Arizona State Retirement System increased its stake in shares of Allegiant Travel (NASDAQ:ALGT) by 6.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 19,660 shares of the transportation company’s stock after buying an additional 1,136 shares during the quarter. Arizona State Retirement System’s holdings in Allegiant Travel were worth $1,970,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. Quantamental Technologies LLC bought a new position in shares of Allegiant Travel in the 4th quarter worth about $199,000. Assenagon Asset Management S.A. raised its position in shares of Allegiant Travel by 1,015.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 84,620 shares of the transportation company’s stock worth $8,481,000 after acquiring an additional 77,034 shares in the last quarter. IFP Advisors Inc raised its position in shares of Allegiant Travel by 100.0% in the 4th quarter. IFP Advisors Inc now owns 300 shares of the transportation company’s stock worth $30,000 after acquiring an additional 150 shares in the last quarter. Bank of Montreal Can raised its position in shares of Allegiant Travel by 3.7% in the 4th quarter. Bank of Montreal Can now owns 3,892 shares of the transportation company’s stock worth $389,000 after acquiring an additional 138 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Allegiant Travel by 1.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,610 shares of the transportation company’s stock worth $662,000 after acquiring an additional 100 shares in the last quarter. 89.65% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on ALGT shares. ValuEngine lowered Allegiant Travel from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 24th. Zacks Investment Research raised Allegiant Travel from a “hold” rating to a “buy” rating and set a $117.00 price objective for the company in a research report on Monday, December 31st. Citigroup lifted their price objective on Allegiant Travel from $165.00 to $167.00 and gave the stock a “buy” rating in a research report on Thursday, November 29th. BidaskClub raised Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Saturday, January 5th. Finally, Vertical Research started coverage on Allegiant Travel in a research report on Monday, February 4th. They issued a “buy” rating and a $165.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $149.83.
Shares of ALGT opened at $138.15 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.53 and a quick ratio of 0.50. The stock has a market capitalization of $2.19 billion, a PE ratio of 13.82, a PEG ratio of 0.43 and a beta of 0.91. Allegiant Travel has a one year low of $98.18 and a one year high of $181.45.
Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Wednesday, January 30th. The transportation company reported $2.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.47 by $0.09. The company had revenue of $412.11 million during the quarter, compared to the consensus estimate of $410.69 million. Allegiant Travel had a return on equity of 25.58% and a net margin of 9.70%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the business posted $5.18 EPS. On average, sell-side analysts forecast that Allegiant Travel will post 13.88 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Stockholders of record on Friday, March 1st will be paid a $0.70 dividend. The ex-dividend date is Thursday, February 28th. This represents a $2.80 annualized dividend and a dividend yield of 2.03%. Allegiant Travel’s dividend payout ratio is presently 28.00%.
In other news, EVP Robert Paul Wilson III sold 486 shares of the firm’s stock in a transaction dated Thursday, December 20th. The stock was sold at an average price of $111.98, for a total value of $54,422.28. Following the completion of the sale, the executive vice president now directly owns 17,330 shares in the company, valued at approximately $1,940,613.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 20.80% of the company’s stock.
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About Allegiant Travel
Allegiant Travel Company, a leisure travel company, focuses on the provision of 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.
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