Ameriprise Financial Inc. reduced its stake in shares of Allegiant Travel Company (NASDAQ:ALGT) by 2.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 72,637 shares of the transportation company’s stock after selling 1,617 shares during the period. Ameriprise Financial Inc. owned approximately 0.45% of Allegiant Travel worth $9,849,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ALGT. Wells Fargo & Company MN boosted its position in shares of Allegiant Travel by 72.8% during the 1st quarter. Wells Fargo & Company MN now owns 22,360 shares of the transportation company’s stock worth $3,583,000 after purchasing an additional 9,423 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Allegiant Travel by 168.4% during the 1st quarter. First Trust Advisors LP now owns 7,022 shares of the transportation company’s stock worth $1,125,000 after purchasing an additional 4,406 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of Allegiant Travel by 62.4% during the 1st quarter. Parametric Portfolio Associates LLC now owns 35,604 shares of the transportation company’s stock worth $5,706,000 after purchasing an additional 13,679 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Allegiant Travel during the 1st quarter worth $183,000. Finally, Mason Street Advisors LLC boosted its position in shares of Allegiant Travel by 7.6% during the 1st quarter. Mason Street Advisors LLC now owns 3,073 shares of the transportation company’s stock worth $492,000 after purchasing an additional 216 shares in the last quarter. Institutional investors own 82.39% of the company’s stock.

Shares of Allegiant Travel Company (ALGT) opened at 141.10 on Friday. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 13.24 and a beta of 0.03. Allegiant Travel Company has a 52-week low of $111.54 and a 52-week high of $182.25. The company has a 50 day moving average of $125.80 and a 200 day moving average of $138.23.

Allegiant Travel (NASDAQ:ALGT) last announced its earnings results on Wednesday, July 26th. The transportation company reported $2.94 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.96 by ($0.02). Allegiant Travel had a net margin of 12.23% and a return on equity of 37.66%. The firm had revenue of $400.60 million for the quarter, compared to the consensus estimate of $399.58 million. During the same period in the prior year, the business earned $3.68 EPS. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. Analysts predict that Allegiant Travel Company will post $8.96 EPS for the current fiscal year.

Allegiant Travel declared that its Board of Directors has authorized a stock buyback plan on Wednesday, July 26th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the transportation company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

ALGT has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Allegiant Travel from a “hold” rating to a “buy” rating and set a $159.00 target price on the stock in a research report on Monday, July 17th. BidaskClub lowered shares of Allegiant Travel from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. Cowen and Company decreased their target price on shares of Allegiant Travel from $150.00 to $136.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 30th. ValuEngine upgraded shares of Allegiant Travel from a “hold” rating to a “buy” rating in a research report on Thursday, July 20th. Finally, Barclays PLC restated a “sell” rating and set a $130.00 target price on shares of Allegiant Travel in a research report on Thursday, September 14th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $143.42.

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About Allegiant Travel

Allegiant Travel Company is a leisure travel company. The Company is focused on providing travel services and products to residents of under-served cities in the United States. It also provides air transportation under fixed fee flying arrangements. The Company’s products and services include scheduled service air transportation, air-related ancillary products and services, third-party ancillary products and services and fixed fee contract air transportation.

Institutional Ownership by Quarter for Allegiant Travel (NASDAQ:ALGT)

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