Maurice J. Gallagher, Jr. Sells 12,645 Shares of Allegiant Air (ALGT) Stock

Allegiant Air (NASDAQ:ALGT) CEO Maurice J. Gallagher, Jr. sold 12,645 shares of the business’s stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $163.40, for a total transaction of $2,066,193.00. Following the completion of the sale, the chief executive officer now directly owns 2,977,169 shares in the company, valued at approximately $486,469,414.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Shares of NASDAQ ALGT traded down $2.30 during mid-day trading on Monday, reaching $170.25. The company had a trading volume of 240,443 shares, compared to its average volume of 157,831. Allegiant Air has a one year low of $111.54 and a one year high of $181.45. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.95 and a current ratio of 0.98. The stock has a market capitalization of $2,772.30, a P/E ratio of 17.83, a PEG ratio of 0.54 and a beta of 0.07.

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Allegiant Air (NASDAQ:ALGT) last released its earnings results on Wednesday, January 31st. The transportation company reported $2.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.78 by $0.93. Allegiant Air had a return on equity of 31.47% and a net margin of 12.96%. The firm had revenue of $378.56 million for the quarter, compared to analysts’ expectations of $377.25 million. During the same quarter in the previous year, the business posted $2.48 earnings per share. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. equities research analysts forecast that Allegiant Air will post 10.94 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Friday, March 2nd were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Thursday, March 1st. Allegiant Air’s payout ratio is 29.32%.

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its stake in shares of Allegiant Air by 154.9% in the third quarter. SG Americas Securities LLC now owns 6,371 shares of the transportation company’s stock worth $839,000 after acquiring an additional 3,872 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Allegiant Air by 517.5% in the third quarter. Victory Capital Management Inc. now owns 5,267 shares of the transportation company’s stock worth $694,000 after acquiring an additional 4,414 shares during the period. Schroder Investment Management Group lifted its stake in Allegiant Air by 7.7% in the third quarter. Schroder Investment Management Group now owns 269,275 shares of the transportation company’s stock valued at $35,989,000 after buying an additional 19,303 shares during the period. GHP Investment Advisors Inc. lifted its stake in Allegiant Air by 13.0% in the third quarter. GHP Investment Advisors Inc. now owns 8,927 shares of the transportation company’s stock valued at $1,176,000 after buying an additional 1,026 shares during the period. Finally, RK Asset Management LLC lifted its stake in Allegiant Air by 1.8% in the fourth quarter. RK Asset Management LLC now owns 43,982 shares of the transportation company’s stock valued at $6,806,000 after buying an additional 767 shares during the period. 90.41% of the stock is currently owned by institutional investors.

Several equities research analysts have issued reports on ALGT shares. ValuEngine raised shares of Allegiant Air from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. Deutsche Bank upgraded shares of Allegiant Air from a “hold” rating to a “buy” rating and upped their price target for the stock from $130.00 to $180.00 in a research report on Thursday, December 21st. Bank of America upgraded shares of Allegiant Air from a “neutral” rating to a “buy” rating and set a $145.00 price target on the stock in a research report on Tuesday, January 9th. BidaskClub raised Allegiant Air from a “hold” rating to a “buy” rating in a research note on Thursday, January 18th. Finally, Stifel Nicolaus raised Allegiant Air from a “hold” rating to a “buy” rating and increased their target price for the stock from $150.00 to $200.00 in a research note on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $164.64.

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Allegiant Air Company Profile

Allegiant Travel Company, a leisure travel company, focuses on the provision of travel services and products to residents of under-served cities in the United States. The company offers scheduled air transportation on limited frequency nonstop flights between under-served cities and leisure destinations.

Insider Buying and Selling by Quarter for Allegiant Air (NASDAQ:ALGT)

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