Geneva Capital Management LLC Sells 8,167 Shares of Allegiant Travel (NASDAQ:ALGT)

Geneva Capital Management LLC decreased its stake in shares of Allegiant Travel (NASDAQ:ALGT) by 2.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 373,789 shares of the transportation company’s stock after selling 8,167 shares during the period. Allegiant Travel makes up 1.6% of Geneva Capital Management LLC’s investment portfolio, making the stock its 16th largest holding. Geneva Capital Management LLC owned approximately 2.28% of Allegiant Travel worth $91,227,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State of Michigan Retirement System bought a new stake in shares of Allegiant Travel during the 1st quarter valued at about $8,542,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Allegiant Travel by 55.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 513 shares of the transportation company’s stock valued at $125,000 after purchasing an additional 182 shares in the last quarter. CWM Advisors LLC boosted its stake in shares of Allegiant Travel by 3.2% during the 1st quarter. CWM Advisors LLC now owns 1,984 shares of the transportation company’s stock valued at $484,000 after purchasing an additional 62 shares in the last quarter. IFP Advisors Inc lifted its position in Allegiant Travel by 26.3% during the 1st quarter. IFP Advisors Inc now owns 442 shares of the transportation company’s stock valued at $107,000 after acquiring an additional 92 shares during the period. Finally, Meeder Asset Management Inc. lifted its position in Allegiant Travel by 47,025.0% during the 1st quarter. Meeder Asset Management Inc. now owns 5,655 shares of the transportation company’s stock valued at $1,381,000 after acquiring an additional 5,643 shares during the period. 86.10% of the stock is currently owned by hedge funds and other institutional investors.

Allegiant Travel stock traded down $2.72 during trading hours on Wednesday, hitting $221.41. The stock had a trading volume of 433 shares, compared to its average volume of 164,036. The company has a quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 1.99. The stock has a market capitalization of $3.63 billion, a P/E ratio of -37.17 and a beta of 1.71. Allegiant Travel has a 12-month low of $71.00 and a 12-month high of $271.29. The stock’s 50-day moving average price is $241.33 and its 200-day moving average price is $204.32.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Monday, May 3rd. The transportation company reported ($3.58) earnings per share for the quarter, missing the consensus estimate of ($3.10) by ($0.48). Allegiant Travel had a negative net margin of 7.86% and a negative return on equity of 8.83%. The company had revenue of $279.10 million for the quarter, compared to analysts’ expectations of $308.87 million. During the same period in the previous year, the firm earned $2.05 earnings per share. The firm’s revenue for the quarter was down 31.8% on a year-over-year basis. On average, research analysts expect that Allegiant Travel will post -10.54 EPS for the current fiscal year.

In other news, EVP Robert Paul Wilson III sold 160 shares of the business’s stock in a transaction that occurred on Friday, February 19th. The shares were sold at an average price of $243.84, for a total transaction of $39,014.40. Following the completion of the transaction, the executive vice president now directly owns 15,168 shares of the company’s stock, valued at $3,698,565.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.60% of the stock is owned by insiders.

A number of research analysts recently issued reports on ALGT shares. Morgan Stanley lifted their price target on shares of Allegiant Travel from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday. The Goldman Sachs Group lifted their price target on shares of Allegiant Travel from $156.00 to $278.00 and gave the company a “neutral” rating in a research report on Tuesday, March 16th. Wolfe Research raised shares of Allegiant Travel from an “underweight” rating to a “market weight” rating and lifted their price target for the company from $200.00 to $238.00 in a research report on Friday, March 5th. Raymond James lifted their price target on shares of Allegiant Travel from $230.00 to $290.00 and gave the company a “strong-buy” rating in a research report on Monday, April 19th. Finally, Barclays lifted their price target on shares of Allegiant Travel from $237.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, April 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $233.90.

Allegiant Travel 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 12, 2021, it operated a fleet of 97 Airbus A320 series aircraft.

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Institutional Ownership by Quarter for Allegiant Travel (NASDAQ:ALGT)

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