Vanguard Group Inc. raised its stake in Allegiant Travel Company (NASDAQ:ALGT) by 4.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,157,458 shares of the transportation company’s stock after buying an additional 51,487 shares during the period. Vanguard Group Inc.’s holdings in Allegiant Travel were worth $185,482,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in ALGT. Norges Bank purchased a new position in Allegiant Travel during the fourth quarter valued at approximately $11,706,000. GHP Investment Advisors Inc. boosted its position in Allegiant Travel by 20.7% in the first quarter. GHP Investment Advisors Inc. now owns 6,909 shares of the transportation company’s stock valued at $1,107,000 after buying an additional 1,183 shares during the period. Americafirst Capital Management LLC purchased a new position in Allegiant Travel during the first quarter valued at approximately $180,000. Ameriprise Financial Inc. boosted its position in Allegiant Travel by 1.6% in the first quarter. Ameriprise Financial Inc. now owns 74,254 shares of the transportation company’s stock valued at $11,898,000 after buying an additional 1,135 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in Allegiant Travel by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 5,400 shares of the transportation company’s stock valued at $865,000 after buying an additional 100 shares during the period. 83.60% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Allegiant Travel Company (NASDAQ ALGT) opened at 143.20 on Tuesday. The company’s 50-day moving average is $141.42 and its 200-day moving average is $158.54. Allegiant Travel Company has a 52 week low of $121.70 and a 52 week high of $182.25. The firm has a market cap of $2.35 billion, a PE ratio of 12.56 and a beta of -0.04.
Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings results on Tuesday, April 25th. The transportation company reported $2.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.58 by $0.08. The company had revenue of $375.80 million during the quarter, compared to the consensus estimate of $374.99 million. Allegiant Travel had a return on equity of 41.46% and a net margin of 13.61%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $4.29 EPS. Analysts forecast that Allegiant Travel Company will post $9.84 EPS for the current fiscal year.
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Several research analysts have commented on ALGT shares. Zacks Investment Research cut shares of Allegiant Travel from a “hold” rating to a “sell” rating in a report on Friday, April 14th. Stifel Nicolaus reiterated a “hold” rating and set a $173.00 price target on shares of Allegiant Travel in a report on Wednesday, April 19th. ValuEngine cut shares of Allegiant Travel from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Morgan Stanley reiterated an “equal weight” rating and set a $141.00 price target (down previously from $144.00) on shares of Allegiant Travel in a report on Monday, July 10th. Finally, Bank of America Corporation cut shares of Allegiant Travel from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $205.00 to $175.00 in a report on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $161.08.
In other Allegiant Travel news, SVP Gregory Clark Anderson sold 1,500 shares of Allegiant Travel stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $142.08, for a total value of $213,120.00. Following the completion of the transaction, the senior vice president now owns 15,054 shares of the company’s stock, valued at $2,138,872.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 22.00% of the company’s stock.
About Allegiant Travel
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. It also provides air transportation under fixed fee flying arrangements. The Company’s products and services include scheduled service air transportation, air-related ancillary products and services, third-party ancillary products and services and fixed fee contract air transportation.
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