Campbell & CO Investment Adviser LLC acquired a new stake in shares of Allegiant Travel (NASDAQ:ALGT) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 6,814 shares of the transportation company’s stock, valued at approximately $1,322,000. Allegiant Travel makes up about 0.5% of Campbell & CO Investment Adviser LLC’s investment portfolio, making the stock its 16th biggest position.
Several other institutional investors also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. bought a new stake in Allegiant Travel in the second quarter worth $28,000. Harvest Fund Management Co. Ltd purchased a new position in Allegiant Travel during the first quarter worth $43,000. Captrust Financial Advisors boosted its stake in Allegiant Travel by 52.3% during the first quarter. Captrust Financial Advisors now owns 198 shares of the transportation company’s stock worth $48,000 after buying an additional 68 shares during the period. Harbor Investment Advisory LLC boosted its stake in Allegiant Travel by 20.2% during the second quarter. Harbor Investment Advisory LLC now owns 315 shares of the transportation company’s stock worth $61,000 after buying an additional 53 shares during the period. Finally, Capital Analysts LLC boosted its stake in Allegiant Travel by 51.5% during the first quarter. Capital Analysts LLC now owns 397 shares of the transportation company’s stock worth $97,000 after buying an additional 135 shares during the period. Hedge funds and other institutional investors own 86.00% of the company’s stock.
In related news, COO Scott Sheldon sold 1,946 shares of the stock in a transaction on Wednesday, August 18th. The stock was sold at an average price of $187.21, for a total value of $364,310.66. Following the completion of the transaction, the chief operating officer now directly owns 38,023 shares of the company’s stock, valued at approximately $7,118,285.83. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Gregory Clark Anderson sold 1,767 shares of the stock in a transaction on Wednesday, August 18th. The shares were sold at an average price of $187.21, for a total value of $330,800.07. Following the completion of the transaction, the chief financial officer now directly owns 35,941 shares of the company’s stock, valued at $6,728,514.61. The disclosure for this sale can be found here. Company insiders own 16.70% of the company’s stock.
Allegiant Travel (NASDAQ:ALGT) last announced its earnings results on Tuesday, July 27th. The transportation company reported $3.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.62. Allegiant Travel had a negative return on equity of 10.32% and a net margin of 3.66%. The firm had revenue of $472.43 million for the quarter, compared to analyst estimates of $472.93 million. As a group, sell-side analysts expect that Allegiant Travel will post 5.11 EPS for the current fiscal year.
A number of brokerages have recently issued reports on ALGT. Bank of America raised shares of Allegiant Travel from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a research note on Thursday, July 29th. Susquehanna Bancshares assumed coverage on shares of Allegiant Travel in a report on Tuesday, July 13th. They set a “positive” rating and a $245.00 price objective on the stock. Raymond James cut their price objective on shares of Allegiant Travel from $290.00 to $260.00 and set a “strong-buy” rating on the stock in a report on Wednesday, July 21st. TheStreet upgraded shares of Allegiant Travel from a “c-” rating to a “b-” rating in a report on Thursday, July 29th. Finally, MKM Partners upgraded Allegiant Travel from a “neutral” rating to a “buy” rating and set a $230.00 target price on the stock in a research report on Wednesday, July 21st. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $259.55.
Allegiant Travel Company Profile
Allegiant Travel Co engages in the provision of travel services. It includes scheduled service air transportation, air-related travel services and product, third party travel products, and fixed fee contract air transportation. It operates through the following segments: Airline, Sunseeker Resort, and Other non-Airline.
See Also: Return on Equity (ROE)
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