GW&K Investment Management LLC boosted its stake in shares of Allegiant Travel (NASDAQ:ALGT) by 25.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 230,799 shares of the transportation company’s stock after buying an additional 47,292 shares during the period. GW&K Investment Management LLC owned 1.42% of Allegiant Travel worth $34,541,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Municipal Employees Retirement System of Michigan boosted its stake in Allegiant Travel by 1.9% during the second quarter. Municipal Employees Retirement System of Michigan now owns 3,850 shares of the transportation company’s stock worth $552,000 after buying an additional 70 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Allegiant Travel by 2.0% during the second quarter. Oregon Public Employees Retirement Fund now owns 5,043 shares of the transportation company’s stock worth $724,000 after buying an additional 100 shares during the last quarter. Rothschild Investment Corp IL boosted its stake in Allegiant Travel by 4.9% during the third quarter. Rothschild Investment Corp IL now owns 2,160 shares of the transportation company’s stock worth $323,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Allegiant Travel by 2.1% during the third quarter. Louisiana State Employees Retirement System now owns 4,900 shares of the transportation company’s stock worth $733,000 after buying an additional 100 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in Allegiant Travel by 0.6% during the second quarter. Arizona State Retirement System now owns 19,959 shares of the transportation company’s stock worth $2,864,000 after buying an additional 118 shares during the last quarter. 79.48% of the stock is currently owned by institutional investors.

In other Allegiant Travel news, CEO Maurice J. Gallagher, Jr. sold 14,092 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $169.81, for a total transaction of $2,392,962.52. Following the completion of the sale, the chief executive officer now directly owns 2,847,476 shares of the company’s stock, valued at approximately $483,529,899.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Maurice J. Gallagher, Jr. sold 60,908 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $163.14, for a total value of $9,936,531.12. Following the sale, the chief executive officer now directly owns 2,847,476 shares of the company’s stock, valued at $464,537,234.64. The disclosure for this sale can be found here. 20.90% of the stock is owned by corporate insiders.

Shares of Allegiant Travel stock traded up $0.20 during trading hours on Friday, hitting $168.32. The company’s stock had a trading volume of 95,800 shares, compared to its average volume of 171,145. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 16.83, a P/E/G ratio of 0.43 and a beta of 0.92. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.91 and a current ratio of 0.96. Allegiant Travel has a twelve month low of $98.18 and a twelve month high of $173.00. The firm has a fifty day moving average of $155.51 and a 200-day moving average of $146.88.

Allegiant Travel (NASDAQ:ALGT) last announced its earnings results on Thursday, October 24th. The transportation company reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.49. The firm had revenue of $436.51 million during the quarter, compared to analysts’ expectations of $429.44 million. Allegiant Travel had a return on equity of 28.76% and a net margin of 11.85%. The business’s revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.94 EPS. On average, sell-side analysts expect that Allegiant Travel will post 14.52 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 22nd will be given a $0.70 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.66%. Allegiant Travel’s dividend payout ratio (DPR) is presently 28.00%.

ALGT has been the topic of a number of recent research reports. Barclays boosted their price objective on Allegiant Travel from $117.00 to $145.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. ValuEngine lowered Allegiant Travel from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 10th. Morgan Stanley upped their price target on Allegiant Travel from $152.00 to $164.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Cowen upped their price target on Allegiant Travel from $152.00 to $169.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, Buckingham Research upped their price target on Allegiant Travel from $191.00 to $206.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the stock. Allegiant Travel presently has a consensus rating of “Buy” and a consensus price target of $167.43.

About Allegiant Travel

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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