Stock traders buy high volume of call options on Allegiant Travel (NASDAQ: ALGT)
Allegiant Travel (NASDAQ: ALGT) received unusual option trades on Monday. Stock traders bought 2,294 call options on the company. This represents an increase of 573% over the typical daily volume of 341 call options.
Separately, insider Rebecca Aretos sold 182 shares of the company in a transaction that took place on Tuesday, October 26. The stock was sold for an average price of $ 182.45, for a total value of $ 33,205.90. The transaction has been disclosed in a legal file with the SEC, which is available through this link. Company insiders own 16.70% of the company’s shares.
A number of large investors have recently bought and sold shares of ALGT. Amundi Pioneer Asset Management Inc. acquired in the first quarter a new position in Allegiant Travel valued at $ 155,000. Victory Capital Management Inc. increased its holdings of Allegiant Travel shares by 7.8% during the second quarter. Victory Capital Management Inc. now owns 2,128 shares of the transportation company valued at $ 413,000 after purchasing 154 additional shares in the last quarter. Russell Investments Group Ltd. increased its holdings of Allegiant Travel shares by 10.0% in the second quarter. Russell Investments Group Ltd. now owns 36,257 shares of the transportation company valued at $ 7,031,000 after purchasing an additional 3,286 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings of Allegiant Travel shares by 7.1% during the second quarter. Envestnet Asset Management Inc. now owns 5,180 shares of the transportation company valued at $ 1,005,000 after purchasing 343 additional shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Allegiant Travel shares by 28.3% during the second quarter. American Century Companies Inc. now owns 1,820 shares of the transportation company valued at $ 353,000 after purchasing an additional 401 shares in the last quarter. 85.98% of the shares are currently held by hedge funds and other institutional investors.
A number of research firms have commented on ALGT. Susquehanna reduced its price target on Allegiant Travel from $ 255.00 to $ 240.00 and rated the stock “positive” in a Friday October 29th research note. Raymond James reduced his price target on Allegiant Travel from $ 260.00 to $ 235.00 and set a “strong buy” rating on the stock in a research note on Thursday, October 28. Wolfe Research downgraded Allegiant Travel from an “outperformance” rating to a “peer performance” rating in a Wednesday, October 6 research note. They noted that the move was an appraisal call. Susquehanna Bancshares reduced her price target on Allegiant Travel from $ 255.00 to $ 240.00 and rated the stock “positive” in a Friday October 29th research note. Finally, Morgan Stanley lowered its price target on Allegiant Travel from $ 300.00 to $ 280.00 and set an “overweight” rating on the stock in a Tuesday, November 16 research note. Two investment analysts assigned a conservation rating to the stock, nine issued a buy rating and one assigned a high buy rating to the stock. According to data from MarketBeat.com, Allegiant Travel has an average “Buy” rating and an average target price of $ 245.75.
NASDAQ: ALGT traded up $ 4.23 during trading hours on Monday, reaching $ 191.27. The company’s shares had a traded volume of 10,262 shares, compared to an average volume of 171,698. The stock has a market cap of $ 3.46 billion, a P / E ratio of 30.72 and a beta of 1.61. The stock has a fifty-day moving average of $ 183.54 and a 200-day moving average of $ 189.34. The company has a current ratio of 1.91, a quick ratio of 1.87 and a debt ratio of 1.20. Allegiant Travel has a 52 week low of $ 163.60 and a 52 week high of $ 271.29.
Allegiant Travel (NASDAQ: ALGT) last released its results on Tuesday, October 26. The transportation company reported EPS of $ 0.66 for the quarter, beating the consensus estimate of $ 0.64 by $ 0.02. The company posted revenue of $ 459.47 million for the quarter, compared to $ 451.35 million according to analysts’ estimates. Allegiant Travel recorded a negative return on equity of 0.35% and a net margin of 7.71%. Allegiant Travel revenue for the quarter increased 128.6% compared to the same quarter last year. In the same quarter of the previous year, the company posted earnings per share ($ 4.28). On average, sell-side analysts predict that Allegiant Travel will post earnings per share of 1.94 for the current year.
Allegiant Travel Company Profile
Allegiant Travel Co is engaged in the provision of travel services. It includes scheduled service air transport, air travel related travel products and services, third party travel products and fixed rate contract air transport. It operates through the following segments: Airline, Sunseeker Resort and Other Non-Airlines.
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