Cambridge Investment Research Advisors Inc. bought a new position in shares of Allegiant Travel (NASDAQ:ALGT) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,778 shares of the transportation company’s stock, valued at approximately $386,000.
A number of other institutional investors and hedge funds have also made changes to their positions in ALGT. Oppenheimer Asset Management Inc. purchased a new position in shares of Allegiant Travel in the 1st quarter valued at $223,000. Bayesian Capital Management LP purchased a new position in shares of Allegiant Travel in the 1st quarter valued at $236,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Allegiant Travel in the 2nd quarter valued at $370,000. Profund Advisors LLC grew its position in shares of Allegiant Travel by 27.2% in the 1st quarter. Profund Advisors LLC now owns 2,238 shares of the transportation company’s stock valued at $386,000 after buying an additional 479 shares during the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new stake in Allegiant Travel during the 2nd quarter worth $389,000. 96.20% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently weighed in on the stock. Cowen decreased their price target on shares of Allegiant Travel from $166.00 to $142.00 and set a “market perform” rating for the company in a research note on Thursday, July 26th. Zacks Investment Research upgraded shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Tuesday, September 11th. ValuEngine cut shares of Allegiant Travel from a “hold” rating to a “sell” rating in a research note on Wednesday, June 27th. Wolfe Research cut shares of Allegiant Travel from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 14th. Finally, BidaskClub upgraded shares of Allegiant Travel from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 21st. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. Allegiant Travel currently has a consensus rating of “Hold” and an average target price of $154.00.
Shares of NASDAQ ALGT traded up $1.89 during midday trading on Friday, hitting $119.73. The company had a trading volume of 235,504 shares, compared to its average volume of 187,856. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.54. Allegiant Travel has a twelve month low of $112.47 and a twelve month high of $181.45. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 0.49 and a beta of 0.13.
Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Wednesday, July 25th. The transportation company reported $3.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.66 by $0.44. Allegiant Travel had a net margin of 13.21% and a return on equity of 30.22%. The firm had revenue of $436.80 million during the quarter, compared to the consensus estimate of $437.69 million. During the same period last year, the firm posted $2.94 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities research analysts expect that Allegiant Travel will post 9.73 EPS for the current fiscal year.
About Allegiant Travel
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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