Allegiant Travel (NASDAQ:ALGT) is RK Asset Management LLC’s 9th Largest Position

RK Asset Management LLC trimmed its stake in Allegiant Travel (NASDAQ:ALGT) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,446 shares of the transportation company’s stock after selling 882 shares during the period. Allegiant Travel comprises 5.7% of RK Asset Management LLC’s holdings, making the stock its 9th biggest holding. RK Asset Management LLC owned about 0.24% of Allegiant Travel worth $5,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. boosted its position in Allegiant Travel by 5.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,051 shares of the transportation company’s stock valued at $395,000 after buying an additional 157 shares during the period. Panagora Asset Management Inc. lifted its position in shares of Allegiant Travel by 592.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 2,251 shares of the transportation company’s stock worth $323,000 after purchasing an additional 1,926 shares during the period. GW&K Investment Management LLC lifted its position in shares of Allegiant Travel by 7.8% in the 2nd quarter. GW&K Investment Management LLC now owns 183,507 shares of the transportation company’s stock worth $26,333,000 after purchasing an additional 13,301 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Allegiant Travel by 138.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 25,135 shares of the transportation company’s stock worth $3,526,000 after purchasing an additional 14,575 shares during the period. Finally, Advisors Preferred LLC purchased a new stake in shares of Allegiant Travel in the 2nd quarter worth approximately $26,000. 80.55% of the stock is owned by institutional investors.

Shares of NASDAQ ALGT traded up $1.06 during trading hours on Friday, hitting $150.39. 414 shares of the stock were exchanged, compared to its average volume of 157,211. The company has a quick ratio of 1.24, a current ratio of 1.29 and a debt-to-equity ratio of 1.66. The company has a market cap of $2.44 billion, a PE ratio of 15.10, a PEG ratio of 0.40 and a beta of 0.92. The firm has a fifty day moving average price of $146.96 and a 200-day moving average price of $142.74. Allegiant Travel has a 12 month low of $98.18 and a 12 month high of $157.50.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data on Wednesday, July 24th. The transportation company reported $4.33 EPS for the quarter, missing the consensus estimate of $4.67 by ($0.34). The firm had revenue of $491.80 million for the quarter, compared to the consensus estimate of $504.81 million. Allegiant Travel had a return on equity of 26.59% and a net margin of 10.54%. The company’s revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.10 EPS. As a group, equities analysts anticipate that Allegiant Travel will post 14.14 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 20th were paid a dividend of $0.70 per share. The ex-dividend date was Thursday, September 19th. This represents a $2.80 annualized dividend and a dividend yield of 1.86%. Allegiant Travel’s dividend payout ratio (DPR) is presently 28.00%.

In related news, EVP Robert Paul Wilson III sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $144.83, for a total transaction of $144,830.00. Following the completion of the transaction, the executive vice president now owns 16,477 shares in the company, valued at approximately $2,386,363.91. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Maurice J. Gallagher, Jr. sold 19,269 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $151.14, for a total transaction of $2,912,316.66. Following the transaction, the chief executive officer now owns 2,901,373 shares of the company’s stock, valued at approximately $438,513,515.22. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,000 shares of company stock valued at $9,491,113. 20.90% of the stock is currently owned by company insiders.

Several equities research analysts have recently weighed in on ALGT shares. Citigroup upped their price target on shares of Allegiant Travel from $180.00 to $182.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. ValuEngine cut shares of Allegiant Travel from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 10th. Buckingham Research upped their price target on shares of Allegiant Travel from $186.00 to $191.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Sidoti upped their price target on shares of Allegiant Travel from $178.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, Morgan Stanley upped their price target on shares of Allegiant Travel from $152.00 to $164.00 and gave the stock an “equal weight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. Allegiant Travel has an average rating of “Buy” and a consensus price target of $165.17.

Allegiant Travel Company Profile

Allegiant Travel Company, a leisure travel company, provides 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. As of February 15, 2019, it operated a fleet of 79 Airbus A320 series aircraft.

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Institutional Ownership by Quarter for Allegiant Travel (NASDAQ:ALGT)

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