Profund Advisors LLC lifted its holdings in shares of Allegiant Travel (NASDAQ:ALGT) by 17.5% during the second quarter, HoldingsChannel reports. The firm owned 1,830 shares of the transportation company’s stock after acquiring an additional 273 shares during the quarter. Profund Advisors LLC’s holdings in Allegiant Travel were worth $355,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AlphaCrest Capital Management LLC raised its position in shares of Allegiant Travel by 265.9% during the second quarter. AlphaCrest Capital Management LLC now owns 4,124 shares of the transportation company’s stock worth $800,000 after purchasing an additional 2,997 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Allegiant Travel in the 2nd quarter valued at approximately $3,376,000. Penserra Capital Management LLC acquired a new stake in Allegiant Travel in the 2nd quarter valued at approximately $40,000. Advisory Services Network LLC acquired a new stake in Allegiant Travel in the 2nd quarter valued at approximately $148,000. Finally, Segall Bryant & Hamill LLC raised its position in Allegiant Travel by 42.0% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 62,384 shares of the transportation company’s stock valued at $12,103,000 after buying an additional 18,466 shares during the last quarter. 86.00% of the stock is currently owned by institutional investors.
A number of equities research analysts recently issued reports on ALGT shares. MKM Partners raised Allegiant Travel from a “neutral” rating to a “buy” rating and set a $230.00 target price on the stock in a research report on Wednesday, July 21st. They noted that the move was a valuation call. TheStreet raised Allegiant Travel from a “c-” rating to a “b-” rating in a research report on Thursday, July 29th. Bank of America upgraded Allegiant Travel from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a research note on Thursday, July 29th. The Goldman Sachs Group decreased their price target on Allegiant Travel from $278.00 to $265.00 and set a “neutral” rating for the company in a research note on Wednesday, October 6th. Finally, Raymond James decreased their price target on Allegiant Travel from $290.00 to $260.00 and set a “strong-buy” rating for the company in a research note on Wednesday, July 21st. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $257.45.
Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Tuesday, July 27th. The transportation company reported $3.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.84 by $0.62. Allegiant Travel had a negative return on equity of 10.32% and a net margin of 3.66%. The company had revenue of $472.43 million during the quarter, compared to the consensus estimate of $472.93 million. Analysts predict that Allegiant Travel will post 5.11 EPS for the current fiscal year.
In related news, CFO Gregory Clark Anderson sold 1,767 shares of the business’s stock in a transaction on Wednesday, August 18th. The stock was sold at an average price of $187.21, for a total value of $330,800.07. Following the completion of the sale, the chief financial officer now directly owns 35,941 shares in the company, valued at approximately $6,728,514.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Scott Sheldon sold 1,946 shares of Allegiant Travel stock in a transaction on Wednesday, August 18th. The shares were sold at an average price of $187.21, for a total value of $364,310.66. Following the completion of the transaction, the chief operating officer now directly owns 38,023 shares of the company’s stock, valued at $7,118,285.83. The disclosure for this sale can be found here. Insiders own 16.70% of the company’s stock.
Allegiant Travel Company Profile
Allegiant Travel Co engages in the provision of travel services. It includes scheduled service air transportation, air-related travel services and product, third party travel products, and fixed fee contract air transportation. It operates through the following segments: Airline, Sunseeker Resort, and Other non-Airline.
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