Allegiant Travel Company (ALGT) Reaches New 12-Month Low at $122.75
Allegiant Travel Company (NASDAQ:ALGT)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $122.75 and last traded at $122.65, with a volume of 77,091 shares traded. The stock had previously closed at $125.75.
ALGT has been the topic of a number of recent research reports. Zacks Investment Research downgraded Allegiant Travel from a “hold” rating to a “sell” rating in a research report on Friday, April 14th. Stifel Nicolaus reissued a “hold” rating and set a $173.00 price target on shares of Allegiant Travel in a research report on Wednesday, April 19th. ValuEngine downgraded Allegiant Travel from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Morgan Stanley reissued an “equal weight” rating and set a $141.00 price target (down previously from $144.00) on shares of Allegiant Travel in a research report on Monday, July 10th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $130.00 price target (down previously from $153.00) on shares of Allegiant Travel in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $158.58.
The firm has a 50 day moving average price of $137.69 and a 200 day moving average price of $151.93. The company has a market capitalization of $1.98 billion, a PE ratio of 11.49 and a beta of -0.05.
Allegiant Travel (NASDAQ:ALGT) last released its earnings results on Wednesday, July 26th. The transportation company reported $2.94 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.96 by $0.02. Allegiant Travel had a return on equity of 37.66% and a net margin of 12.23%. The company had revenue of $400.60 million for the quarter, compared to analyst estimates of $399.58 million. During the same period in the previous year, the firm earned $3.68 earnings per share. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. On average, equities analysts anticipate that Allegiant Travel Company will post $9.38 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, August 18th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 annualized dividend and a yield of 2.23%. Allegiant Travel’s payout ratio is 26.24%.
Allegiant Travel declared that its board has approved a stock buyback program on Wednesday, July 26th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the transportation company to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, SVP Gregory Clark Anderson sold 1,500 shares of the business’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $142.08, for a total transaction of $213,120.00. Following the completion of the transaction, the senior vice president now directly owns 15,054 shares of the company’s stock, valued at approximately $2,138,872.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 21.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its position in Allegiant Travel by 28.9% in the second quarter. Bank of Montreal Can now owns 829 shares of the transportation company’s stock valued at $112,000 after buying an additional 186 shares during the last quarter. Victory Capital Management Inc. boosted its position in Allegiant Travel by 17.5% in the second quarter. Victory Capital Management Inc. now owns 853 shares of the transportation company’s stock valued at $116,000 after buying an additional 127 shares in the last quarter. Neuburgh Advisers LLC boosted its position in Allegiant Travel by 10.0% in the first quarter. Neuburgh Advisers LLC now owns 748 shares of the transportation company’s stock valued at $120,000 after buying an additional 68 shares in the last quarter. James Investment Research Inc. acquired a new position in Allegiant Travel during the first quarter valued at about $140,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in Allegiant Travel during the first quarter valued at about $146,000. 85.77% of the stock is owned by hedge funds and other institutional investors.
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. 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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