Uncommon Cents Investing LLC purchased a new position in Allegiant Travel (NASDAQ:ALGT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,205 shares of the transportation company’s stock, valued at approximately $670,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its holdings 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 purchasing an additional 3,872 shares during the last quarter. State Street Corp boosted its holdings in shares of Allegiant Travel by 2.4% during the 2nd quarter. State Street Corp now owns 354,060 shares of the transportation company’s stock valued at $48,013,000 after purchasing an additional 8,300 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Allegiant Travel by 517.5% during the 3rd quarter. Victory Capital Management Inc. now owns 5,267 shares of the transportation company’s stock valued at $694,000 after purchasing an additional 4,414 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of Allegiant Travel during the 2nd quarter valued at about $385,000. Finally, Schroder Investment Management Group boosted its holdings in shares of Allegiant Travel by 7.7% during the 3rd quarter. Schroder Investment Management Group now owns 269,275 shares of the transportation company’s stock valued at $35,989,000 after purchasing an additional 19,303 shares during the last quarter. 85.22% of the stock is owned by institutional investors and hedge funds.
Allegiant Travel (NASDAQ ALGT) opened at $167.00 on Friday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.05 and a quick ratio of 1.01. Allegiant Travel has a 1-year low of $111.54 and a 1-year high of $178.20. The company has a market cap of $2,685.03, a PE ratio of 17.51, a P/E/G ratio of 0.52 and a beta of 0.17.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, March 2nd will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.68%. The ex-dividend date is Thursday, March 1st. Allegiant Travel’s payout ratio is currently 23.41%.
ALGT has been the subject of several research reports. Stifel Nicolaus reissued a “hold” rating and set a $135.00 price objective on shares of Allegiant Travel in a report on Thursday, October 26th. Cowen reissued a “market perform” rating and set a $158.00 price objective (up previously from $145.00) on shares of Allegiant Travel in a report on Friday, December 1st. Zacks Investment Research raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a report on Monday, December 4th. Buckingham Research downgraded shares of Allegiant Travel from a “buy” rating to a “neutral” rating in a report on Monday, December 4th. Finally, Raymond James Financial reissued a “hold” rating on shares of Allegiant Travel in a report on Monday, December 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $163.27.
In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $148.85, for a total value of $148,850.00. Following the completion of the sale, the director now owns 2,120 shares of the company’s stock, valued at $315,562. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Maurice J. Gallagher, Jr. sold 16,018 shares of the firm’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $155.82, for a total transaction of $2,495,924.76. Following the completion of the sale, the chief executive officer now directly owns 3,144,674 shares of the company’s stock, valued at approximately $490,003,102.68. The disclosure for this sale can be found here. In the last three months, insiders sold 288,696 shares of company stock valued at $47,742,513. 21.00% of the stock is owned by insiders.
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Allegiant Travel 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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