Invesco Inc. increased its stake in Allegiant Travel (NASDAQ:ALGT – Free Report) by 17.3% in the 3rd quarter, according to the company's latest filings with the SEC. The fund now owns 80,583 shares of the company's stock after purchasing an additional 11,858 shares during the quarter. Invesco held approximately 0.44% of Allegiant Travel's shares, valued at $6,194,000, at the end of the most recent reporting period.
A number of other large investors have also recently increased or decreased their stakes in the stock. Illinois City Retirement Fund acquired a new stake in Allegiant Travel in the 3rd quarter valued at $715,000. Janney Montgomery Scott LLC grew her position in Allegiant Travel by 53.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 6,678 shares of the company's stock valued at $513,000 after acquiring an additional 2,321 shares during the last quarter. Jump Financial LLC purchased new shares in His Allegiant Travel during the 3rd quarter valued at approximately $2,203,000. Campbell & CO Investment Adviser LLC increased his position in shares of Allegiant Travel by 1,160.0% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 23,284 shares of the company's stock valued at $1,790,000 after purchasing an additional 21,436 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Allegiant Travel by 157.6% in the 3rd quarter. Victory Capital Management Inc. now owns 11,398 shares of the company's stock valued at $876,000 after purchasing an additional 6,973 shares during the last quarter. Institutional investors own 81.23% of the company's stock.
Analyst sets new price target
Many analysts have published reports on the company. Susquehanna lowered their target price on Allegiant Travel from $80.00 to $76.00 and set a “neutral” rating on the stock in a report on Friday, February 9th. TD Cowen increased his target price on shares of Allegiant Travel from $82.00 to $85.00 and gave the company a “market perform” rating in a research note on Tuesday, February 6th. Finally, Raymond James lowered their target price on Allegiant Travel from $110.00 to $100.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, five have rated it with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $96.57, based on data from MarketBeat.
Check out the latest report on Allegiant Travel.
Insiders place bets
In other news, Director Gary Elmer sold 2,000 shares of the company's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $79.10, for a total transaction of $158,200.00. Following the transaction, the director now directly owns 8,490 shares of the company's stock, valued at $671,559. The sale was disclosed in a document filed with the Securities and Exchange Commission, which is available on the SEC's website. Insiders own 17.50% of the company's shares.
loyalty travel price performance
NASDAQ:ALGT opened at $72.49 on Monday. The company has a market capitalization of $1.33 billion, a P/E ratio of 11.47x, a price-to-earnings ratio of 0.87x, and a beta of 1.58x. The company's 50-day moving average price is $77.44 and its 200-day moving average price is $76.29. The company has a quick ratio of 0.80, a current ratio of 0.83, and a debt-to-equity ratio of 1.37. Allegiant Travel has a 12-month low of $54.87 and a 12-month high of $130.93.
Allegiant Travel (NASDAQ:ALGT – Get Free Report) last released its quarterly earnings results on Monday, February 5th. The company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.52. Allegiant Travel had a return on equity of 3.80% and a net profit margin of 4.54%. The business had revenue of $611.00 million for the quarter, compared to analyst estimates of $596.42 million. In the same period last year, the company's EPS was $3.17. His Allegiant Travel revenue for the quarter was down 0.1% year over year. Stock analysts, on average, expect Allegiant Travel to post 6.68 EPS for the current fiscal year.
Allegiant Travel Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th, he was awarded a dividend of $0.60 per share. The ex-dividend date for this dividend was Wednesday, February 14th. This equates to an annual dividend of $2.40 and a yield of 3.31%. Allegiant Travel's dividend payout ratio (DPR) is 37.97%.
Allegiant Travel Company Profile
(Free report)
Allegiant Travel Company is a leisure travel company that provides travel services and products to residents of underserved cities in the United States. The company provides scheduled air transportation between underserved cities and leisure destinations on a limited number of direct flights. As of February 1, 2023, it operates 122 Airbus A320 series aircraft.
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