Invesco Ltd. Acquires 3,596 Shares of Allegiant Travel (NASDAQ:ALGT)

Invesco Ltd. lifted its holdings in Allegiant Travel (NASDAQ:ALGT) by 12.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,403 shares of the transportation company’s stock after buying an additional 3,596 shares during the period. Invesco Ltd. owned about 0.20% of Allegiant Travel worth $4,793,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Allegiant Travel by 3.4% in the 2nd quarter. BlackRock Inc. now owns 1,885,795 shares of the transportation company’s stock worth $270,613,000 after buying an additional 61,271 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Allegiant Travel by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,339,656 shares of the transportation company’s stock worth $192,241,000 after buying an additional 17,691 shares during the last quarter. Wasatch Advisors Inc. increased its holdings in shares of Allegiant Travel by 20.9% in the 2nd quarter. Wasatch Advisors Inc. now owns 774,176 shares of the transportation company’s stock worth $111,094,000 after buying an additional 133,858 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Allegiant Travel by 3.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 230,258 shares of the transportation company’s stock worth $33,042,000 after buying an additional 8,392 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Allegiant Travel by 5.1% in the 2nd quarter. Northern Trust Corp now owns 185,116 shares of the transportation company’s stock worth $26,563,000 after buying an additional 9,041 shares during the last quarter. Hedge funds and other institutional investors own 80.55% of the company’s stock.

A number of analysts have recently weighed in on the stock. Buckingham Research boosted their target price on shares of Allegiant Travel from $186.00 to $191.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Morgan Stanley lifted their price target on shares of Allegiant Travel from $152.00 to $164.00 and gave the stock an “equal weight” rating in a research note on Thursday. Citigroup lifted their price target on shares of Allegiant Travel from $180.00 to $182.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. BidaskClub raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Saturday, September 7th. Finally, Sidoti lifted their price target on shares of Allegiant Travel from $178.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. Allegiant Travel currently has a consensus rating of “Buy” and an average price target of $165.17.

ALGT stock opened at $150.02 on Friday. Allegiant Travel has a 12 month low of $98.18 and a 12 month high of $157.50. The company has a current ratio of 1.29, a quick ratio of 1.24 and a debt-to-equity ratio of 1.66. The company has a 50-day moving average price of $147.13 and a 200 day moving average price of $142.89. The stock has a market cap of $2.45 billion, a PE ratio of 15.00, a P/E/G ratio of 0.40 and a beta of 0.92.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Wednesday, July 24th. The transportation company reported $4.33 EPS for the quarter, missing analysts’ consensus estimates of $4.67 by ($0.34). Allegiant Travel had a return on equity of 26.59% and a net margin of 10.54%. The firm had revenue of $491.80 million for the quarter, compared to analysts’ expectations of $504.81 million. During the same period in the prior year, the firm posted $3.10 earnings per share. Allegiant Travel’s revenue for the quarter was up 12.6% on a year-over-year basis. Sell-side analysts forecast that Allegiant Travel will post 14.13 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 20th were paid a dividend of $0.70 per share. The ex-dividend date was Thursday, September 19th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.87%. Allegiant Travel’s dividend payout ratio is presently 28.00%.

In other Allegiant Travel news, CEO Maurice J. Gallagher, Jr. sold 19,269 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $151.14, for a total value of $2,912,316.66. Following the completion of the sale, the chief executive officer now directly owns 2,901,373 shares of the company’s stock, valued at approximately $438,513,515.22. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Maurice J. Gallagher, Jr. sold 40,731 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $154.40, for a total transaction of $6,288,866.40. Following the completion of the sale, the chief executive officer now directly owns 2,889,421 shares of the company’s stock, valued at $446,126,602.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,000 shares of company stock valued at $9,491,113. 20.90% of the stock is owned by corporate insiders.

Allegiant Travel Company Profile

Allegiant Travel Company, a leisure travel company, provides 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. As of February 15, 2019, it operated a fleet of 79 Airbus A320 series aircraft.

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Institutional Ownership by Quarter for Allegiant Travel (NASDAQ:ALGT)

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