Allegiant Travel (NASDAQ:ALGT) Stock: Insider Gregory Clark Anderson Sells 2,640 Shares

Allegiant Travel Company (NASDAQ:ALGT) CEO Gregory Anderson sold 2,640 shares of the stock in a transaction that occurred on Thursday, November 12th. The stock was sold at an average price of $92.92, for a total value of $245,308.80. Following the completion of the sale, the chief executive officer directly owned 118,209 shares of the company’s stock, valued at approximately $10,983,980.28. This trade represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Allegiant Travel Stock Down 0.4%

Shares of ALGT stock traded down $0.36 during trading hours on Friday, reaching $92.15. The company had a trading volume of 325,435 shares, compared to its average volume of 560,929. Allegiant Travel Company has a 12 month low of $61.36 and a 12 month high of $123.63. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.85 and a quick ratio of 0.80. The business has a fifty day simple moving average of $77.51 and a 200-day simple moving average of $87.68. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 28.27, a price-to-earnings-growth ratio of 0.27 and a beta of 1.65.

Allegiant Travel (NASDAQ:ALGT) last announced its earnings results on Wednesday, November 4th. The transportation company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.41. The company had revenue of $961.56 million for the quarter, compared to analysts’ expectations of $946.44 million. Allegiant Travel had a return on equity of 11.95% and a net margin of 1.65%. Allegiant Travel’s quarterly revenue was up 71.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($2.09) earnings per share. On average, research analysts expect that Allegiant Travel Company will post 6.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ALGT shares. Zacks Research lowered shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 15th. Barclays dropped their price target on shares of Allegiant Travel from $145.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, September 11th. Wall Street Zen cut shares of Allegiant Travel from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Citigroup reiterated a “buy” rating on shares of Allegiant Travel in a research note on Tuesday, October 6th. Finally, Susquehanna cut their target price on Allegiant Travel from $110.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.15.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ALGT. Empowered Funds LLC lifted its holdings in Allegiant Travel by 20.0% during the third quarter. Empowered Funds LLC now owns 129,655 shares of the transportation company’s stock valued at $9,827,000 after purchasing an additional 21,570 shares during the last quarter. Polymer Capital Management US LLC boosted its position in Allegiant Travel by 393.3% during the third quarter. Polymer Capital Management US LLC now owns 15,263 shares of the transportation company’s stock worth $1,157,000 after purchasing an additional 12,169 shares during the period. Advisors Asset Management Inc. bought a new position in Allegiant Travel during the third quarter worth about $1,648,000. Meeder Asset Management Inc. boosted its position in Allegiant Travel by 58.8% during the third quarter. Meeder Asset Management Inc. now owns 2,589 shares of the transportation company’s stock worth $196,000 after purchasing an additional 959 shares during the period. Finally, Public Sector Pension Investment Board increased its stake in shares of Allegiant Travel by 9.2% in the third quarter. Public Sector Pension Investment Board now owns 84,139 shares of the transportation company’s stock worth $6,099,000 after purchasing an additional 7,121 shares in the last quarter. Institutional investors own 85.81% of the company’s stock.

Allegiant Travel Company Profile

Allegiant Travel Company is a leisure-focused travel company best known for operating Allegiant Air, a low-cost airline. The airline offers scheduled, nonstop flights connecting smaller and midsize U.S. cities with popular vacation destinations, along with optional services such as seat selection and baggage allowances. Allegiant’s route network is concentrated in the United States, with service tailored to leisure travelers and demand that can vary by season. The company also offers travel-related products, including hotel and rental-car bookings, to complement its flights.