SG Americas Securities LLC Takes Position in Allegiant Travel Company (ALGT)
SG Americas Securities LLC bought a new position in shares of Allegiant Travel Company (NASDAQ:ALGT) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,499 shares of the transportation company’s stock, valued at approximately $339,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. boosted its stake 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 purchasing an additional 1,545,387 shares during the last quarter. Vanguard Group Inc. boosted its stake 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 purchasing an additional 51,487 shares during the last quarter. FMR LLC boosted its stake in Allegiant Travel by 0.6% during the 1st quarter. FMR LLC now owns 932,540 shares of the transportation company’s stock worth $149,439,000 after purchasing an additional 6,000 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in Allegiant Travel by 17.6% during the 1st quarter. Neuberger Berman Group LLC now owns 601,416 shares of the transportation company’s stock worth $96,377,000 after purchasing an additional 90,037 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Allegiant Travel by 5.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 383,712 shares of the transportation company’s stock worth $61,490,000 after purchasing an additional 19,245 shares during the last quarter. 82.39% of the stock is currently owned by institutional investors.
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Several equities research analysts have issued reports on the stock. Cowen and Company reaffirmed a “market perform” rating and set a $157.00 target price on shares of Allegiant Travel in a research note on Tuesday, May 30th. ValuEngine raised shares of Allegiant Travel from a “hold” rating to a “buy” rating in a research note on Thursday, July 20th. Zacks Investment Research raised shares of Allegiant Travel from a “hold” rating to a “buy” rating and set a $159.00 target price on the stock in a research note on Monday, July 17th. Sidoti reiterated a “buy” rating and set a $186.00 price target (up previously from $183.00) on shares of Allegiant Travel in a report on Wednesday, July 12th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $141.00 price target (down previously from $144.00) on shares of Allegiant Travel in a report on Monday, July 10th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. Allegiant Travel presently has a consensus rating of “Hold” and an average target price of $153.75.
Shares of Allegiant Travel Company (NASDAQ:ALGT) opened at 123.10 on Friday. The stock has a market capitalization 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 of $122.14 and a 200 day moving average of $142.76. Allegiant Travel Company has a one year low of $111.54 and a one year high of $182.25.
Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data on Wednesday, July 26th. The transportation company reported $2.94 EPS for the quarter, missing analysts’ consensus estimates of $2.96 by ($0.02). The company had revenue of $400.60 million for the quarter, compared to analyst estimates of $399.58 million. Allegiant Travel had a net margin of 12.23% and a return on equity of 37.66%. The firm’s revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.68 EPS. Equities research analysts forecast that Allegiant Travel Company will post $9.19 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Friday, August 18th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Wednesday, August 16th. Allegiant Travel’s payout ratio is currently 26.24%.
Allegiant Travel announced that its board has approved a share repurchase plan on Wednesday, July 26th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the transportation company to buy up to 4.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
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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