Allegiant Travel Company (NASDAQ:ALGT) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $122.75 and last traded at $122.65, with a volume of 77,091 shares. The stock had previously closed at $125.75.

Several research firms have recently issued reports on ALGT. Imperial Capital reaffirmed an “in-line” rating and set a $155.00 price objective (down from $170.00) on shares of Allegiant Travel in a research report on Thursday, April 27th. Morgan Stanley reaffirmed an “equal weight” rating and set a $141.00 price objective (down from $144.00) on shares of Allegiant Travel in a research report on Monday, July 10th. Sidoti reaffirmed a “buy” rating and set a $186.00 price objective (up from $183.00) on shares of Allegiant Travel in a research report on Wednesday, July 12th. BidaskClub cut Allegiant Travel from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, Deutsche Bank AG cut Allegiant Travel from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $190.00 to $153.00 in a research report on Wednesday, April 26th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. Allegiant Travel has an average rating of “Hold” and an average target price of $158.58.

The firm’s 50 day moving average is $137.69 and its 200-day moving average is $151.93. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 11.49 and a beta of -0.05.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Wednesday, July 26th. The transportation company reported $2.94 EPS for the quarter, missing the Zacks’ consensus estimate of $2.96 by $0.02. The firm had revenue of $400.60 million during the quarter, compared to analyst estimates of $399.58 million. Allegiant Travel had a return on equity of 37.66% and a net margin of 12.23%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the business posted $3.68 earnings per share. On average, analysts anticipate that Allegiant Travel Company will post $9.38 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.23%. Allegiant Travel’s payout ratio is currently 26.24%.

Allegiant Travel declared that its Board of Directors has approved a share buyback plan on Wednesday, July 26th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the transportation company to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

In other Allegiant Travel news, SVP Gregory Clark Anderson sold 1,500 shares of Allegiant Travel stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $142.08, for a total value of $213,120.00. Following the completion of the transaction, the senior vice president now directly owns 15,054 shares in the company, valued at $2,138,872.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 21.00% of the company’s stock.

A number of institutional investors have recently modified their holdings of ALGT. Neuburgh Advisers LLC increased its position in shares of Allegiant Travel by 10.0% in the first quarter. Neuburgh Advisers LLC now owns 748 shares of the transportation company’s stock worth $120,000 after buying an additional 68 shares during the last quarter. Bank of Montreal Can increased its position in shares of Allegiant Travel by 28.9% in the second quarter. Bank of Montreal Can now owns 829 shares of the transportation company’s stock worth $112,000 after buying an additional 186 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Allegiant Travel by 17.5% in the second quarter. Victory Capital Management Inc. now owns 853 shares of the transportation company’s stock worth $116,000 after buying an additional 127 shares during the last quarter. James Investment Research Inc. bought a new position in shares of Allegiant Travel during the first quarter worth approximately $140,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Allegiant Travel during the first quarter worth approximately $146,000. Institutional investors own 85.77% of the company’s stock.

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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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