Royal London Asset Management Ltd. grew its holdings in shares of Allegiant Travel (NASDAQ:ALGT) by 7.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 66,634 shares of the transportation company’s stock after buying an additional 4,476 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Allegiant Travel were worth $9,565,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Huntington National Bank grew its stake in Allegiant Travel by 19,900.0% in the first quarter. Huntington National Bank now owns 200 shares of the transportation company’s stock worth $26,000 after purchasing an additional 199 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in Allegiant Travel during the 1st quarter valued at $155,000. WINTON GROUP Ltd bought a new stake in Allegiant Travel during the 2nd quarter valued at $211,000. Westside Investment Management Inc. bought a new stake in Allegiant Travel during the 2nd quarter valued at $251,000. Finally, Oppenheimer Asset Management Inc. boosted its position in Allegiant Travel by 19.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 1,949 shares of the transportation company’s stock valued at $252,000 after acquiring an additional 320 shares in the last quarter. 79.32% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have issued reports on the company. Citigroup increased their target price on Allegiant Travel from $180.00 to $182.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Imperial Capital reaffirmed 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. Morgan Stanley increased their target price on Allegiant Travel from $132.00 to $150.00 and gave the company an “equal weight” rating in a research report on Wednesday. ValuEngine cut Allegiant Travel from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Buckingham Research increased their target price on Allegiant Travel from $186.00 to $191.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $164.00.
Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings data on Wednesday, July 24th. The transportation company reported $4.33 EPS for the quarter, missing the 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 business had revenue of $491.80 million for the quarter, compared to analysts’ expectations of $504.81 million. During the same quarter in the prior year, the company posted $3.10 EPS. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, research analysts expect that Allegiant Travel will post 13.68 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 20th will be issued a dividend of $0.70 per share. The ex-dividend date is Thursday, September 19th. This represents a $2.80 annualized dividend and a dividend yield of 1.97%. Allegiant Travel’s dividend payout ratio is presently 28.00%.
In related news, EVP Robert Paul Wilson III sold 1,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $144.83, for a total value of $144,830.00. Following the completion of the transaction, the executive vice president now owns 16,477 shares in the company, valued at approximately $2,386,363.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Maurice J. Gallagher, Jr. sold 4,222 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $148.17, for a total value of $625,573.74. Following the completion of the transaction, the chief executive officer now owns 2,920,954 shares of the company’s stock, valued at approximately $432,797,754.18. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,000 shares of company stock valued at $11,713,663. Company insiders own 20.90% of the company’s stock.
About Allegiant Travel
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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