Allegiant Travel Company $ALGT Shares Newly Bought by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP purchased a new position in shares of Allegiant Travel Company (NASDAQ:ALGT) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 8,858 shares of the transportation company’s stock, valued at approximately $682,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new stake in Allegiant Travel in the 2nd quarter valued at about $26,232,000. Venture Visionary Partners LLC bought a new position in shares of Allegiant Travel during the 3rd quarter worth approximately $2,745,000. VELA Investment Management LLC bought a new position in shares of Allegiant Travel during the 2nd quarter worth approximately $4,461,000. BlackRock Inc. bought a new position in shares of Allegiant Travel during the 2nd quarter worth approximately $416,591,000. Finally, U S Global Investors Inc. boosted its stake in shares of Allegiant Travel by 10.6% in the 3rd quarter. U S Global Investors Inc. now owns 384,198 shares of the transportation company’s stock worth $29,118,000 after buying an additional 36,953 shares during the last quarter. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Allegiant Travel Stock Performance

Shares of ALGT stock opened at $92.51 on Friday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.80 and a current ratio of 0.85. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of 28.38, a P/E/G ratio of 0.28 and a beta of 1.65. Allegiant Travel Company has a 52 week low of $61.36 and a 52 week high of $123.63. The firm’s 50-day simple moving average is $77.18 and its two-hundred day simple moving average is $87.64.

Allegiant Travel (NASDAQ:ALGT) last released its earnings results on Wednesday, November 4th. The transportation company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.41. Allegiant Travel had a net margin of 1.65% and a return on equity of 11.95%. The firm had revenue of $961.56 million during the quarter, compared to the consensus estimate of $946.44 million. During the same period in the prior year, the firm earned ($2.09) EPS. The company’s revenue was up 71.2% compared to the same quarter last year. As a group, equities analysts forecast that Allegiant Travel Company will post 6.72 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Charles W. Pollard sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $93.04, for a total value of $930,400.00. Following the transaction, the director owned 16,000 shares in the company, valued at approximately $1,488,640. This represents a 38.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ALGT. Citigroup reaffirmed a “buy” rating on shares of Allegiant Travel in a report on Tuesday, October 6th. Barclays decreased their price target on Allegiant Travel from $145.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, September 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of Allegiant Travel in a report on Wednesday, November 4th. UBS Group boosted their price objective on Allegiant Travel from $107.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Susquehanna cut their price objective on Allegiant Travel from $110.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Allegiant Travel has a consensus rating of “Moderate Buy” and a consensus price target of $125.15.

Allegiant Travel Profile

Allegiant Travel Company is a leisure-focused travel company best known for operating Allegiant Air, a low-cost airline. The airline offers scheduled, nonstop flights connecting smaller and midsize U.S. cities with popular vacation destinations, along with optional services such as seat selection and baggage allowances. Allegiant’s route network is concentrated in the United States, with service tailored to leisure travelers and demand that can vary by season. The company also offers travel-related products, including hotel and rental-car bookings, to complement its flights.