Invesco Ltd. Increases Stock Position in Allegiant Travel Company $ALGT

Key Points

• Invesco Ltd. increased its stake in Allegiant Travel Company by 22.1% during the first quarter, resulting in ownership of approximately 116,737 shares valued at $6,029,000.
• Institutional investors and hedge funds collectively own 85.81% of Allegiant Travel's stock, with several firms like Charles Schwab and US Bancorp also increasing their holdings in the first quarter.
• Allegiant Travel recently reported earnings of $1.23 per share, exceeding analysts’ expectations, with a quarterly revenue of $689.4 million, up 3.5% compared to the previous year.

Invesco Ltd. boosted its position in Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 22.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,737 shares of the transportation company's stock after buying an additional 21,094 shares during the period. Invesco Ltd. owned approximately 0.64% of Allegiant Travel worth $6,029,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Allegiant Travel by 10.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 337,120 shares of the transportation company's stock worth $17,412,000 after buying an additional 32,478 shares during the last quarter. US Bancorp DE grew its holdings in shares of Allegiant Travel by 15.9% during the 1st quarter. US Bancorp DE now owns 5,825 shares of the transportation company's stock worth $301,000 after purchasing an additional 800 shares during the period. Federated Hermes Inc. acquired a new position in Allegiant Travel during the 1st quarter worth approximately $9,864,000. Meeder Asset Management Inc. lifted its position in Allegiant Travel by 196.2% during the 1st quarter. Meeder Asset Management Inc. now owns 14,150 shares of the transportation company's stock worth $731,000 after acquiring an additional 9,373 shares in the last quarter. Finally, Picton Mahoney Asset Management raised its position in shares of Allegiant Travel by 6.6% in the 1st quarter. Picton Mahoney Asset Management now owns 5,550 shares of the transportation company's stock valued at $286,000 after purchasing an additional 344 shares in the last quarter. Institutional investors and hedge funds own 85.81% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Evercore ISI raised Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 price target on the stock in a report on Tuesday, July 1st. Bank of America dropped their price target on Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating on the stock in a research note on Tuesday, July 8th. Susquehanna reissued a "neutral" rating and issued a $50.00 price target (up previously from $45.00) on shares of Allegiant Travel in a research note on Tuesday, August 5th. UBS Group decreased their price objective on Allegiant Travel from $59.00 to $52.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Finally, Morgan Stanley reduced their price target on Allegiant Travel from $85.00 to $83.00 and set an "equal weight" rating for the company in a report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $64.33.

Allegiant Travel Trading Up 4.1%

Shares of ALGT opened at $62.04 on Wednesday. Allegiant Travel Company has a 52-week low of $39.10 and a 52-week high of $107.57. The business's fifty day moving average is $54.14 and its 200-day moving average is $56.18. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.07 and a current ratio of 1.10. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -3.89, a PEG ratio of 0.54 and a beta of 1.72.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The transportation company reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.40. The business had revenue of $689.40 million for the quarter, compared to analyst estimates of $685.58 million. Allegiant Travel had a positive return on equity of 5.00% and a negative net margin of 11.10%.Allegiant Travel's quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS. Allegiant Travel has set its FY 2015 guidance at 2.250- EPS. Q3 2025 guidance at -2.750--1.750 EPS. Equities analysts anticipate that Allegiant Travel Company will post 7.7 EPS for the current fiscal year.

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.

Want to see what other hedge funds are holding ALGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allegiant Travel Company (NASDAQ:ALGT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.