Allegiant Travel (NASDAQ:ALGT) CEO Maurice J. Gallagher, Jr. sold 47,920 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $147.77, for a total value of $7,081,138.40. Following the transaction, the chief executive officer now owns 2,929,920 shares of the company’s stock, valued at $432,954,278.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
ALGT stock opened at $142.36 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 1.62. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 14.24 and a beta of 0.92. Allegiant Travel has a 1 year low of $98.18 and a 1 year high of $165.00.
Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $3.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.88 by $0.10. The company 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 25.85% and a net margin of 9.67%. Allegiant Travel’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the company earned $3.42 EPS. Equities analysts forecast that Allegiant Travel will post 13.52 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Thursday, June 13th. Allegiant Travel’s dividend payout ratio is currently 28.00%.
A number of equities analysts recently commented on ALGT shares. ValuEngine cut Allegiant Travel from a “sell” rating to a “strong sell” rating in a report on Thursday, January 24th. Deutsche Bank set a $160.00 target price on Allegiant Travel and gave the company a “buy” rating in a report on Friday, March 1st. Citigroup raised their target price on Allegiant Travel to $167.00 and gave the company a “buy” rating in a report on Thursday, January 10th. Vertical Research started coverage on Allegiant Travel in a report on Monday, February 4th. They set a “buy” rating and a $165.00 target price for the company. Finally, Cowen restated a “market perform” rating and set a $147.00 target price (up from $130.00) on shares of Allegiant Travel in a report on Thursday, January 31st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $153.08.
A number of hedge funds have recently bought and sold shares of ALGT. Clearbridge Investments LLC raised its position in Allegiant Travel by 967,154.5% in the 3rd quarter. Clearbridge Investments LLC now owns 106,398 shares of the transportation company’s stock valued at $13,491,000 after purchasing an additional 106,387 shares in the last quarter. Wasatch Advisors Inc. raised its position in Allegiant Travel by 19.7% in the 1st quarter. Wasatch Advisors Inc. now owns 640,318 shares of the transportation company’s stock valued at $82,902,000 after purchasing an additional 105,173 shares in the last quarter. Assenagon Asset Management S.A. raised its position in 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 valued at $8,481,000 after purchasing an additional 77,034 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in Allegiant Travel by 14.7% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 597,208 shares of the transportation company’s stock valued at $59,852,000 after purchasing an additional 76,703 shares in the last quarter. Finally, Norges Bank acquired a new stake in Allegiant Travel in the 4th quarter valued at about $6,493,000. 80.54% of the stock is currently owned by institutional investors.
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.
Read More: Diversification in Investing