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.
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.
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.
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