Allegiant Air Target of Unusually Large Options Trading (ALGT)

Allegiant Air (NASDAQ:ALGT) saw some unusual options trading on Monday. Stock investors bought 1,553 put options on the stock. This represents an increase of 1,626% compared to the typical volume of 90 put options.

Several brokerages have recently commented on ALGT. Zacks Investment Research downgraded Allegiant Air from a “hold” rating to a “sell” rating in a research note on Thursday, April 12th. BidaskClub downgraded Allegiant Air from a “buy” rating to a “hold” rating in a research note on Thursday, April 12th. Morgan Stanley cut their price target on Allegiant Air from $171.00 to $169.00 and set an “equal weight” rating for the company in a research note on Thursday, April 12th. ValuEngine downgraded Allegiant Air from a “buy” rating to a “hold” rating in a research note on Monday, April 9th. Finally, Wolfe Research upgraded Allegiant Air from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $164.36.

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In other news, CEO Maurice J. Gallagher, Jr. sold 12,645 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $163.40, for a total value of $2,066,193.00. Following the completion of the sale, the chief executive officer now directly owns 2,977,169 shares in the company, valued at approximately $486,469,414.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Maurice J. Gallagher, Jr. sold 182,182 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 3,071,196 shares of the company’s stock, valued at $513,442,547.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 196,597 shares of company stock valued at $32,838,900. 22.00% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Elkfork Partners LLC purchased a new position in shares of Allegiant Air in the 4th quarter worth approximately $184,000. Segall Bryant & Hamill LLC boosted its stake in shares of Allegiant Air by 35.0% in the 4th quarter. Segall Bryant & Hamill LLC now owns 62,947 shares of the transportation company’s stock worth $9,741,000 after buying an additional 16,321 shares during the last quarter. MetLife Investment Advisors LLC purchased a new position in shares of Allegiant Air in the 4th quarter worth approximately $940,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Allegiant Air by 36.0% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,711 shares of the transportation company’s stock worth $265,000 after buying an additional 453 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its stake in shares of Allegiant Air by 17.3% in the 4th quarter. Guggenheim Capital LLC now owns 4,968 shares of the transportation company’s stock worth $769,000 after buying an additional 734 shares during the last quarter. Hedge funds and other institutional investors own 90.40% of the company’s stock.

ALGT stock opened at $146.40 on Tuesday. Allegiant Air has a 52-week low of $111.54 and a 52-week high of $181.45. The stock has a market cap of $2,426.87, a price-to-earnings ratio of 15.33, a P/E/G ratio of 0.49 and a beta of 0.07. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.98 and a quick ratio of 0.95.

Allegiant Air (NASDAQ:ALGT) last announced its earnings results on Wednesday, January 31st. The transportation company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.93. Allegiant Air had a return on equity of 31.47% and a net margin of 12.96%. The firm had revenue of $378.56 million for the quarter, compared to the consensus estimate of $377.25 million. During the same quarter in the previous year, the business earned $2.48 EPS. The company’s revenue was up 12.7% compared to the same quarter last year. analysts forecast that Allegiant Air will post 10.82 EPS for the current year.

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Allegiant Air Company Profile

Allegiant Travel Company, a leisure travel company, focuses on the provision of 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.

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