Allegiant Travel (NASDAQ:ALGT) Lifted to “Hold” at ValuEngine
A number of other research analysts have also issued reports on ALGT. BidaskClub lowered shares of Allegiant Travel from a buy rating to a hold rating in a research report on Tuesday, June 18th. Morgan Stanley decreased their target price on shares of Allegiant Travel from $140.00 to $132.00 and set an equal weight rating on the stock in a research report on Monday, May 20th. Imperial Capital restated an outperform rating and set a $168.00 target price on shares of Allegiant Travel in a research report on Wednesday, March 20th. Macquarie upgraded shares of Allegiant Travel from a neutral rating to an outperform rating and set a $149.00 target price on the stock in a research report on Tuesday, March 26th. Finally, Zacks Investment Research lowered shares of Allegiant Travel from a buy rating to a hold rating in a research report on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of Hold and an average price target of $153.54.
Shares of NASDAQ:ALGT opened at $143.08 on Friday. The stock’s 50 day simple moving average is $141.73. Allegiant Travel has a 12-month low of $98.18 and a 12-month high of $148.80. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of 13.56 and a beta of 0.89. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.03 and a current ratio of 1.07.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Friday, June 14th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Thursday, June 13th. Allegiant Travel’s dividend payout ratio is presently 28.00%.
In related news, CEO Maurice J. Gallagher, Jr. sold 51,441 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $147.75, for a total value of $7,600,407.75. Following the sale, the chief executive officer now directly owns 2,929,920 shares of the company’s stock, valued at $432,895,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Maurice J. Gallagher, Jr. sold 47,920 shares of Allegiant Travel stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $147.77, for a total value of $7,081,138.40. Following the completion of the transaction, the chief executive officer now owns 2,929,920 shares in the company, valued at approximately $432,954,278.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,406 shares of company stock worth $15,564,673. Corporate insiders own 20.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Amundi Pioneer Asset Management Inc. bought a new position in shares of Allegiant Travel in the first quarter worth about $155,000. GYL Financial Synergies LLC bought a new stake in shares of Allegiant Travel during the 1st quarter valued at approximately $910,000. Anderson Fisher LLC increased its position in Allegiant Travel by 17.8% during the 1st quarter. Anderson Fisher LLC now owns 15,635 shares of the transportation company’s stock worth $2,024,000 after purchasing an additional 2,365 shares in the last quarter. U S Global Investors Inc. increased its position in Allegiant Travel by 78.4% during the 1st quarter. U S Global Investors Inc. now owns 51,020 shares of the transportation company’s stock worth $5,769,000 after purchasing an additional 22,429 shares in the last quarter. Finally, OppenheimerFunds Inc. lifted its stake in Allegiant Travel by 1.3% in the 1st quarter. OppenheimerFunds Inc. now owns 7,011 shares of the transportation company’s stock valued at $908,000 after purchasing an additional 89 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.
Allegiant Travel Company Profile
Allegiant Travel Company, a leisure travel company, provides travel services and products to residents of under-served cities in the United States. The company offers scheduled air transportation on limited-frequency, nonstop flights between under-served cities and leisure destinations. As of February 15, 2019, it operated a fleet of 79 Airbus A320 series aircraft.
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