Allegiant Travel (NASDAQ:ALGT) Stock: Insider Charles Pollard Sells 10,000 Shares

Allegiant Travel Company (NASDAQ:ALGT) Director Charles Pollard sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $93.04, for a total value of $930,400.00. Following the completion of the sale, the director owned 16,000 shares of the company’s stock, valued at approximately $1,488,640. This trade represents a 38.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Allegiant Travel Stock Up 5.0%

Shares of Allegiant Travel stock opened at $91.97 on Friday. Allegiant Travel Company has a 12-month low of $61.36 and a 12-month high of $123.63. The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 1.38. The stock has a 50 day moving average price of $75.62 and a two-hundred day moving average price of $87.52. The stock has a market capitalization of $2.51 billion, a P/E ratio of 28.21, a PEG ratio of 0.33 and a beta of 1.65.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Wednesday, November 4th. The transportation company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.41. Allegiant Travel had a net margin of 1.65% and a return on equity of 12.99%. The company had revenue of $961.56 million for the quarter, compared to analyst estimates of $946.44 million. During the same quarter last year, the firm posted ($2.09) earnings per share. The company’s quarterly revenue was up 71.2% compared to the same quarter last year. Equities analysts expect that Allegiant Travel Company will post 6.24 earnings per share for the current year.

Hedge Funds Weigh In On Allegiant Travel

Several large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its holdings in Allegiant Travel by 4.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 27,465 shares of the transportation company’s stock valued at $2,082,000 after buying an additional 1,065 shares during the period. Maryland State Retirement & Pension System lifted its holdings in shares of Allegiant Travel by 67.2% during the 3rd quarter. Maryland State Retirement & Pension System now owns 5,468 shares of the transportation company’s stock worth $414,000 after acquiring an additional 2,198 shares during the period. Jefferies Financial Group Inc. bought a new position in shares of Allegiant Travel during the 3rd quarter worth about $1,421,000. Fulcrum Asset Management LLP bought a new position in shares of Allegiant Travel during the 3rd quarter worth about $682,000. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of Allegiant Travel by 7.8% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 5,500 shares of the transportation company’s stock valued at $417,000 after acquiring an additional 400 shares in the last quarter. 85.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Susquehanna cut their target price on shares of Allegiant Travel from $110.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, October 7th. UBS Group raised Allegiant Travel from a “neutral” rating to a “buy” rating and lowered their price target for the company from $111.00 to $107.00 in a research report on Sunday, September 13th. Zacks Research lowered Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 15th. Wall Street Zen cut Allegiant Travel from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $120.00 target price on shares of Allegiant Travel in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $124.15.

About Allegiant Travel

Allegiant Travel Company is a leisure-focused travel company headquartered in Las Vegas, Nevada. Its principal operating subsidiary, Allegiant Air, is a low-cost airline that provides scheduled and charter passenger service, primarily connecting smaller and mid-sized U.S. cities with popular vacation destinations.

Allegiant Air’s business model emphasizes nonstop routes, low base fares and optional services such as seat selection, baggage, priority boarding and other travel-related amenities.