California Public Employees Retirement System decreased its position in shares of Allegiant Travel Co. (NASDAQ:ALGT) by 6.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,300 shares of the company’s stock after selling 2,100 shares during the period. California Public Employees Retirement System’s holdings in Allegiant Travel were worth $4,002,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in ALGT. Boston Advisors LLC raised its stake in Allegiant Travel by 0.8% in the second quarter. Boston Advisors LLC now owns 3,005 shares of the company’s stock valued at $455,000 after buying an additional 25 shares during the period. PineBridge Investments L.P. raised its stake in Allegiant Travel by 2.1% in the second quarter. PineBridge Investments L.P. now owns 1,636 shares of the company’s stock valued at $247,000 after buying an additional 34 shares during the period. 1st Global Advisors Inc. raised its stake in Allegiant Travel by 8.8% in the third quarter. 1st Global Advisors Inc. now owns 2,641 shares of the company’s stock valued at $349,000 after buying an additional 213 shares during the period. Suntrust Banks Inc. raised its stake in Allegiant Travel by 7.8% in the second quarter. Suntrust Banks Inc. now owns 2,980 shares of the company’s stock valued at $451,000 after buying an additional 216 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in Allegiant Travel by 4.0% in the second quarter. Thrivent Financial for Lutherans now owns 6,270 shares of the company’s stock valued at $950,000 after buying an additional 240 shares during the period. Institutional investors and hedge funds own 79.04% of the company’s stock.

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

Allegiant Travel Co. (NASDAQ:ALGT) traded down 0.42% on Tuesday, hitting $166.30. 141,365 shares of the company’s stock traded hands. The stock has a market cap of $2.73 billion, a PE ratio of 11.78 and a beta of -0.27. Allegiant Travel Co. has a one year low of $121.70 and a one year high of $189.50. The stock has a 50-day moving average of $152.05 and a 200-day moving average of $141.97.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Wednesday, October 26th. The company reported $2.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.66 by $0.09. Allegiant Travel had a net margin of 17.57% and a return on equity of 60.20%. The firm earned $33.50 million during the quarter, compared to analysts’ expectations of $84.35 million. During the same quarter last year, the company posted $2.62 earnings per share. The firm’s revenue was down 88.8% compared to the same quarter last year. On average, equities analysts forecast that Allegiant Travel Co. will post $13.07 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Wednesday, November 23rd will be issued a dividend of $0.70 per share. The ex-dividend date is Monday, November 21st. This represents a $2.80 annualized dividend and a dividend yield of 1.68%. Allegiant Travel’s dividend payout ratio (DPR) is presently 19.86%.

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Several research firms have recently commented on ALGT. Stifel Nicolaus reduced their price objective on Allegiant Travel from $200.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, August 3rd. Zacks Investment Research upgraded Allegiant Travel from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 2nd. Cowen and Company reduced their price objective on Allegiant Travel from $165.00 to $147.00 and set a “market perform” rating for the company in a research note on Monday, August 1st. Wolfe Research lowered Allegiant Travel from an “outperform” rating to a “market perform” rating in a research note on Monday, November 21st. Finally, Citigroup Inc. began coverage on Allegiant Travel in a research note on Friday, November 18th. They issued a “buy” rating and a $185.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. Allegiant Travel presently has an average rating of “Hold” and a consensus target price of $176.83.

In other Allegiant Travel news, CFO Scott Sheldon sold 2,596 shares of Allegiant Travel stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $153.70, for a total value of $399,005.20. Following the completion of the transaction, the chief financial officer now owns 20,964 shares of the company’s stock, valued at $3,222,166.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 21.00% of the company’s stock.

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. Its products and services include scheduled service air transportation, air-related ancillary products and services, third-party ancillary products and services, fixed fee contract air transportation and other revenue.

5 Day Chart for NASDAQ:ALGT

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