Millennium Management LLC decreased its position in shares of Allegiant Air (NASDAQ:ALGT) by 81.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,769 shares of the transportation company’s stock after selling 12,460 shares during the period. Millennium Management LLC’s holdings in Allegiant Air were worth $429,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Shelton Capital Management acquired a new position in shares of Allegiant Air during the fourth quarter valued at about $202,000. Teacher Retirement System of Texas acquired a new position in shares of Allegiant Air during the fourth quarter valued at about $216,000. McKinley Carter Wealth Services Inc. acquired a new position in shares of Allegiant Air during the fourth quarter valued at about $233,000. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Allegiant Air by 36.0% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,711 shares of the transportation company’s stock valued at $265,000 after buying an additional 453 shares during the last quarter. Finally, Leucadia National Corp acquired a new position in shares of Allegiant Air during the fourth quarter valued at about $307,000. 91.19% of the stock is owned by hedge funds and other institutional investors.
Allegiant Air opened at $160.75 on Friday, Marketbeat reports. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.92 and a quick ratio of 0.89. The stock has a market capitalization of $2.60 billion, a P/E ratio of 15.39, a price-to-earnings-growth ratio of 0.46 and a beta of 0.08. Allegiant Air has a 12-month low of $158.10 and a 12-month high of $159.50.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Friday, May 18th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, May 17th. This represents a $2.80 annualized dividend and a yield of 1.74%. Allegiant Air’s dividend payout ratio is 29.32%.
Several research firms recently issued reports on ALGT. ValuEngine raised shares of Allegiant Air from a “hold” rating to a “buy” rating in a research report on Tuesday, May 1st. Stifel Nicolaus dropped their price target on shares of Allegiant Air from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, April 26th. Buckingham Research raised shares of Allegiant Air from a “neutral” rating to a “buy” rating and increased their price target for the stock from $111.54 to $172.92 in a research report on Thursday, April 26th. Zacks Investment Research raised shares of Allegiant Air from a “sell” rating to a “hold” rating in a research report on Wednesday, April 18th. Finally, Morgan Stanley dropped their price target on shares of Allegiant Air from $171.00 to $169.00 and set an “equal weight” rating for the company in a research report on Thursday, April 12th. One investment 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. The stock has an average rating of “Hold” and a consensus price target of $163.41.
In other Allegiant Air news, CEO Maurice J. Gallagher, Jr. sold 12,645 shares of the company’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $163.40, for a total transaction of $2,066,193.00. Following the sale, the chief executive officer now directly owns 2,977,169 shares of the company’s stock, valued at $486,469,414.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Gregory Clark Anderson sold 1,650 shares of the company’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $178.25, for a total transaction of $294,112.50. Following the sale, the senior vice president now directly owns 15,935 shares in the company, valued at $2,840,413.75. The disclosure for this sale can be found here. Insiders have sold 18,957 shares of company stock worth $3,106,935 over the last ninety days. Insiders own 21.00% of the company’s stock.
About Allegiant Air
Allegiant Travel Company, a leisure travel company, focuses on the provision of 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.
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