California Public Employees Retirement System cut its holdings in Allegiant Travel (NASDAQ:ALGT) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,247 shares of the transportation company’s stock after selling 554 shares during the quarter. California Public Employees Retirement System’s holdings in Allegiant Travel were worth $4,371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Allegiant Travel by 47.0% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,258 shares of the transportation company’s stock worth $166,000 after purchasing an additional 402 shares during the last quarter. Shelton Capital Management bought a new stake in Allegiant Travel during the 4th quarter valued at approximately $202,000. Teacher Retirement System of Texas bought a new stake in Allegiant Travel during the 4th quarter valued at approximately $216,000. McKinley Carter Wealth Services Inc. bought a new stake in Allegiant Travel during the 4th quarter valued at approximately $233,000. Finally, Crossmark Global Holdings Inc. bought a new stake in Allegiant Travel during the 3rd quarter valued at approximately $351,000. 90.91% of the stock is currently owned by institutional investors.
ALGT has been the topic of several research reports. Deutsche Bank raised Allegiant Travel from a “hold” rating to a “buy” rating and lifted their price objective for the company from $130.00 to $180.00 in a research report on Thursday, December 21st. Bank of America raised Allegiant Travel from a “neutral” rating to a “buy” rating and set a $145.00 price objective on the stock in a research report on Tuesday, January 9th. BidaskClub raised Allegiant Travel from a “hold” rating to a “buy” rating in a research report on Thursday, February 15th. Stifel Nicolaus reaffirmed a “hold” rating and set a $150.00 price objective (up from $135.00) on shares of Allegiant Travel in a research report on Wednesday, January 10th. Finally, ValuEngine raised Allegiant Travel from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. Allegiant Travel currently has an average rating of “Hold” and an average price target of $164.64.
Shares of Allegiant Travel (NASDAQ ALGT) opened at $174.95 on Thursday. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.98 and a quick ratio of 0.95. Allegiant Travel has a 12-month low of $111.54 and a 12-month high of $181.45. The company has a market capitalization of $2,850.00, a P/E ratio of 23.26, a PEG ratio of 0.56 and a beta of 0.14.
Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Wednesday, January 31st. The transportation company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.93. The company had revenue of $378.56 million during the quarter, compared to analyst estimates of $377.25 million. Allegiant Travel had a net margin of 12.96% and a return on equity of 31.47%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.48 EPS. research analysts predict that Allegiant Travel will post 10.93 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, March 2nd will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $2.80 dividend on an annualized basis and a yield of 1.60%. Allegiant Travel’s dividend payout ratio is presently 37.23%.
In other Allegiant Travel news, SVP Gregory Clark Anderson sold 1,650 shares of the business’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $178.25, for a total transaction of $294,112.50. Following the completion of the sale, the senior vice president now directly owns 15,935 shares in the company, valued at approximately $2,840,413.75. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Maurice J. Gallagher, Jr. sold 16,018 shares of the business’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $155.82, for a total transaction of $2,495,924.76. Following the sale, the chief executive officer now owns 3,144,674 shares of the company’s stock, valued at $490,003,102.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 302,111 shares of company stock valued at $49,975,376. Company insiders own 22.00% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Allegiant Travel (ALGT) Position Lessened by California Public Employees Retirement System” was published by The Lincolnian Online and is owned by of The Lincolnian Online. If you are viewing this piece on another website, it was copied illegally and republished in violation of United States and international trademark & copyright law. The original version of this piece can be accessed at https://www.thelincolnianonline.com/2018/03/15/allegiant-travel-algt-position-lessened-by-california-public-employees-retirement-system.html.
Allegiant Travel Profile
Allegiant Travel Company is a leisure travel company. The Company is focused on providing travel services and products to residents of under-served cities in the United States. It also provides air transportation under fixed fee flying arrangements. The Company’s products and services include scheduled service air transportation, air-related ancillary products and services, third-party ancillary products and services and fixed fee contract air transportation.
Want to see what other hedge funds are holding ALGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allegiant Travel (NASDAQ:ALGT).
Receive News & Ratings for Allegiant Travel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegiant Travel and related companies with MarketBeat.com's FREE daily email newsletter.