First Mercantile Trust Co Lowers stake in Allegiant Travel Company (ALGT)

Allegiant Travel Company (ALGT) : First Mercantile Trust Co reduced its stake in Allegiant Travel Company by 10.74% during the most recent quarter end. The investment management company now holds a total of 5,262 shares of Allegiant Travel Company which is valued at $762,622 after selling 633 shares in Allegiant Travel Company , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Allegiant Travel Company makes up approximately 0.10% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Capital Investment Services Of America boosted its stake in ALGT in the latest quarter, The investment management firm added 4,735 additional shares and now holds a total of 53,116 shares of Allegiant Travel Company which is valued at $7,698,102. Allegiant Travel Company makes up approx 1.48% of Capital Investment Services Of America’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in ALGT by selling 2,145 shares or 49.06% in the most recent quarter. The Hedge Fund company now holds 2,227 shares of ALGT which is valued at $310,956.

Allegiant Travel Company opened for trading at $143.37 and hit $149.24 on the upside on Friday, eventually ending the session at $144.93, with a gain of 1.81% or 2.57 points. The heightened volatility saw the trading volume jump to 3,52,559 shares. Company has a market cap of $2,389 M.

On the company’s financial health, Allegiant Travel Company reported $3.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Jul 29, 2016. Analyst had a consensus of $3.55. The company had revenue of $344.90 million for the quarter, compared to analysts expectations of $344.30 million. The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.18 EPS.

Many Wall Street Analysts have commented on Allegiant Travel Company. Imperial Capital Initiated Allegiant Travel Company on Oct 7, 2016 to “Outperform”, Price Target of the shares are set at $164.Shares were Reiterated by Cowen on Aug 1, 2016 to “Market Perform” and Lowered the Price Target to $ 147 from a previous price target of $165 .

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. The Company’s 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. Scheduled service air transportation includes scheduled air transportation on limited-frequency non-stop flights between under-served cities and leisure destinations. The Company provides unbundled air-related services and products in conjunction with air transportation for an additional cost to customers. Third-party ancillary products and services comprise offering third-party travel products. Fixed fee contract air transportation includes providing air transportation through fixed fee agreements and charter service on a year-round and ad-hoc basis.

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