Capital Fund Management S.A. reduced its position in shares of Allegiant Travel Co. (NASDAQ:ALGT) by 28.6% during the second quarter, Holdings Channel reports. The firm owned 19,047 shares of the company’s stock after selling 7,619 shares during the period. Capital Fund Management S.A.’s holdings in Allegiant Travel were worth $2,886,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. increased its position in shares of Allegiant Travel by 157.9% in the first quarter. BlackRock Inc. now owns 820 shares of the company’s stock worth $146,000 after buying an additional 502 shares during the period. Bank of Montreal Can acquired a new position in shares of Allegiant Travel during the second quarter worth about $151,000. Parametrica Management Ltd acquired a new position in shares of Allegiant Travel during the second quarter worth about $266,000. Parkwood LLC acquired a new position in shares of Allegiant Travel during the second quarter worth about $293,000. Finally, Adams Diversified Equity Fund Inc. acquired a new position in shares of Allegiant Travel during the second quarter worth about $318,000. Hedge funds and other institutional investors own 79.35% of the company’s stock.
Shares of Allegiant Travel Co. (NASDAQ:ALGT) traded up 3.33% during mid-day trading on Tuesday, reaching $140.19. The company had a trading volume of 145,258 shares. Allegiant Travel Co. has a one year low of $121.70 and a one year high of $228.79. The firm has a 50 day moving average of $134.73 and a 200-day moving average of $146.84. The stock has a market capitalization of $2.30 billion, a P/E ratio of 9.99 and a beta of -0.09.
Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Friday, July 29th. The company reported $3.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.55 by $0.13. The business earned $344.90 million during the quarter, compared to analysts’ expectations of $343.11 million. Allegiant Travel had a return on equity of 64.40% and a net margin of 17.94%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.18 earnings per share. Analysts forecast that Allegiant Travel Co. will post $13.13 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Friday, August 19th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Wednesday, August 17th. Allegiant Travel’s payout ratio is 20.04%.
A number of brokerages have issued reports on ALGT. Zacks Investment Research downgraded Allegiant Travel from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 24th. Raymond James Financial Inc. upgraded Allegiant Travel from a “market perform” rating to an “outperform” rating and set a $190.00 price objective for the company in a research note on Tuesday, June 14th. Stifel Nicolaus reduced their price objective on Allegiant Travel from $200.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, August 3rd. Buckingham Research upgraded Allegiant Travel from a “neutral” rating to a “buy” rating and set a $168.00 price objective for the company in a research note on Friday, September 23rd. Finally, Cowen and Company reduced their price objective on Allegiant Travel from $165.00 to $147.00 and set a “market perform” rating for the company in a research note on Monday, August 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $179.18.
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. Its products and services include scheduled service air transportation, air-related ancillary products and services, third-party ancillary products and services, fixed fee contract air transportation and other revenue.
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