Allegiant Travel (NASDAQ:ALGT) Shares Sold by Invesco Ltd.

Invesco Ltd. lowered its stake in shares of Allegiant Travel (NASDAQ:ALGT) by 26.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 95,643 shares of the transportation company’s stock after selling 34,016 shares during the period. Invesco Ltd. owned about 0.52% of Allegiant Travel worth $9,002,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALGT. Crews Bank & Trust purchased a new position in shares of Allegiant Travel during the 4th quarter valued at approximately $25,000. Jones Financial Companies Lllp boosted its position in Allegiant Travel by 94.5% during the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock worth $43,000 after acquiring an additional 223 shares during the last quarter. Signaturefd LLC grew its position in shares of Allegiant Travel by 30.3% in the fourth quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock valued at $56,000 after purchasing an additional 138 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Allegiant Travel by 53.5% during the 4th quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after acquiring an additional 236 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in Allegiant Travel during the fourth quarter worth about $75,000. 85.81% of the stock is owned by institutional investors and hedge funds.

Allegiant Travel Stock Performance

Allegiant Travel stock opened at $45.60 on Thursday. Allegiant Travel has a one year low of $36.09 and a one year high of $107.57. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The firm has a market capitalization of $836.27 million, a PE ratio of -3.41 and a beta of 1.57. The stock’s 50 day moving average price is $57.50 and its 200 day moving average price is $73.72.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Tuesday, February 4th. The transportation company reported $2.10 EPS for the quarter, topping the consensus estimate of $0.48 by $1.62. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. As a group, sell-side analysts expect that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ALGT. Raymond James raised Allegiant Travel from an “outperform” rating to a “strong-buy” rating and decreased their price target for the company from $125.00 to $90.00 in a research note on Wednesday, April 2nd. StockNews.com upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Wednesday, January 15th. Bank of America reduced their target price on shares of Allegiant Travel from $95.00 to $50.00 and set an “underperform” rating on the stock in a report on Thursday, April 3rd. Barclays decreased their price target on Allegiant Travel from $100.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group increased their price target on shares of Allegiant Travel from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $67.00.

About Allegiant Travel

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 1, 2024, it operated a fleet of 126 Airbus A320 series aircraft.