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

Key Points

• Allegiant director Charles Pollard sold 10,000 shares for $930,400, reducing his direct stake by 38.46% to 16,000 shares.
• The company reported quarterly EPS of -$0.03, beating the -$0.44 consensus estimate, while revenue of $961.56 million exceeded forecasts and rose 71.2% year over year.
• Analysts give ALGT a consensus “Moderate Buy” rating and an average price target of $124.15; shares closed at $91.97 on Friday.

Allegiant Travel Company (NASDAQ:ALGT - Get Free Report) Director Charles Pollard sold 10,000 shares of the business's stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $93.04, for a total value of $930,400.00. Following the sale, the director directly owned 16,000 shares in the company, valued at $1,488,640. This trade represents a 38.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Allegiant Travel Price Performance

Shares of ALGT traded up $4.38 on Friday, reaching $91.97. The stock had a trading volume of 825,236 shares, compared to its average volume of 552,331. Allegiant Travel Company has a twelve month low of $61.36 and a twelve month high of $123.63. The firm has a market capitalization of $2.51 billion, a PE ratio of 28.21, a PEG ratio of 0.29 and a beta of 1.65. The firm has a 50-day moving average of $75.38 and a 200 day moving average of $87.50. 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 - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The transportation company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.41. The firm had revenue of $961.56 million during the quarter, compared to analysts' expectations of $946.44 million. Allegiant Travel had a return on equity of 12.99% and a net margin of 1.65%. Allegiant Travel's revenue was up 71.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($2.09) earnings per share. Sell-side analysts expect that Allegiant Travel Company will post 5.59 EPS for the current year.

Wall Street Analyst Weigh In

ALGT has been the topic of several recent research reports. Raymond James Financial reiterated a "strong-buy" rating and issued a $120.00 price objective on shares of Allegiant Travel in a research report on Thursday. Wall Street Zen downgraded shares of Allegiant Travel from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. Susquehanna cut their target price on shares of Allegiant Travel from $110.00 to $85.00 and set a "neutral" rating for the company in a research report on Wednesday, October 7th. Weiss Ratings raised shares of Allegiant Travel from a "sell (d-)" rating to a "sell (d)" rating in a report on Tuesday, August 11th. Finally, Zacks Research lowered shares of Allegiant Travel from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 15th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $124.15.

Institutional Trading of Allegiant Travel

Several institutional investors and hedge funds have recently made changes to their positions in ALGT. Russell Investments Group Ltd. increased its stake in Allegiant Travel by 4.0% in the third quarter. Russell Investments Group Ltd. now owns 27,465 shares of the transportation company's stock valued at $2,082,000 after purchasing an additional 1,065 shares during the last quarter. Maryland State Retirement & Pension System boosted its stake in Allegiant Travel by 67.2% in the 3rd quarter. Maryland State Retirement & Pension System now owns 5,468 shares of the transportation company's stock worth $414,000 after buying an additional 2,198 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in Allegiant Travel in the 3rd quarter worth about $1,421,000. Fulcrum Asset Management LLP acquired a new stake in Allegiant Travel in the 3rd quarter worth about $682,000. Finally, Oregon Public Employees Retirement Fund grew its holdings in Allegiant Travel by 7.8% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 5,500 shares of the transportation company's stock valued at $417,000 after buying an additional 400 shares during the period. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

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.

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