Bank of Montreal Can grew its holdings in shares of Allegiant Travel Company (NASDAQ:ALGT) by 28.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 829 shares of the transportation company’s stock after acquiring an additional 186 shares during the period. Bank of Montreal Can’s holdings in Allegiant Travel were worth $112,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in ALGT. BlackRock Inc. raised its stake in shares of Allegiant Travel by 141,260.2% during the first quarter. BlackRock Inc. now owns 1,546,481 shares of the transportation company’s stock valued at $247,824,000 after acquiring an additional 1,545,387 shares during the last quarter. Neuberger Berman Group LLC raised its stake in shares of Allegiant Travel by 17.6% during the first quarter. Neuberger Berman Group LLC now owns 601,416 shares of the transportation company’s stock valued at $96,377,000 after acquiring an additional 90,037 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of Allegiant Travel by 36.3% during the first quarter. Schroder Investment Management Group now owns 274,416 shares of the transportation company’s stock valued at $44,277,000 after acquiring an additional 73,047 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Allegiant Travel by 4.7% during the first quarter. Vanguard Group Inc. now owns 1,157,458 shares of the transportation company’s stock valued at $185,482,000 after acquiring an additional 51,487 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Allegiant Travel by 51.7% during the first quarter. Bank of America Corp DE now owns 107,163 shares of the transportation company’s stock valued at $17,173,000 after acquiring an additional 36,530 shares during the last quarter. 82.39% of the stock is owned by hedge funds and other institutional investors.
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Several equities analysts have recently issued reports on the stock. Cowen and Company reaffirmed a “market perform” rating and set a $157.00 price target on shares of Allegiant Travel in a research note on Tuesday, May 30th. ValuEngine raised shares of Allegiant Travel from a “hold” rating to a “buy” rating in a research note on Thursday, July 20th. Zacks Investment Research raised shares of Allegiant Travel from a “hold” rating to a “buy” rating and set a $159.00 price target for the company in a research note on Monday, July 17th. Sidoti reaffirmed a “buy” rating and set a $186.00 price target (up previously from $183.00) on shares of Allegiant Travel in a research note on Wednesday, July 12th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $141.00 price target (down previously from $144.00) on shares of Allegiant Travel in a research note on Monday, July 10th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $156.75.
Shares of Allegiant Travel Company (ALGT) traded up 1.78% during trading on Monday, reaching $117.40. 94,355 shares of the company were exchanged. The stock has a market capitalization of $1.90 billion, a PE ratio of 11.01 and a beta of -0.01. Allegiant Travel Company has a one year low of $111.54 and a one year high of $182.25. The stock has a 50-day moving average price of $124.32 and a 200-day moving average price of $143.85.
Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Wednesday, July 26th. The transportation company reported $2.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.96 by $0.02. The firm had revenue of $400.60 million for the quarter, compared to the consensus estimate of $399.58 million. Allegiant Travel had a net margin of 12.23% and a return on equity of 37.66%. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.68 earnings per share. Analysts forecast that Allegiant Travel Company will post $9.22 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th were paid a dividend of $0.70 per share. The ex-dividend date was Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.43%. Allegiant Travel’s dividend payout ratio is currently 26.24%.
Allegiant Travel announced that its board has authorized a share repurchase plan on Wednesday, July 26th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the transportation company to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
About Allegiant Travel
Allegiant Travel Company is a leisure travel company. The Company is focused on providing travel services and products to residents of under-served cities in the United States. It also provides air transportation under fixed fee flying arrangements. The Company’s products and services include scheduled service air transportation, air-related ancillary products and services, third-party ancillary products and services and fixed fee contract air transportation.
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