Oppenheimer Asset Management Inc. lifted its stake in shares of Allegiant Travel (NASDAQ:ALGT) by 44.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,861 shares of the transportation company’s stock after acquiring an additional 569 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Allegiant Travel were worth $259,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ALGT. Wells Fargo & Company MN increased its holdings in shares of Allegiant Travel by 1.9% in the first quarter. Wells Fargo & Company MN now owns 21,012 shares of the transportation company’s stock worth $3,625,000 after purchasing an additional 399 shares during the period. Rhumbline Advisers increased its holdings in shares of Allegiant Travel by 1.3% in the first quarter. Rhumbline Advisers now owns 31,459 shares of the transportation company’s stock worth $5,428,000 after purchasing an additional 400 shares during the period. Prudential Financial Inc. increased its holdings in shares of Allegiant Travel by 38.1% in the first quarter. Prudential Financial Inc. now owns 34,629 shares of the transportation company’s stock worth $5,975,000 after purchasing an additional 9,550 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in shares of Allegiant Travel by 10.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 4,580 shares of the transportation company’s stock worth $790,000 after purchasing an additional 415 shares during the period. Finally, D.A. Davidson & CO. bought a new position in shares of Allegiant Travel in the first quarter worth $201,000. Institutional investors and hedge funds own 96.19% of the company’s stock.

In related news, EVP Robert Paul Wilson III sold 380 shares of the stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $135.01, for a total value of $51,303.80. Following the transaction, the executive vice president now owns 17,816 shares of the company’s stock, valued at $2,405,338.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 20.80% of the stock is owned by corporate insiders.

Several research firms have recently weighed in on ALGT. BidaskClub cut shares of Allegiant Travel from a “hold” rating to a “sell” rating in a report on Saturday. ValuEngine cut shares of Allegiant Travel from a “hold” rating to a “sell” rating in a report on Wednesday, June 27th. Zacks Investment Research raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a report on Wednesday, July 11th. Imperial Capital decreased their price target on shares of Allegiant Travel from $165.00 to $121.00 and set an “inline” rating on the stock in a report on Friday, July 27th. Finally, Buckingham Research decreased their price target on shares of Allegiant Travel from $179.00 to $165.00 and set a “buy” rating on the stock in a report on Thursday, July 26th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $152.36.

ALGT opened at $132.55 on Tuesday. The firm has a market capitalization of $2.14 billion, a P/E ratio of 12.48, a PEG ratio of 0.51 and a beta of 0.16. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.54. Allegiant Travel has a 52 week low of $115.25 and a 52 week high of $181.45.

Allegiant Travel (NASDAQ:ALGT) last released its earnings results on Wednesday, July 25th. The transportation company reported $3.10 EPS for the quarter, beating the Zacks’ consensus estimate of $2.66 by $0.44. The business had revenue of $436.80 million for the quarter, compared to analysts’ expectations of $437.69 million. Allegiant Travel had a return on equity of 30.22% and a net margin of 13.21%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.94 earnings per share. sell-side analysts anticipate that Allegiant Travel will post 9.65 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Friday, August 17th were paid a $0.70 dividend. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.11%. Allegiant Travel’s dividend payout ratio is presently 29.32%.

Allegiant Travel 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.

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

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