Nisa Investment Advisors LLC reduced its position in shares of Allegiant Travel Company (NASDAQ:ALGT) by 37.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,220 shares of the transportation company’s stock after selling 3,060 shares during the period. Nisa Investment Advisors LLC’s holdings in Allegiant Travel were worth $710,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in ALGT. Russell Investments Group Ltd. acquired a new position in shares of Allegiant Travel during the fourth quarter worth approximately $298,000. Norges Bank acquired a new position in shares of Allegiant Travel during the fourth quarter worth approximately $11,706,000. Teachers Advisors LLC increased its position in shares of Allegiant Travel by 6.4% in the fourth quarter. Teachers Advisors LLC now owns 22,147 shares of the transportation company’s stock worth $3,685,000 after buying an additional 1,339 shares during the last quarter. Americafirst Capital Management LLC acquired a new position in shares of Allegiant Travel during the first quarter worth approximately $180,000. Finally, Louisiana State Employees Retirement System increased its position in shares of Allegiant Travel by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 5,400 shares of the transportation company’s stock worth $865,000 after buying an additional 100 shares during the last quarter. 85.73% of the stock is owned by hedge funds and other institutional investors.
Allegiant Travel Company (NASDAQ ALGT) opened at 118.80 on Friday. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 11.14 and a beta of -0.05. The stock’s 50 day moving average is $134.16 and its 200-day moving average is $149.46. Allegiant Travel Company has a 12 month low of $117.50 and a 12 month high of $182.25.
Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings data on Wednesday, July 26th. The transportation company reported $2.94 EPS for the quarter, missing the consensus estimate of $2.96 by $0.02. Allegiant Travel had a return on equity of 37.66% and a net margin of 12.23%. The company had revenue of $400.60 million during the quarter, compared to analyst estimates of $399.58 million. During the same quarter in the prior year, the company posted $3.68 earnings per share. The business’s revenue was up 16.1% compared to the same quarter last year. On average, equities research analysts expect that Allegiant Travel Company will post $9.33 earnings per share for the current year.
Allegiant Travel declared that its Board of Directors has approved a stock repurchase program on Wednesday, July 26th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the transportation company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.36%. Allegiant Travel’s dividend payout ratio is currently 26.24%.
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Several brokerages have issued reports on ALGT. BidaskClub downgraded shares of Allegiant Travel from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Morgan Stanley decreased their price objective on shares of Allegiant Travel from $139.00 to $133.00 and set an “equal weight” rating for the company in a research note on Thursday. Cowen and Company reissued a “market perform” rating and issued a $150.00 price objective (down previously from $157.00) on shares of Allegiant Travel in a research note on Thursday, July 27th. Imperial Capital reissued an “in-line” rating and issued a $155.00 price objective (down previously from $170.00) on shares of Allegiant Travel in a research note on Thursday, April 27th. Finally, Bank of America Corporation downgraded shares of Allegiant Travel from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $205.00 to $175.00 in a research note on Wednesday, April 26th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. Allegiant Travel presently has an average rating of “Hold” and a consensus price target of $157.92.
In other news, SVP Gregory Clark Anderson sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $142.08, for a total value of $213,120.00. Following the transaction, the senior vice president now directly owns 15,054 shares in the company, valued at approximately $2,138,872.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate 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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