Rhumbline Advisers increased its holdings in Allegiant Travel (NASDAQ:ALGT) by 13.1% in the fourth quarter, HoldingsChannel reports. The firm owned 31,059 shares of the transportation company’s stock after acquiring an additional 3,591 shares during the period. Rhumbline Advisers’ holdings in Allegiant Travel were worth $4,806,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Allegiant Travel by 47.0% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,258 shares of the transportation company’s stock valued at $166,000 after purchasing an additional 402 shares in the last quarter. Shelton Capital Management purchased a new stake in shares of Allegiant Travel in the 4th quarter valued at $202,000. Teacher Retirement System of Texas purchased a new stake in shares of Allegiant Travel in the 4th quarter valued at $216,000. McKinley Carter Wealth Services Inc. purchased a new stake in shares of Allegiant Travel in the 4th quarter valued at $233,000. Finally, SeaCrest Wealth Management LLC purchased a new stake in shares of Allegiant Travel in the 4th quarter valued at $383,000. 90.81% of the stock is owned by institutional investors.
Shares of Allegiant Travel (ALGT) opened at $174.30 on Friday. The firm has a market cap of $2,800.48, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 0.55 and a beta of 0.14. The company has a current ratio of 0.98, a quick ratio of 0.95 and a debt-to-equity ratio of 1.73. Allegiant Travel has a 12-month low of $111.54 and a 12-month high of $176.00.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, March 2nd will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $2.80 annualized dividend and a yield of 1.61%. Allegiant Travel’s payout ratio is currently 23.41%.
In other Allegiant Travel news, CEO Maurice J. Gallagher, Jr. sold 182,182 shares of the company’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $167.18, for a total value of $30,457,186.76. Following the completion of the transaction, the chief executive officer now directly owns 3,071,196 shares in the company, valued at approximately $513,442,547.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Maurice J. Gallagher, Jr. sold 17,818 shares of the company’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $155.74, for a total transaction of $2,774,975.32. The disclosure for this sale can be found here. Insiders have sold a total of 300,341 shares of company stock valued at $49,659,856 in the last three months. 21.00% of the stock is currently owned by corporate insiders.
A number of equities research analysts have recently issued reports on ALGT shares. Bank of America raised shares of Allegiant Travel from a “neutral” rating to a “buy” rating and set a $145.00 price objective for the company in a research note on Tuesday, January 9th. Deutsche Bank raised shares of Allegiant Travel from a “hold” rating to a “buy” rating and upped their price objective for the company from $130.00 to $180.00 in a research note on Thursday, December 21st. BidaskClub raised shares of Allegiant Travel from a “hold” rating to a “buy” rating in a research note on Thursday, February 15th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $150.00 price objective (up previously from $135.00) on shares of Allegiant Travel in a research note on Wednesday, January 10th. Finally, ValuEngine raised shares of Allegiant Travel from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. Allegiant Travel currently has an average rating of “Hold” and an average target price of $164.64.
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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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