I do have to say I am not happy to see this shelf filing for $150M shares; all the proceeds go to insiders and nothing to the company. But this is par for the course for what the stock market has become - a way to transfer money from many to the few via their corporation.
- Allegiant Travel Co., an airline and travel operator, filed a shelf registration with regulators Tuesday for certain stockholders to sell up to $150 million in common shares and other securities. Allegiant will not receive any proceeds from the sale of the stock by its shareholders, the company said.
The stock is now approaching 10x 2009 estimates. (pre dilution)
[Apr 20: Allegiant Travel Continues to Impress]
[Feb 19: Allegiant Travel in Wall Street Journal]
[Feb 4: Allegiant Travel Position Started]
[Jan 27: Allegiant Travel Continues to Execute; Buyback Announced]
[Jan 7: Allegiant Travel December Traffic]
[Jan 5: Beginning Allegiant Travel] (old portfolio)
Long Allegiant Travel in fund; no personal position
7 comments:
More insider selling taking advantage of this rally. Seems to be a trend:
http://www.bloomberg.com/apps/news?pid=20601087&sid=au8cyqeJFifg
Might the insiders know something? They're probably all sitting with jaws dropped too, wondering how the market could be so positive.
Joyous CEOs seen high 5ing outside corporate suites across America at ability to unload stock on market participants with facilitation of Treasury/Fed. A new form of stimulus - another of the top down methodologies.
I'm with you on the ALGT, brotha. Keep the faith (but hedge, of course :)
insider selling...swine flu scare....it doesn't look like a long to me....but what the hell do I know...
no dilution, just an "orderly" way for insiders to sell their stock.
Agree this may be in part due to the swine flu scare. Asian airlines are selling off tonight. Look for cruise stocks (CCL and RCL) to possibly sell off as well.
Looks like they sold and got out at the right time. Maybe this is still the right time to get out of the market.
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