Key Points
- Allegiant Travel CEO Gregory Anderson sold 2,640 shares for about $245,309, reducing his stake by 2.18%; he retained 118,209 shares.
- The company reported quarterly EPS of a loss of $0.03, beating the consensus estimate of a $0.44 loss, while revenue rose 71.2% year over year to $961.56 million.
- Analysts’ consensus rating was “Moderate Buy”, with an average price target of $125.15; shares were trading at $92.15, down 0.4% that day.
Allegiant Travel Company (NASDAQ:ALGT - Get Free Report) CEO Gregory Anderson sold 2,640 shares of the business's stock in a transaction on Thursday, November 12th. The shares were sold at an average price of $92.92, for a total transaction of $245,308.80. Following the sale, the chief executive officer owned 118,209 shares in the company, valued at approximately $10,983,980.28. This trade represents a 2.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.
Allegiant Travel Stock Down 0.4%
Shares of NASDAQ:ALGT traded down $0.36 during midday trading on Friday, reaching $92.15. The company's stock had a trading volume of 325,435 shares, compared to its average volume of 560,929. The firm has a 50 day moving average of $77.51 and a 200-day moving average of $87.68. The firm has a market capitalization of $2.52 billion, a P/E ratio of 28.27, a PEG ratio of 0.27 and a beta of 1.65. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 1.45. Allegiant Travel Company has a 12-month low of $61.36 and a 12-month high of $123.63.
Allegiant Travel (NASDAQ:ALGT - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The transportation company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.41. Allegiant Travel had a net margin of 1.65% and a return on equity of 11.95%. The company had revenue of $961.56 million during the quarter, compared to analyst estimates of $946.44 million. During the same period last year, the business earned ($2.09) EPS. Allegiant Travel's quarterly revenue was up 71.2% compared to the same quarter last year. On average, research analysts anticipate that Allegiant Travel Company will post 6.72 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the stock. Zacks Research cut shares of Allegiant Travel from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 15th. Wall Street Zen lowered shares of Allegiant Travel from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. UBS Group boosted their price target on Allegiant Travel from $107.00 to $120.00 and gave the stock a "buy" rating in a research report on Thursday. Barclays dropped their price target on Allegiant Travel from $145.00 to $115.00 and set an "overweight" rating on the stock in a research report on Friday, September 11th. Finally, Citigroup restated a "buy" rating on shares of Allegiant Travel in a research note on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Allegiant Travel presently has a consensus rating of "Moderate Buy" and a consensus price target of $125.15.
Check Out Our Latest Report on ALGT
Hedge Funds Weigh In On Allegiant Travel
Several large investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Allegiant Travel in the 2nd quarter worth about $416,591,000. Donald Smith & CO. Inc. bought a new position in Allegiant Travel in the 2nd quarter worth about $175,636,000. Bank of New York Mellon Corp purchased a new stake in Allegiant Travel during the 2nd quarter valued at about $33,013,000. U S Global Investors Inc. grew its position in Allegiant Travel by 10.6% during the 3rd quarter. U S Global Investors Inc. now owns 384,198 shares of the transportation company's stock valued at $29,118,000 after purchasing an additional 36,953 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in Allegiant Travel during the 2nd quarter valued at about $26,232,000. Hedge funds and other 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 best known for operating Allegiant Air, a low-cost airline. The airline offers scheduled, nonstop flights connecting smaller and midsize U.S. cities with popular vacation destinations, along with optional services such as seat selection and baggage allowances. Allegiant's route network is concentrated in the United States, with service tailored to leisure travelers and demand that can vary by season. The company also offers travel-related products, including hotel and rental-car bookings, to complement its flights.
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