Key Points
- Director Charles Pollard sold 10,000 Allegiant Travel shares for $930,400 at an average price of $93.04, reducing his direct stake by 38.46% to 16,000 shares.
- Allegiant reported quarterly EPS of -$0.03, beating the -$0.44 consensus estimate, while revenue of $961.56 million exceeded expectations and rose 71.2% year over year.
- Analysts have a consensus “Moderate Buy” rating on the stock, with an average price target of $124.15.
Allegiant Travel Company (NASDAQ:ALGT - Get Free Report) Director Charles Pollard sold 10,000 shares of the business's stock in a transaction on Friday, November 6th. The shares were sold at an average price of $93.04, for a total transaction of $930,400.00. Following the transaction, the director directly owned 16,000 shares of the company's stock, valued at approximately $1,488,640. This trade represents a 38.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Allegiant Travel Price Performance
Shares of Allegiant Travel stock opened at $91.97 on Friday. The firm's 50-day simple moving average is $75.62 and its 200-day simple moving average is $87.52. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.80 and a current ratio of 0.83. Allegiant Travel Company has a twelve month low of $61.36 and a twelve month high of $123.63. The firm has a market cap of $2.51 billion, a P/E ratio of 28.21, a price-to-earnings-growth ratio of 0.27 and a beta of 1.65.
Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The transportation company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.44) by $0.41. Allegiant Travel had a net margin of 0.90% and a return on equity of 10.83%. The company had revenue of $961.56 million for the quarter, compared to the consensus estimate of $946.44 million. During the same period last year, the company earned ($2.09) earnings per share. The firm's revenue was up 71.2% compared to the same quarter last year. As a group, research analysts expect that Allegiant Travel Company will post 5.59 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have issued reports on ALGT shares. Wall Street Zen downgraded Allegiant Travel from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Barclays dropped their price target on shares of Allegiant Travel from $145.00 to $115.00 and set an "overweight" rating for the company in a research note on Friday, September 11th. Citigroup reissued a "buy" rating on shares of Allegiant Travel in a report on Tuesday, October 6th. Weiss Ratings upgraded shares of Allegiant Travel from a "sell (d-)" rating to a "sell (d)" rating in a report on Tuesday, August 11th. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $120.00 price objective on shares of Allegiant Travel in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $124.15.
Get Our Latest Stock Report on ALGT
Hedge Funds Weigh In On Allegiant Travel
Several hedge funds have recently modified their holdings of ALGT. Farther Finance Advisors LLC grew its holdings in shares of Allegiant Travel by 40.4% during the third quarter. Farther Finance Advisors LLC now owns 584 shares of the transportation company's stock worth $44,000 after purchasing an additional 168 shares in the last quarter. Global Retirement Partners LLC purchased a new position in Allegiant Travel during the 2nd quarter worth $26,000. Allworth Financial LP purchased a new stake in shares of Allegiant Travel during the second quarter worth about $26,000. Yousif Capital Management LLC raised its position in Allegiant Travel by 4.7% during the third quarter. Yousif Capital Management LLC now owns 6,290 shares of the transportation company's stock worth $477,000 after acquiring an additional 285 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Allegiant Travel in the second quarter valued at $42,000. Institutional investors own 85.81% of the company's stock.
About Allegiant Travel
(
Get Free Report)
Allegiant Travel Company is a leisure-focused travel company headquartered in Las Vegas, Nevada. Its principal operating subsidiary, Allegiant Air, is a low-cost airline that provides scheduled and charter passenger service, primarily connecting smaller and mid-sized U.S. cities with popular vacation destinations.
Allegiant Air's business model emphasizes nonstop routes, low base fares and optional services such as seat selection, baggage, priority boarding and other travel-related amenities.
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