Neuberger Berman Group LLC Has $78.94 Million Stake in Allegiant Travel (ALGT)
Neuberger Berman Group LLC lowered its stake in Allegiant Travel (NASDAQ:ALGT) by 2.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 599,399 shares of the transportation company’s stock after selling 12,180 shares during the period. Neuberger Berman Group LLC owned approximately 3.73% of Allegiant Travel worth $78,941,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALGT. Bank of Montreal Can increased its holdings in shares of Allegiant Travel by 28.9% in the second quarter. Bank of Montreal Can now owns 829 shares of the transportation company’s stock worth $112,000 after buying an additional 186 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Allegiant Travel by 17.5% in the second quarter. Victory Capital Management Inc. now owns 853 shares of the transportation company’s stock worth $116,000 after buying an additional 127 shares during the period. Riverhead Capital Management LLC increased its holdings in shares of Allegiant Travel by 119.8% in the second quarter. Riverhead Capital Management LLC now owns 1,099 shares of the transportation company’s stock worth $149,000 after buying an additional 599 shares during the period. Flinton Capital Management LLC increased its holdings in shares of Allegiant Travel by 81.8% in the second quarter. Flinton Capital Management LLC now owns 1,120 shares of the transportation company’s stock worth $152,000 after buying an additional 504 shares during the period. Finally, D.A. Davidson & CO. increased its holdings in shares of Allegiant Travel by 2.0% in the second quarter. D.A. Davidson & CO. now owns 1,176 shares of the transportation company’s stock worth $159,000 after buying an additional 23 shares during the period. Hedge funds and other institutional investors own 86.22% of the company’s stock.
In other news, President John Redmond bought 11,000 shares of Allegiant Travel stock in a transaction on Friday, October 27th. The shares were purchased at an average price of $138.28 per share, for a total transaction of $1,521,080.00. Following the acquisition, the president now owns 92,574 shares of the company’s stock, valued at $12,801,132.72. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gary Ellmer sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $148.85, for a total value of $148,850.00. Following the transaction, the director now owns 2,120 shares in the company, valued at approximately $315,562. The disclosure for this sale can be found here. 21.00% of the stock is currently owned by corporate insiders.
Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Wednesday, October 25th. The transportation company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.08. Allegiant Travel had a return on equity of 32.19% and a net margin of 10.52%. The company had revenue of $348.80 million for the quarter, compared to the consensus estimate of $349.79 million. During the same quarter in the previous year, the business earned $2.75 EPS. Allegiant Travel’s revenue was up 4.6% compared to the same quarter last year. equities analysts forecast that Allegiant Travel will post 8.6 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Shareholders of record on Wednesday, November 22nd were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, November 21st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.87%. Allegiant Travel’s dividend payout ratio (DPR) is 29.79%.
Several research analysts have recently commented on the company. Barclays reiterated a “sell” rating and issued a $130.00 price objective on shares of Allegiant Travel in a report on Thursday, September 14th. BidaskClub downgraded Allegiant Travel from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. Buckingham Research downgraded Allegiant Travel from a “buy” rating to a “neutral” rating in a report on Monday, December 4th. Stifel Nicolaus restated a “hold” rating and set a $135.00 price target on shares of Allegiant Travel in a report on Thursday, October 26th. Finally, ValuEngine downgraded Allegiant Travel from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $146.45.
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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.
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