Invesco Ltd. Sells 34,016 Shares of Allegiant Travel (NASDAQ:ALGT)

Invesco Ltd. lowered its stake in Allegiant Travel (NASDAQ:ALGT - Free Report) by 26.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ALGT. Signaturefd LLC grew its stake in Allegiant Travel by 30.3% during the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company's stock valued at $56,000 after acquiring an additional 138 shares in the last quarter. SeaCrest Wealth Management LLC boosted its holdings in shares of Allegiant Travel by 3.3% during the 4th quarter. SeaCrest Wealth Management LLC now owns 6,210 shares of the transportation company's stock worth $584,000 after buying an additional 200 shares during the period. Jones Financial Companies Lllp boosted its holdings in Allegiant Travel by 94.5% during the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company's stock valued at $43,000 after acquiring an additional 223 shares during the period. GAMMA Investing LLC increased its position in shares of Allegiant Travel by 53.5% during the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company's stock valued at $64,000 after purchasing an additional 236 shares during the period. Finally, Crews Bank & Trust bought a new position in Allegiant Travel in the fourth quarter worth $25,000. Institutional investors and hedge funds own 85.81% of the company's stock.

Allegiant Travel Trading Down 1.8 %

Shares of NASDAQ:ALGT traded down $0.85 during midday trading on Friday, hitting $46.12. 297,957 shares of the stock were exchanged, compared to its average volume of 424,714. The business's 50-day moving average price is $56.00 and its 200 day moving average price is $73.71. The stock has a market capitalization of $845.75 million, a price-to-earnings ratio of -3.45 and a beta of 1.57. Allegiant Travel has a 12 month low of $36.09 and a 12 month 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.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Analysts predict that Allegiant Travel will post 7.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

ALGT has been the subject of a number of analyst reports. Raymond James raised Allegiant Travel from an "outperform" rating to a "strong-buy" rating and decreased their price objective for the company from $125.00 to $90.00 in a report on Wednesday, April 2nd. UBS Group reduced their price target on shares of Allegiant Travel from $61.00 to $45.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Susquehanna dropped their price objective on shares of Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Morgan Stanley boosted their target price on Allegiant Travel from $90.00 to $95.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Finally, Bank of America dropped their price target on Allegiant Travel from $95.00 to $50.00 and set an "underperform" rating for the company in a report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Allegiant Travel currently has an average rating of "Hold" and an average target price of $67.00.

Allegiant Travel 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.