Allegiant Travel (NASDAQ:ALGT) saw a significant increase in short interest in July. As of July 31st, there was short interest totalling 943,200 shares, an increase of 21.6% from the June 30th total of 775,700 shares. Based on an average daily trading volume, of 149,700 shares, the short-interest ratio is presently 6.3 days. Currently, 7.4% of the company’s stock are short sold.

In related news, CEO Maurice J. Gallagher, Jr. sold 10,778 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $148.17, for a total value of $1,596,976.26. Following the completion of the transaction, the chief executive officer now owns 2,910,176 shares in the company, valued at approximately $431,200,777.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Maurice J. Gallagher, Jr. sold 40,731 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $154.40, for a total transaction of $6,288,866.40. Following the completion of the transaction, the chief executive officer now owns 2,889,421 shares of the company’s stock, valued at approximately $446,126,602.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 77,000 shares of company stock worth $11,713,663. Corporate insiders own 20.90% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Commerce Bank boosted its stake in Allegiant Travel by 14.5% in the 1st quarter. Commerce Bank now owns 3,672 shares of the transportation company’s stock worth $475,000 after purchasing an additional 464 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in Allegiant Travel by 5.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,051 shares of the transportation company’s stock worth $395,000 after purchasing an additional 157 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Allegiant Travel in the 1st quarter worth $258,000. Nisa Investment Advisors LLC boosted its stake in Allegiant Travel by 49.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 9,910 shares of the transportation company’s stock worth $1,283,000 after purchasing an additional 3,300 shares during the period. Finally, U S Global Investors Inc. boosted its stake in Allegiant Travel by 78.4% in 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 during the period. Institutional investors and hedge funds own 79.32% of the company’s stock.

ALGT opened at $142.00 on Thursday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.24 and a current ratio of 1.29. Allegiant Travel has a 12 month low of $98.18 and a 12 month high of $157.50. The company has a fifty day moving average price of $146.37. The company has a market cap of $2.35 billion, a PE ratio of 12.20 and a beta of 0.89.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Wednesday, July 24th. The transportation company reported $4.33 EPS for the quarter, missing the Zacks’ consensus estimate of $4.67 by ($0.34). Allegiant Travel had a net margin of 10.54% and a return on equity of 26.59%. The firm had revenue of $491.80 million during the quarter, compared to the consensus estimate of $504.81 million. During the same quarter in the prior year, the company earned $3.10 EPS. Allegiant Travel’s quarterly revenue was up 12.6% on a year-over-year basis. On average, research analysts predict that Allegiant Travel will post 13.68 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 20th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Thursday, September 19th. Allegiant Travel’s dividend payout ratio is currently 28.00%.

Several brokerages have commented on ALGT. Imperial Capital reiterated an “outperform” rating and set a $180.00 target price (up previously from $162.00) on shares of Allegiant Travel in a research report on Friday, April 26th. Sidoti upped their target price on shares of Allegiant Travel from $178.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Morgan Stanley upped their target price on shares of Allegiant Travel from $132.00 to $150.00 and gave the company an “equal weight” rating in a research report on Wednesday. ValuEngine cut shares of Allegiant Travel from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Buckingham Research upped their target price on shares of Allegiant Travel from $186.00 to $191.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $164.00.

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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