Royce & Associates LP Has $1.65 Million Stake in Allegiant Travel Company (ALGT)
Royce & Associates LP grew its stake in shares of Allegiant Travel Company (NASDAQ:ALGT) by 0.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,201 shares of the transportation company’s stock after purchasing an additional 23 shares during the quarter. Royce & Associates LP owned approximately 0.08% of Allegiant Travel worth $1,654,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Allegiant Travel by 4.7% during the first quarter. Vanguard Group Inc. now owns 1,157,458 shares of the transportation company’s stock valued at $185,482,000 after purchasing an additional 51,487 shares during the period. BlackRock Inc. boosted its stake in shares of Allegiant Travel by 141,260.2% during the first quarter. BlackRock Inc. now owns 1,546,481 shares of the transportation company’s stock valued at $247,824,000 after purchasing an additional 1,545,387 shares during the period. GHP Investment Advisors Inc. boosted its stake in shares of Allegiant Travel by 14.4% during the second quarter. GHP Investment Advisors Inc. now owns 7,901 shares of the transportation company’s stock valued at $1,071,000 after purchasing an additional 992 shares during the period. FMR LLC boosted its stake in shares of Allegiant Travel by 0.6% during the first quarter. FMR LLC now owns 932,540 shares of the transportation company’s stock valued at $149,439,000 after purchasing an additional 6,000 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Allegiant Travel by 1.6% during the first quarter. Ameriprise Financial Inc. now owns 74,254 shares of the transportation company’s stock valued at $11,898,000 after purchasing an additional 1,135 shares during the period. 82.39% of the stock is owned by hedge funds and other institutional investors.
Shares of Allegiant Travel Company (ALGT) opened at 123.10 on Friday. Allegiant Travel Company has a 52 week low of $111.54 and a 52 week high of $182.25. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 11.55 and a beta of -0.01. The company has a 50-day moving average price of $122.14 and a 200-day moving average price of $142.76.
Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Wednesday, July 26th. The transportation company reported $2.94 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.96 by ($0.02). The business had revenue of $400.60 million during the quarter, compared to the consensus estimate of $399.58 million. Allegiant Travel had a net margin of 12.23% and a return on equity of 37.66%. The business’s revenue was up 16.1% compared to the same quarter last year. During the same period last year, the company earned $3.68 EPS. Equities analysts anticipate that Allegiant Travel Company will post $9.19 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Wednesday, August 16th. Allegiant Travel’s dividend payout ratio (DPR) is presently 26.24%.
Allegiant Travel declared that its Board of Directors has approved a stock buyback plan on Wednesday, July 26th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the transportation company to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
ALGT has been the subject of a number of analyst reports. Bank of America Corporation dropped their price objective on Allegiant Travel from $175.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday, June 30th. ValuEngine lowered Allegiant Travel from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Morgan Stanley dropped their price objective on Allegiant Travel from $139.00 to $133.00 and set an “equal weight” rating for the company in a research note on Thursday, August 17th. Zacks Investment Research raised Allegiant Travel from a “hold” rating to a “buy” rating and set a $159.00 price objective for the company in a research note on Monday, July 17th. Finally, Cowen and Company reissued a “market perform” rating and set a $150.00 price objective (down previously from $157.00) on shares of Allegiant Travel in a research note on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $153.75.
About Allegiant Travel
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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