment Research downgraded shares of Allegiant Travel Company from a “hold” rating to a “sell” rating in a report on Friday, April 14th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $173.00 price objective on shares of Allegiant Travel Company in a report on Wednesday, April 19th. ValuEngine downgraded shares of Allegiant Travel Company from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Bank of America Corporation downgraded shares of Allegiant Travel Company from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $205.00 to $175.00 in a report on Wednesday, April 26th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $161.89.
In related news, SVP Gregory Clark Anderson sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $142.08, for a total value of $213,120.00. Following the transaction, the senior vice president now owns 15,054 shares in the company, valued at $2,138,872.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 22.00% of the stock is owned by company insiders.
About Allegiant Travel Company
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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