Investment Counselors of Maryland LLC boosted its stake in Allegiant Travel Company (NASDAQ:ALGT) by 68.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 131,049 shares of the transportation company’s stock after buying an additional 53,255 shares during the period. Investment Counselors of Maryland LLC’s holdings in Allegiant Travel were worth $17,770,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of ALGT. Norges Bank purchased a new stake in Allegiant Travel during the fourth quarter valued at about $11,706,000. GHP Investment Advisors Inc. boosted its stake in Allegiant Travel by 20.7% in the first quarter. GHP Investment Advisors Inc. now owns 6,909 shares of the transportation company’s stock valued at $1,107,000 after buying an additional 1,183 shares in the last quarter. BlackRock Inc. boosted its stake in Allegiant Travel by 141,260.2% in the first quarter. BlackRock Inc. now owns 1,546,481 shares of the transportation company’s stock valued at $247,824,000 after buying an additional 1,545,387 shares in the last quarter. FMR LLC boosted its stake in Allegiant Travel by 0.6% in the first quarter. FMR LLC now owns 932,540 shares of the transportation company’s stock valued at $149,439,000 after buying an additional 6,000 shares in the last quarter. Finally, Americafirst Capital Management LLC purchased a new stake in Allegiant Travel during the first quarter valued at about $180,000. Institutional investors and hedge funds own 82.55% of the company’s stock.
Allegiant Travel Company (NASDAQ ALGT) opened at 131.45 on Friday. The company’s 50 day moving average is $140.24 and its 200 day moving average is $153.67. The company has a market cap of $2.13 billion, a price-to-earnings ratio of 12.33 and a beta of -0.05. Allegiant Travel Company has a 12-month low of $121.70 and a 12-month high of $182.25.
Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Wednesday, July 26th. The transportation company reported $2.94 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.96 by $0.02. The business had revenue of $400.60 million for the quarter, compared to analysts’ expectations of $399.58 million. Allegiant Travel had a net margin of 12.23% and a return on equity of 37.66%. Allegiant Travel’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.68 EPS. Analysts forecast that Allegiant Travel Company will post $9.39 earnings per share for the current fiscal year.
Allegiant Travel announced that its board has initiated a share buyback plan on Wednesday, July 26th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the transportation company to reacquire 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.
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A number of brokerages have recently commented on ALGT. Zacks Investment Research lowered shares of Allegiant Travel from a “hold” rating to a “sell” rating in a report on Friday, April 14th. Stifel Nicolaus reissued a “hold” rating and issued a $173.00 price target on shares of Allegiant Travel in a report on Wednesday, April 19th. ValuEngine lowered shares of Allegiant Travel from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Morgan Stanley reissued an “equal weight” rating and issued a $141.00 price target (down previously from $144.00) on shares of Allegiant Travel in a report on Monday, July 10th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $130.00 price target (down previously from $153.00) on shares of Allegiant Travel in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. Allegiant Travel currently has an average rating of “Hold” and an average price target of $158.58.
In related news, SVP Gregory Clark Anderson sold 1,500 shares of the company’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $142.08, for a total transaction of $213,120.00. Following the sale, the senior vice president now owns 15,054 shares of the company’s stock, valued at $2,138,872.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 21.00% of the stock is owned by corporate insiders.
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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