Livforsakringsbolaget Skandia Omsesidigt Reduces Position in Allegiant Travel (ALGT)
Livforsakringsbolaget Skandia Omsesidigt lessened its stake in shares of Allegiant Travel (NASDAQ:ALGT) by 6.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,200 shares of the transportation company’s stock after selling 500 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Allegiant Travel were worth $1,114,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its position in shares of Allegiant Travel by 154.9% during the 3rd quarter. SG Americas Securities LLC now owns 6,371 shares of the transportation company’s stock valued at $839,000 after acquiring an additional 3,872 shares during the period. State Street Corp raised its holdings in Allegiant Travel by 2.4% during the second quarter. State Street Corp now owns 354,060 shares of the transportation company’s stock worth $48,013,000 after buying an additional 8,300 shares during the last quarter. AHL Partners LLP raised its holdings in Allegiant Travel by 309.1% during the second quarter. AHL Partners LLP now owns 38,747 shares of the transportation company’s stock worth $5,254,000 after buying an additional 29,275 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Allegiant Travel by 517.5% during the third quarter. Victory Capital Management Inc. now owns 5,267 shares of the transportation company’s stock worth $694,000 after buying an additional 4,414 shares during the last quarter. Finally, Piedmont Investment Advisors LLC acquired a new position in Allegiant Travel during the second quarter worth $385,000. Institutional investors own 86.16% of the company’s stock.
Several research firms have weighed in on ALGT. Stifel Nicolaus upgraded shares of Allegiant Travel from a “hold” rating to a “buy” rating and upped their price objective for the stock from $150.00 to $200.00 in a report on Tuesday, January 16th. BidaskClub upgraded shares of Allegiant Travel from a “hold” rating to a “buy” rating in a report on Thursday. Citigroup lowered their price objective on shares of Allegiant Travel from $175.00 to $168.00 and set a “buy” rating on the stock in a report on Tuesday, September 26th. Cowen restated a “hold” rating and set a $145.00 price objective on shares of Allegiant Travel in a report on Tuesday, October 17th. Finally, ValuEngine downgraded shares of Allegiant Travel from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $157.09.
Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Wednesday, October 25th. The transportation company reported $1.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.08. Allegiant Travel had a net margin of 10.52% and a return on equity of 32.19%. The firm had revenue of $348.80 million during the quarter, compared to analyst estimates of $349.79 million. During the same quarter in the prior year, the business posted $2.75 EPS. The business’s revenue was up 4.6% compared to the same quarter last year. research analysts expect that Allegiant Travel will post 8.67 earnings per share for the current year.
In related news, Director Gary Ellmer sold 1,000 shares of the stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $148.85, for a total transaction of $148,850.00. Following the completion of the transaction, the director now owns 2,120 shares in the company, valued at $315,562. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Maurice J. Gallagher, Jr. sold 71,678 shares of the stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $165.54, for a total transaction of $11,865,576.12. Following the transaction, the chief executive officer now owns 3,071,196 shares of the company’s stock, valued at approximately $508,405,785.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 294,568 shares of company stock valued at $48,550,676. Company insiders own 21.00% of the company’s stock.
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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