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 company’s stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $93.04, for a total value of $930,400.00. Following the transaction, the director directly owned 16,000 shares of the company’s stock, valued at $1,488,640. This represents a 38.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Allegiant Travel Price Performance

ALGT stock opened at $91.97 on Friday. The company’s fifty day simple moving average is $75.62 and its 200 day simple moving average is $87.52. Allegiant Travel Company has a 12-month low of $61.36 and a 12-month high of $123.63. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 28.21, a PEG ratio of 0.27 and a beta of 1.65. The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 1.38.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Wednesday, November 4th. The transportation company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.41. Allegiant Travel had a return on equity of 10.83% and a net margin of 0.90%. The company had revenue of $961.56 million during the quarter, compared to analyst estimates of $946.44 million. During the same quarter last year, the firm posted ($2.09) EPS. The firm’s revenue for the quarter was up 71.2% on a year-over-year basis. On average, analysts expect that Allegiant Travel Company will post 5.59 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in Allegiant Travel during the second quarter worth approximately $416,591,000. Donald Smith & CO. Inc. purchased a new position in Allegiant Travel during the 2nd quarter valued at about $175,636,000. Bank of New York Mellon Corp purchased a new position in shares of Allegiant Travel in the 2nd quarter valued at approximately $33,013,000. Wellington Management Group LLP purchased a new position in shares of Allegiant Travel in the second quarter worth $26,232,000. Finally, Heartland Advisors Inc. bought a new stake in shares of Allegiant Travel during the 2nd quarter valued at about $21,737,000. Institutional investors own 85.81% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on ALGT. Citigroup restated a “buy” rating on shares of Allegiant Travel in a report on Tuesday, October 6th. UBS Group raised Allegiant Travel from a “neutral” rating to a “buy” rating and lowered their target price for the company from $111.00 to $107.00 in a report on Sunday, September 13th. Weiss Ratings upgraded Allegiant Travel from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Wall Street Zen lowered Allegiant Travel from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Zacks Research cut Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 15th. One research 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 assigned a Sell rating to the stock. According to MarketBeat, Allegiant Travel has an average rating of “Moderate Buy” and a consensus price target 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.