Allegiant Travel (NASDAQ:ALGT) Director Charles Pollard Sells 10,000 Shares of Stock

Allegiant Travel Company (NASDAQ:ALGT) Director Charles Pollard sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $93.04, for a total transaction of $930,400.00. Following the completion of the sale, the director owned 16,000 shares of the company’s stock, valued at approximately $1,488,640. The trade was a 38.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Allegiant Travel Trading Up 5.0%

ALGT stock traded up $4.38 on Friday, hitting $91.97. 825,236 shares of the company were exchanged, compared to its average volume of 552,331. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.83 and a quick ratio of 0.80. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 28.21, a price-to-earnings-growth ratio of 0.29 and a beta of 1.65. Allegiant Travel Company has a twelve month low of $61.36 and a twelve month high of $123.63. The business’s fifty day moving average is $75.38 and its two-hundred day moving average is $87.50.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Wednesday, November 4th. The transportation company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.41. Allegiant Travel had a net margin of 1.65% and a return on equity of 12.99%. The company had revenue of $961.56 million for the quarter, compared to analyst estimates of $946.44 million. During the same quarter last year, the business earned ($2.09) EPS. Allegiant Travel’s revenue for the quarter was up 71.2% on a year-over-year basis. As a group, research analysts forecast that Allegiant Travel Company will post 5.59 earnings per share for the current year.

Hedge Funds Weigh In On Allegiant Travel

A number of hedge funds have recently made changes to their positions in ALGT. Global Retirement Partners LLC acquired a new position in shares of Allegiant Travel during the 2nd quarter valued at $26,000. Allworth Financial LP acquired a new position in Allegiant Travel during the 2nd quarter worth approximately $26,000. Parallel Advisors LLC boosted its holdings in Allegiant Travel by 339.6% in the 1st quarter. Parallel Advisors LLC now owns 488 shares of the transportation company’s stock worth $40,000 after acquiring an additional 377 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Allegiant Travel in the 2nd quarter worth approximately $42,000. Finally, Farther Finance Advisors LLC boosted its holdings in Allegiant Travel by 40.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 584 shares of the transportation company’s stock worth $44,000 after acquiring an additional 168 shares during the period. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Raymond James Financial reiterated a “strong-buy” rating and issued a $120.00 target price on shares of Allegiant Travel in a report on Thursday. Susquehanna dropped their price target on Allegiant Travel from $110.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, October 7th. Barclays cut their price objective on Allegiant Travel from $145.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, September 11th. Citigroup reaffirmed a “buy” rating on shares of Allegiant Travel in a research note on Tuesday, October 6th. Finally, Zacks Research lowered Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $124.15.

About Allegiant Travel

Allegiant Travel Company is a leisure-focused travel company headquartered in Las Vegas, Nevada. Its principal operating subsidiary, Allegiant Air, is a low-cost airline that provides scheduled and charter passenger service, primarily connecting smaller and mid-sized U.S. cities with popular vacation destinations.

Allegiant Air’s business model emphasizes nonstop routes, low base fares and optional services such as seat selection, baggage, priority boarding and other travel-related amenities.