Allegiant Travel (NASDAQ:ALGT) CEO Sells $245,308.80 in Stock

Key Points

• CEO Gregory Anderson sold 2,640 Allegiant Travel shares for about $245,309, reducing his direct ownership by 2.18% to 118,209 shares.
• Allegiant reported quarterly revenue of $961.6 million, up 71.2% year over year, and a loss of $0.03 per share—better than analysts’ estimates of a $0.44 loss.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $125.15; recent ratings changes included both lowered targets and downgrades.

Allegiant Travel Company (NASDAQ:ALGT - Get Free Report) CEO Gregory Anderson sold 2,640 shares of the stock in a transaction dated Thursday, November 12th. The stock was sold at an average price of $92.92, for a total transaction of $245,308.80. Following the completion of the sale, the chief executive officer directly owned 118,209 shares in the company, valued at approximately $10,983,980.28. The trade was a 2.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Allegiant Travel Price Performance

NASDAQ:ALGT traded down $0.36 during mid-day trading on Friday, hitting $92.15. 325,435 shares of the stock traded hands, compared to its average volume of 551,530. The business's 50-day moving average price is $77.18 and its 200 day moving average price is $87.64. The company has a market cap of $2.52 billion, a PE ratio of 28.27, a price-to-earnings-growth ratio of 0.28 and a beta of 1.65. Allegiant Travel Company has a 12-month low of $61.36 and a 12-month high of $123.63. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 1.45.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its earnings results on Wednesday, November 4th. The transportation company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.44) by $0.41. Allegiant Travel had a net margin of 1.65% and a return on equity of 11.95%. The business had revenue of $961.56 million for the quarter, compared to analyst estimates of $946.44 million. During the same quarter in the prior year, the firm posted ($2.09) EPS. Allegiant Travel's revenue was up 71.2% on a year-over-year basis. On average, analysts expect that Allegiant Travel Company will post 6.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Allegiant Travel

Several hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC increased its position in shares of Allegiant Travel by 20.0% during the 3rd 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 raised its position in Allegiant Travel by 393.3% in the 3rd 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. purchased a new stake in Allegiant Travel during the third quarter valued at about $1,648,000. Meeder Asset Management Inc. increased its holdings in shares of Allegiant Travel by 58.8% in the third quarter. Meeder Asset Management Inc. now owns 2,589 shares of the transportation company's stock worth $196,000 after buying an additional 959 shares during the period. Finally, Public Sector Pension Investment Board boosted its holdings in Allegiant Travel by 9.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 84,139 shares of the transportation company's stock valued at $6,099,000 after acquiring an additional 7,121 shares during the period. Institutional investors own 85.81% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Susquehanna dropped their price objective 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. Zacks Research cut Allegiant Travel from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 15th. Barclays dropped their price target on Allegiant Travel from $145.00 to $115.00 and set an "overweight" rating for the company in a research report on Friday, September 11th. Citigroup reissued a "buy" rating on shares of Allegiant Travel in a report on Tuesday, October 6th. Finally, Wall Street Zen cut shares of Allegiant Travel from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $125.15.

About Allegiant Travel

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.

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