Piedmont Investment Advisors LLC Purchases New Stake in Allegiant Travel Company (ALGT)
Piedmont Investment Advisors LLC purchased a new position in shares of Allegiant Travel Company (NASDAQ:ALGT) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,842 shares of the transportation company’s stock, valued at approximately $385,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Marshall Wace North America L.P. purchased a new position in Allegiant Travel during the 2nd quarter worth approximately $919,000. BNP Paribas Arbitrage SA raised its position in Allegiant Travel by 45.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,054 shares of the transportation company’s stock worth $685,000 after buying an additional 1,591 shares during the last quarter. Vanguard Group Inc. raised its position in Allegiant Travel by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 1,157,458 shares of the transportation company’s stock worth $185,482,000 after buying an additional 51,487 shares during the last quarter. BlackRock Inc. raised its position in Allegiant Travel by 141,260.2% during the 1st quarter. BlackRock Inc. now owns 1,546,481 shares of the transportation company’s stock worth $247,824,000 after buying an additional 1,545,387 shares during the last quarter. Finally, GHP Investment Advisors Inc. raised its position in Allegiant Travel by 14.4% during the 2nd quarter. GHP Investment Advisors Inc. now owns 7,901 shares of the transportation company’s stock worth $1,071,000 after buying an additional 992 shares during the last quarter. 82.36% of the stock is owned by institutional investors.
COPYRIGHT VIOLATION NOTICE: “Piedmont Investment Advisors LLC Purchases New Stake in Allegiant Travel Company (ALGT)” was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark legislation. The legal version of this story can be read at https://www.thecerbatgem.com/2017/10/21/piedmont-investment-advisors-llc-purchases-new-stake-in-allegiant-travel-company-algt.html.
A number of equities analysts have issued reports on the stock. ValuEngine raised shares of Allegiant Travel from a “hold” rating to a “buy” rating in a research report on Thursday, July 20th. Cowen and Company reissued a “market perform” rating and set a $150.00 price target (down from $157.00) on shares of Allegiant Travel in a research report on Thursday, July 27th. Zacks Investment Research raised shares of Allegiant Travel from a “hold” rating to a “buy” rating and set a $159.00 price target for the company in a research report on Monday, July 17th. Sidoti reissued a “buy” rating and set a $186.00 price target (up from $183.00) on shares of Allegiant Travel in a research report on Wednesday, July 12th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $141.00 price target (down from $144.00) on shares of Allegiant Travel in a research report on Monday, July 10th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $144.17.
Shares of Allegiant Travel Company (NASDAQ ALGT) opened at 140.30 on Friday. The stock’s 50 day moving average is $129.61 and its 200-day moving average is $137.37. Allegiant Travel Company has a 52 week low of $111.54 and a 52 week high of $182.25. The firm has a market cap of $2.27 billion, a PE ratio of 13.16 and a beta of 0.03.
Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Wednesday, July 26th. The transportation company reported $2.94 earnings per share for the quarter, missing the Zacks’ 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 business had revenue of $400.60 million for the quarter, compared to analyst estimates of $399.58 million. During the same period in the prior year, the company earned $3.68 EPS. The company’s revenue was up 16.1% on a year-over-year basis. On average, equities analysts predict that Allegiant Travel Company will post $8.89 EPS for the current fiscal year.
Allegiant Travel announced that its board has authorized a stock buyback plan on Wednesday, July 26th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the transportation company to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
Allegiant Travel 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.
Receive News & Stock Ratings for Allegiant Travel Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegiant Travel Company and related stocks with our FREE daily email newsletter.