GYL Financial Synergies LLC acquired a new stake in Allegiant Travel (NASDAQ:ALGT) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 7,030 shares of the transportation company’s stock, valued at approximately $910,000.
Several other institutional investors have also made changes to their positions in the company. Comerica Bank boosted its stake in shares of Allegiant Travel by 0.6% in the 4th quarter. Comerica Bank now owns 12,441 shares of the transportation company’s stock valued at $1,555,000 after purchasing an additional 76 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Allegiant Travel by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 4,943 shares of the transportation company’s stock valued at $640,000 after purchasing an additional 89 shares in the last quarter. OppenheimerFunds Inc. raised its holdings in Allegiant Travel by 1.3% during the 1st quarter. OppenheimerFunds Inc. now owns 7,011 shares of the transportation company’s stock valued at $908,000 after buying an additional 89 shares during the last quarter. Citigroup Inc. raised its holdings in Allegiant Travel by 5.9% during the 1st quarter. Citigroup Inc. now owns 1,734 shares of the transportation company’s stock valued at $224,000 after buying an additional 96 shares during the last quarter. Finally, Piedmont Investment Advisors Inc. raised its holdings in Allegiant Travel by 3.3% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 3,040 shares of the transportation company’s stock valued at $305,000 after buying an additional 97 shares during the last quarter. 79.78% of the stock is owned by institutional investors.
NASDAQ:ALGT traded down $2.28 during midday trading on Friday, reaching $143.69. 8,772 shares of the stock traded hands, compared to its average volume of 108,099. Allegiant Travel has a 12 month low of $98.18 and a 12 month high of $150.40. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $2.38 billion, a P/E ratio of 14.37 and a beta of 0.92.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be issued a $0.70 dividend. The ex-dividend date is Thursday, June 13th. This represents a $2.80 annualized dividend and a yield of 1.95%. Allegiant Travel’s dividend payout ratio (DPR) is presently 28.00%.
A number of research firms recently commented on ALGT. BidaskClub lowered shares of Allegiant Travel from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Morgan Stanley lowered their price target on shares of Allegiant Travel from $140.00 to $132.00 and set an “equal weight” rating for the company in a report on Monday, May 20th. ValuEngine upgraded shares of Allegiant Travel from a “strong sell” rating to a “sell” rating in a report on Tuesday, April 9th. Imperial Capital reiterated an “outperform” rating and set a $168.00 price target on shares of Allegiant Travel in a report on Wednesday, March 20th. Finally, Macquarie upgraded shares of Allegiant Travel from a “neutral” rating to an “outperform” rating and set a $149.00 price target for the company in a report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $153.54.
In other Allegiant Travel news, CEO Maurice J. Gallagher, Jr. sold 51,441 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 2,929,920 shares in the company, valued at approximately $432,895,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary Ellmer sold 1,000 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $124.50, for a total transaction of $124,500.00. Following the completion of the transaction, the director now owns 2,000 shares of the company’s stock, valued at $249,000. The disclosure for this sale can be found here. Insiders sold a total of 102,184 shares of company stock valued at $15,063,600 over the last 90 days. 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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