Nationwide Fund Advisors lifted its holdings in shares of Allegiant Travel Company (NASDAQ:ALGT) by 2.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,251 shares of the transportation company’s stock after purchasing an additional 1,894 shares during the quarter. Nationwide Fund Advisors owned 0.51% of Allegiant Travel worth $11,153,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ALGT. Bank of Montreal Can raised its position in shares of Allegiant Travel by 28.9% during the second quarter. Bank of Montreal Can now owns 829 shares of the transportation company’s stock worth $112,000 after purchasing an additional 186 shares during the period. Victory Capital Management Inc. raised its position in shares of Allegiant Travel by 17.5% during the second quarter. Victory Capital Management Inc. now owns 853 shares of the transportation company’s stock worth $116,000 after purchasing an additional 127 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of Allegiant Travel during the first quarter worth about $146,000. Riverhead Capital Management LLC raised its position in shares of Allegiant Travel by 119.8% during the second quarter. Riverhead Capital Management LLC now owns 1,099 shares of the transportation company’s stock worth $149,000 after purchasing an additional 599 shares during the period. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Allegiant Travel during the first quarter worth about $183,000. 82.39% of the stock is currently owned by institutional investors.

Allegiant Travel Company (NASDAQ:ALGT) opened at 130.10 on Monday. The company’s 50 day moving average price is $121.52 and its 200-day moving average price is $141.23. Allegiant Travel Company has a 12-month low of $111.54 and a 12-month high of $182.25. The company has a market capitalization of $2.11 billion, a P/E ratio of 12.20 and a beta of -0.01.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Wednesday, July 26th. The transportation company reported $2.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.96 by ($0.02). Allegiant Travel had a return on equity of 37.66% and a net margin of 12.23%. The firm had revenue of $400.60 million for the quarter, compared to analyst estimates of $399.58 million. During the same period last year, the company posted $3.68 earnings per share. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. Equities analysts forecast that Allegiant Travel Company will post $9.17 earnings per share for the current fiscal year.

Allegiant Travel declared that its board has authorized a share repurchase program on Wednesday, July 26th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the transportation company to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Friday, August 18th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date was Wednesday, August 16th. Allegiant Travel’s dividend payout ratio (DPR) is currently 26.24%.

A number of equities research analysts have recently commented on ALGT shares. Cowen and Company reaffirmed a “market perform” rating and set a $157.00 price target on shares of Allegiant Travel in a research report on Tuesday, May 30th. ValuEngine lowered Allegiant Travel from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research raised Allegiant Travel from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Bank of America Corporation dropped their price target on Allegiant Travel from $175.00 to $165.00 and set a “neutral” rating on the stock in a research report on Friday, June 30th. Finally, Morgan Stanley reaffirmed 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. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. Allegiant Travel has a consensus rating of “Hold” and a consensus target price of $149.00.

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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.

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

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