Invesco Ltd. Cuts Stock Position in Allegiant Travel (NASDAQ:ALGT)

Invesco Ltd. reduced its holdings in Allegiant Travel (NASDAQ:ALGT - Free Report) by 26.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 95,643 shares of the transportation company's stock after selling 34,016 shares during the quarter. Invesco Ltd. owned approximately 0.52% of Allegiant Travel worth $9,002,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Bank of Montreal Can acquired a new stake in Allegiant Travel in the fourth quarter worth $213,000. Russell Investments Group Ltd. grew its holdings in Allegiant Travel by 1,486.7% during the fourth quarter. Russell Investments Group Ltd. now owns 1,904 shares of the transportation company's stock valued at $179,000 after purchasing an additional 1,784 shares during the period. Wells Fargo & Company MN lifted its position in shares of Allegiant Travel by 22.6% during the fourth quarter. Wells Fargo & Company MN now owns 11,184 shares of the transportation company's stock worth $1,053,000 after acquiring an additional 2,059 shares in the last quarter. Donald Smith & CO. Inc. raised its position in shares of Allegiant Travel by 2.5% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,018,449 shares of the transportation company's stock worth $95,856,000 after buying an additional 24,975 shares in the last quarter. Finally, ExodusPoint Capital Management LP purchased a new stake in shares of Allegiant Travel in the fourth quarter worth $3,652,000. 85.81% of the stock is currently owned by institutional investors and hedge funds.

Allegiant Travel Trading Down 1.9 %

Shares of Allegiant Travel stock traded down $0.86 during trading on Tuesday, hitting $44.99. The stock had a trading volume of 42,634 shares, compared to its average volume of 422,727. The firm's fifty day simple moving average is $55.20 and its 200-day simple moving average is $73.73. The stock has a market cap of $824.93 million, a PE ratio of -3.36 and a beta of 1.57. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. Allegiant Travel has a 12 month low of $36.09 and a 12 month high of $107.57.

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. StockNews.com raised Allegiant Travel from a "sell" rating to a "hold" rating in a research note on Wednesday, January 15th. UBS Group reduced their price objective on Allegiant Travel from $61.00 to $45.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Bank of America reduced their price objective on Allegiant Travel from $95.00 to $50.00 and set an "underperform" rating on the stock in a research note on Thursday, April 3rd. Raymond James raised Allegiant Travel from an "outperform" rating to a "strong-buy" rating and cut their target price for the stock from $125.00 to $90.00 in a research note on Wednesday, April 2nd. Finally, Susquehanna reduced their price target on Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $67.00.

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