California State Teachers Retirement System lessened its holdings in shares of Allegiant Travel (NASDAQ:ALGT) by 12.6% during the third quarter, Holdings Channel reports. The institutional investor owned 20,268 shares of the transportation company’s stock after selling 2,922 shares during the quarter. California State Teachers Retirement System’s holdings in Allegiant Travel were worth $2,669,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ALGT. Schwab Charles Investment Management Inc. raised its holdings in shares of Allegiant Travel by 8.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 79,170 shares of the transportation company’s stock valued at $10,736,000 after buying an additional 5,991 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Allegiant Travel during the second quarter valued at approximately $339,000. Legal & General Group Plc raised its holdings in shares of Allegiant Travel by 10.7% during the second quarter. Legal & General Group Plc now owns 24,431 shares of the transportation company’s stock valued at $3,315,000 after buying an additional 2,363 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Allegiant Travel by 17.5% during the second quarter. Victory Capital Management Inc. now owns 853 shares of the transportation company’s stock valued at $116,000 after buying an additional 127 shares during the last quarter. Finally, Riverhead Capital Management LLC raised its holdings in shares of Allegiant Travel by 119.8% during the second quarter. Riverhead Capital Management LLC now owns 1,099 shares of the transportation company’s stock valued at $149,000 after buying an additional 599 shares during the last quarter. 86.15% of the stock is currently owned by institutional investors.

Shares of Allegiant Travel (NASDAQ ALGT) opened at $165.50 on Friday. Allegiant Travel has a twelve month low of $111.54 and a twelve month high of $180.40. The company has a market capitalization of $2,623.11, a P/E ratio of 17.52 and a beta of 0.16. The company has a current ratio of 1.05, a quick ratio of 1.01 and a debt-to-equity ratio of 1.78.

Allegiant Travel (NASDAQ:ALGT) last announced its earnings results on Wednesday, October 25th. The transportation company reported $1.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.08. Allegiant Travel had a return on equity of 32.19% and a net margin of 10.52%. The firm had revenue of $348.80 million for the quarter, compared to analysts’ expectations of $349.79 million. During the same quarter in the previous year, the company earned $2.75 earnings per share. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. analysts expect that Allegiant Travel will post 8.64 EPS for the current year.

A number of research firms have recently weighed in on ALGT. Cowen reaffirmed a “market perform” rating and set a $158.00 price target (up previously from $145.00) on shares of Allegiant Travel in a report on Friday, December 1st. Deutsche Bank raised Allegiant Travel from a “hold” rating to a “buy” rating and lifted their price target for the company from $130.00 to $180.00 in a report on Thursday, December 21st. Stifel Nicolaus reaffirmed a “hold” rating and set a $150.00 price target (up previously from $135.00) on shares of Allegiant Travel in a report on Wednesday. Bank of America raised Allegiant Travel from a “neutral” rating to a “buy” rating and set a $145.00 target price on the stock in a report on Tuesday. Finally, Raymond James Financial reissued a “hold” rating on shares of Allegiant Travel in a report on Monday, December 4th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. Allegiant Travel has a consensus rating of “Hold” and an average target price of $152.55.

In other Allegiant Travel news, CEO Maurice J. Gallagher, Jr. sold 16,018 shares of Allegiant Travel stock in a transaction that occurred on Friday, December 28th. The shares were sold at an average price of $155.82, for a total value of $2,495,924.76. Following the transaction, the chief executive officer now owns 3,144,674 shares in the company, valued at $490,003,102.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President John Redmond purchased 11,000 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was acquired at an average price of $138.28 per share, for a total transaction of $1,521,080.00. Following the transaction, the president now owns 92,574 shares of the company’s stock, valued at approximately $12,801,132.72. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 40,708 shares of company stock worth $6,227,913. 21.00% of the stock is currently owned by company insiders.

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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.

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

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