Wasatch Advisors Inc. decreased its holdings in Allegiant Travel (NASDAQ:ALGT) by 4.7% in the third quarter, Holdings Channel reports. The fund owned 707,127 shares of the transportation company’s stock after selling 35,081 shares during the period. Wasatch Advisors Inc.’s holdings in Allegiant Travel were worth $89,664,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ALGT. UBS Group AG increased its holdings in shares of Allegiant Travel by 98.3% during the 1st quarter. UBS Group AG now owns 6,768 shares of the transportation company’s stock worth $1,168,000 after buying an additional 3,355 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Allegiant Travel by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 97,381 shares of the transportation company’s stock worth $16,803,000 after buying an additional 2,032 shares during the last quarter. Naples Global Advisors LLC increased its holdings in shares of Allegiant Travel by 25.4% during the 2nd quarter. Naples Global Advisors LLC now owns 4,095 shares of the transportation company’s stock worth $569,000 after buying an additional 830 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of Allegiant Travel by 1.8% during the 2nd quarter. Bessemer Group Inc. now owns 21,475 shares of the transportation company’s stock worth $2,984,000 after buying an additional 385 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Allegiant Travel by 14.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,399 shares of the transportation company’s stock worth $1,306,000 after buying an additional 1,217 shares during the last quarter. Institutional investors and hedge funds own 87.86% of the company’s stock.

Allegiant Travel stock traded up $1.36 during trading on Tuesday, hitting $123.25. The company had a trading volume of 7,703 shares, compared to its average volume of 236,674. Allegiant Travel has a 1-year low of $105.21 and a 1-year high of $181.45. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.50 and a current ratio of 0.53. The company has a market capitalization of $1.97 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 0.57 and a beta of 0.30.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Wednesday, October 24th. The transportation company reported $0.94 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.02). Allegiant Travel had a net margin of 12.42% and a return on equity of 26.83%. The company had revenue of $393.11 million during the quarter, compared to analyst estimates of $390.30 million. During the same quarter last year, the business posted $1.39 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, equities research analysts forecast that Allegiant Travel will post 9.49 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 5th. Investors of record on Friday, November 23rd will be issued a $0.70 dividend. The ex-dividend date is Wednesday, November 21st. This represents a $2.80 annualized dividend and a yield of 2.27%. Allegiant Travel’s dividend payout ratio (DPR) is presently 29.32%.

In related news, President John Redmond bought 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 31st. The stock was purchased at an average price of $115.42 per share, for a total transaction of $1,385,040.00. Following the acquisition, the president now owns 102,125 shares of the company’s stock, valued at $11,787,267.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert Paul Wilson III sold 380 shares of Allegiant Travel stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $135.01, for a total transaction of $51,303.80. Following the completion of the sale, the executive vice president now owns 17,816 shares of the company’s stock, valued at approximately $2,405,338.16. The disclosure for this sale can be found here. 20.80% of the stock is currently owned by company insiders.

ALGT has been the subject of a number of recent analyst reports. Morgan Stanley set a $130.00 price target on shares of Allegiant Travel and gave the stock a “hold” rating in a report on Thursday, October 11th. BidaskClub upgraded shares of Allegiant Travel from a “sell” rating to a “hold” rating in a report on Friday, August 10th. Imperial Capital cut their price target on shares of Allegiant Travel from $165.00 to $121.00 and set an “inline” rating for the company in a report on Friday, July 27th. ValuEngine downgraded shares of Allegiant Travel from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Finally, Buckingham Research cut their price target on shares of Allegiant Travel from $165.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday, October 10th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $152.82.

TRADEMARK VIOLATION WARNING: “Wasatch Advisors Inc. Sells 35,081 Shares of Allegiant Travel (ALGT)” was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of US and international copyright and trademark law. The legal version of this article can be read at https://www.thecerbatgem.com/2018/11/13/wasatch-advisors-inc-sells-35081-shares-of-allegiant-travel-algt.html.

Allegiant Travel Company Profile

Allegiant Travel Company, a leisure travel company, focuses on the provision of travel services and products to residents of under-served cities in the United States. The company offers scheduled air transportation on limited frequency nonstop flights between under-served cities and leisure destinations.

See Also: How are institutional investors different from individual investors?

Want to see what other hedge funds are holding ALGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allegiant Travel (NASDAQ:ALGT).

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

Receive News & Ratings for Allegiant Travel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegiant Travel and related companies with MarketBeat.com's FREE daily email newsletter.