Capstone Asset Management Co. lowered its stake in shares of Allegiant Travel Company (NASDAQ:ALGT) by 6.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 2,483 shares of the transportation company’s stock after selling 160 shares during the period. Capstone Asset Management Co.’s holdings in Allegiant Travel were worth $337,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Neuburgh Advisers LLC increased its position in Allegiant Travel by 10.0% in the first quarter. Neuburgh Advisers LLC now owns 748 shares of the transportation company’s stock worth $120,000 after buying an additional 68 shares in the last quarter. James Investment Research Inc. purchased a new position in Allegiant Travel during the first quarter worth $140,000. Oppenheimer Asset Management Inc. purchased a new position in Allegiant Travel during the first quarter worth $146,000. Americafirst Capital Management LLC purchased a new position in Allegiant Travel during the first quarter worth $180,000. Finally, Ameritas Investment Partners Inc. purchased a new position in Allegiant Travel during the first quarter worth $183,000. 85.77% of the stock is currently owned by institutional investors.
Allegiant Travel Company (ALGT) traded down 1.10% on Friday, hitting $120.95. The stock had a trading volume of 44,740 shares. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 11.35 and a beta of -0.05. Allegiant Travel Company has a 52-week low of $120.35 and a 52-week high of $182.25. The company has a 50 day moving average price of $137.11 and a 200-day moving average price of $151.72.
Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Wednesday, July 26th. The transportation company reported $2.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.96 by $0.02. The business had revenue of $400.60 million during the quarter, compared to analyst estimates of $399.58 million. Allegiant Travel had a return on equity of 37.66% and a net margin of 12.23%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.68 EPS. On average, equities research analysts predict that Allegiant Travel Company will post $9.38 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, August 18th will be issued a $0.70 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.29%. Allegiant Travel’s payout ratio is 26.24%.
Allegiant Travel declared that its board has authorized a share repurchase program on Wednesday, July 26th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the transportation company to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
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A number of research analysts have weighed in on the company. BidaskClub downgraded Allegiant Travel from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Cowen and Company reissued a “market perform” rating and issued a $150.00 target price (down previously from $157.00) on shares of Allegiant Travel in a report on Thursday, July 27th. Imperial Capital reissued an “in-line” rating and issued a $155.00 target price (down previously from $170.00) on shares of Allegiant Travel in a report on Thursday, April 27th. Deutsche Bank AG reissued a “hold” rating and issued a $130.00 target price (down previously from $153.00) on shares of Allegiant Travel in a report on Thursday, July 27th. Finally, Bank of America Corporation downgraded Allegiant Travel from a “buy” rating to a “neutral” rating and lowered their target price for the company from $205.00 to $175.00 in a report on Wednesday, April 26th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $158.58.
In related news, SVP Gregory Clark Anderson sold 1,500 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $142.08, for a total value of $213,120.00. Following the completion of the transaction, the senior vice president now owns 15,054 shares of the company’s stock, valued at approximately $2,138,872.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 21.00% of the company’s stock.
About Allegiant Travel
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.
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