Texas Permanent School Fund lifted its position in shares of Allegiant Travel (NASDAQ:ALGT) by 4.5% during the 1st quarter, HoldingsChannel reports. The fund owned 8,733 shares of the transportation company’s stock after purchasing an additional 379 shares during the period. Texas Permanent School Fund’s holdings in Allegiant Travel were worth $1,131,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. New Amsterdam Partners LLC NY bought a new position in shares of Allegiant Travel in the 1st quarter worth about $2,503,000. Comerica Bank raised its position in shares of Allegiant Travel by 2.7% in the 1st quarter. Comerica Bank now owns 12,778 shares of the transportation company’s stock worth $1,747,000 after acquiring an additional 337 shares in the last quarter. Rhumbline Advisers raised its position in shares of Allegiant Travel by 1.3% in the 1st quarter. Rhumbline Advisers now owns 38,324 shares of the transportation company’s stock worth $4,962,000 after acquiring an additional 485 shares in the last quarter. Fidelity National Financial Inc. bought a new position in shares of Allegiant Travel in the 1st quarter worth about $1,071,000. Finally, Janus Henderson Group PLC increased its position in Allegiant Travel by 0.7% in the 1st quarter. Janus Henderson Group PLC now owns 273,443 shares of the transportation company’s stock valued at $35,403,000 after buying an additional 1,904 shares in the last quarter. 80.30% of the stock is currently owned by institutional investors.
A number of brokerages recently commented on ALGT. BidaskClub raised Allegiant Travel from a “hold” rating to a “buy” rating in a research report on Tuesday, April 30th. Morgan Stanley decreased their target price on Allegiant Travel from $140.00 to $132.00 and set an “equal weight” rating for the company in a research report on Monday, May 20th. ValuEngine raised Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Thursday. Imperial Capital reaffirmed an “outperform” rating and issued a $180.00 target price (up from $162.00) on shares of Allegiant Travel in a research report on Friday, April 26th. Finally, Vertical Research began coverage on Allegiant Travel in a research report on Monday, February 4th. They issued a “buy” rating and a $165.00 target price for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $153.54.
Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Wednesday, April 24th. The transportation company reported $3.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.88 by $0.10. The business had revenue of $451.60 million during the quarter, compared to the consensus estimate of $452.24 million. Allegiant Travel had a return on equity of 25.13% and a net margin of 9.67%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.42 EPS. As a group, sell-side analysts forecast that Allegiant Travel will post 13.51 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, June 13th. This represents a $2.80 dividend on an annualized basis and a yield of 1.97%. Allegiant Travel’s dividend payout ratio (DPR) is currently 28.00%.
In other Allegiant Travel news, EVP Robert Paul Wilson III sold 1,823 shares of Allegiant Travel stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $141.28, for a total transaction of $257,553.44. Following the completion of the transaction, the executive vice president now owns 19,300 shares in the company, valued at approximately $2,726,704. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Maurice J. Gallagher, Jr. sold 51,441 shares of Allegiant Travel stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $147.75, for a total value of $7,600,407.75. Following the transaction, the chief executive officer now owns 2,929,920 shares of the company’s stock, valued at approximately $432,895,680. The disclosure for this sale can be found here. Insiders have sold a total of 111,921 shares of company stock valued at $16,310,422 in the last quarter. Company insiders own 20.80% of the company’s stock.
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Allegiant Travel Company Profile
Allegiant Travel Company, a leisure travel company, provides 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. As of February 15, 2019, it operated a fleet of 79 Airbus A320 series aircraft.
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