Gilder Gagnon Howe & Co. LLC Decreases Holdings in Allegiant Travel Company (ALGT)
Gilder Gagnon Howe & Co. LLC lowered its stake in shares of Allegiant Travel Company (NASDAQ:ALGT) by 2.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 108,497 shares of the transportation company’s stock after selling 2,418 shares during the period. Gilder Gagnon Howe & Co. LLC owned about 0.67% of Allegiant Travel worth $14,289,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of ALGT. Bank of Montreal Can boosted its stake in shares of Allegiant Travel by 28.9% during the 2nd quarter. Bank of Montreal Can now owns 829 shares of the transportation company’s stock valued at $112,000 after buying an additional 186 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Allegiant Travel by 17.5% during the 2nd quarter. Victory Capital Management Inc. now owns 853 shares of the transportation company’s stock valued at $116,000 after buying an additional 127 shares during the period. Riverhead Capital Management LLC boosted its stake in shares of Allegiant Travel by 119.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,099 shares of the transportation company’s stock valued at $149,000 after buying an additional 599 shares during the period. Flinton Capital Management LLC boosted its stake in shares of Allegiant Travel by 81.8% during the 2nd quarter. Flinton Capital Management LLC now owns 1,120 shares of the transportation company’s stock valued at $152,000 after buying an additional 504 shares during the period. Finally, D.A. Davidson & CO. boosted its stake in shares of Allegiant Travel by 2.0% during the 2nd quarter. D.A. Davidson & CO. now owns 1,176 shares of the transportation company’s stock valued at $159,000 after buying an additional 23 shares during the period. 84.74% of the stock is owned by institutional investors.
Shares of Allegiant Travel Company (ALGT) traded down $0.60 on Tuesday, reaching $127.10. 70,300 shares of the company traded hands, compared to its average volume of 138,450. The company has a market cap of $2,040.00, a P/E ratio of 13.72, a PEG ratio of 5.30 and a beta of 0.12. Allegiant Travel Company has a 12-month low of $111.54 and a 12-month high of $182.25. The company has a quick ratio of 1.01, a current ratio of 1.05 and a debt-to-equity ratio of 1.78.
Allegiant Travel (NASDAQ:ALGT) last announced its earnings results on Wednesday, October 25th. The transportation company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.31 by $0.08. The firm had revenue of $348.80 million for the quarter, compared to the consensus estimate of $349.79 million. Allegiant Travel had a net margin of 10.52% and a return on equity of 32.19%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.75 EPS. equities research analysts forecast that Allegiant Travel Company will post 8.52 EPS for the current year.
Allegiant Travel declared that its board has initiated a stock repurchase program on Wednesday, July 26th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the transportation company to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Wednesday, November 22nd will be issued a $0.70 dividend. The ex-dividend date is Tuesday, November 21st. This represents a $2.80 annualized dividend and a yield of 2.20%. Allegiant Travel’s dividend payout ratio (DPR) is presently 29.79%.
A number of equities research analysts have issued reports on the stock. Stifel Nicolaus reissued a “hold” rating and set a $135.00 target price on shares of Allegiant Travel in a research note on Thursday, October 26th. Cowen and Company reissued a “hold” rating and set a $145.00 target price on shares of Allegiant Travel in a research note on Tuesday, October 17th. Zacks Investment Research lowered shares of Allegiant Travel from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Bank of America Corporation reissued a “neutral” rating and set a $145.00 target price (down previously from $150.00) on shares of Allegiant Travel in a research note on Tuesday, October 10th. Finally, Citigroup Inc. decreased their target price on shares of Allegiant Travel from $175.00 to $168.00 and set a “buy” rating for the company in a research note on Tuesday, September 26th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $144.17.
In related news, CFO Scott Sheldon sold 5,872 shares of Allegiant Travel stock in a transaction on Friday, October 27th. The shares were sold at an average price of $137.63, for a total value of $808,163.36. Following the transaction, the chief financial officer now owns 21,202 shares in the company, valued at approximately $2,918,031.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President John Redmond bought 11,000 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was purchased at an average price of $138.28 per share, for a total transaction of $1,521,080.00. Following the acquisition, the president now directly owns 92,574 shares in the company, valued at $12,801,132.72. The disclosure for this purchase can be found here. Company insiders own 22.00% 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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