Insider Selling: Allegiant Travel (NASDAQ:ALGT) CEO Sells $2,912,316.66 in Stock

Allegiant Travel (NASDAQ:ALGT) CEO Maurice J. Gallagher, Jr. sold 19,269 shares of Allegiant Travel stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $151.14, for a total value of $2,912,316.66. Following the completion of the transaction, the chief executive officer now owns 2,901,373 shares in the company, valued at approximately $438,513,515.22. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of ALGT stock opened at $143.89 on Friday. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 14.39 and a beta of 0.89. Allegiant Travel has a twelve month low of $98.18 and a twelve month high of $152.00. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.07 and a quick ratio of 1.03. The stock’s fifty day moving average price is $142.73.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings data on Wednesday, April 24th. The transportation company reported $3.98 earnings per share for the quarter, topping analysts’ consensus estimates of $3.88 by $0.10. The business had revenue of $451.60 million for the quarter, compared to analyst estimates of $452.24 million. Allegiant Travel had a return on equity of 25.13% and a net margin of 9.67%. Allegiant Travel’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.42 EPS. On average, sell-side analysts anticipate that Allegiant Travel will post 13.73 earnings per share for the current fiscal year.



The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $2.80 dividend on an annualized basis and a yield of 1.95%. Allegiant Travel’s dividend payout ratio is currently 28.00%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Huntington National Bank grew its position in shares of Allegiant Travel by 19,900.0% in the 1st quarter. Huntington National Bank now owns 200 shares of the transportation company’s stock valued at $26,000 after buying an additional 199 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Allegiant Travel by 45.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 541 shares of the transportation company’s stock valued at $54,000 after buying an additional 168 shares during the last quarter. CSat Investment Advisory L.P. grew its position in shares of Allegiant Travel by 29.8% in the 4th quarter. CSat Investment Advisory L.P. now owns 566 shares of the transportation company’s stock valued at $57,000 after buying an additional 130 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Allegiant Travel in the 1st quarter valued at about $155,000. Finally, Citigroup Inc. grew its position in shares of Allegiant Travel by 780.6% in the 4th quarter. Citigroup Inc. now owns 1,638 shares of the transportation company’s stock valued at $164,000 after buying an additional 1,452 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Several brokerages have recently issued reports on ALGT. Morgan Stanley lifted their price target on United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Zacks Investment Research lowered GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 2nd. Imperial Capital reiterated an “outperform” rating and issued a $78.00 price target (down previously from $83.00) on shares of Spirit Airlines in a research note on Friday, April 26th. ValuEngine lowered Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Citigroup lowered Apergy from a “buy” rating to a “neutral” rating and decreased their price target for the company from $41.00 to $34.00 in a research note on Tuesday, July 9th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $160.42.

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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Insider Buying and Selling by Quarter for Allegiant Travel (NASDAQ:ALGT)

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