Empowered Funds LLC Sells 20,795 Shares of Allegiant Travel Company $ALGT

Empowered Funds LLC lessened its holdings in shares of Allegiant Travel Company (NASDAQ:ALGT) by 22.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,587 shares of the transportation company’s stock after selling 20,795 shares during the quarter. Empowered Funds LLC’s holdings in Allegiant Travel were worth $5,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Parallel Advisors LLC increased its stake in shares of Allegiant Travel by 339.6% in the 1st quarter. Parallel Advisors LLC now owns 488 shares of the transportation company’s stock worth $40,000 after purchasing an additional 377 shares in the last quarter. Signaturefd LLC lifted its position in Allegiant Travel by 27.3% during the fourth quarter. Signaturefd LLC now owns 546 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 117 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Allegiant Travel by 43.7% during the second quarter. NewEdge Advisors LLC now owns 1,227 shares of the transportation company’s stock valued at $67,000 after purchasing an additional 373 shares during the period. iSAM Funds UK Ltd bought a new stake in Allegiant Travel during the third quarter valued at about $69,000. Finally, MidFirst Bank purchased a new stake in Allegiant Travel in the fourth quarter worth about $114,000. Institutional investors own 85.81% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on ALGT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allegiant Travel in a research note on Friday, May 29th. UBS Group upgraded Allegiant Travel from a “hold” rating to a “buy” rating in a research note on Wednesday, July 8th. Morgan Stanley increased their target price on shares of Allegiant Travel from $100.00 to $115.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Citigroup upgraded shares of Allegiant Travel from a “neutral” rating to a “buy” rating and raised their target price for the stock from $98.00 to $156.00 in a research note on Friday, June 26th. Finally, Bank of America raised their target price on shares of Allegiant Travel from $100.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 1st. Ten analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $128.08.

Allegiant Travel Trading Down 0.9%

Shares of ALGT stock opened at $98.08 on Friday. Allegiant Travel Company has a 52-week low of $42.56 and a 52-week high of $123.63. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.87 and a current ratio of 0.91. The firm has a market capitalization of $1.81 billion, a PE ratio of -49.04, a PEG ratio of 0.25 and a beta of 1.51. The stock has a fifty day simple moving average of $99.72 and a two-hundred day simple moving average of $92.07.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Thursday, April 30th. The transportation company reported $3.77 EPS for the quarter, beating the consensus estimate of $3.40 by $0.37. Allegiant Travel had a positive return on equity of 10.07% and a negative net margin of 1.30%.The business had revenue of $732.43 million for the quarter, compared to the consensus estimate of $711.01 million. During the same period in the previous year, the business earned $2.11 earnings per share. The business’s revenue was up 4.8% on a year-over-year basis. On average, analysts predict that Allegiant Travel Company will post 7.5 EPS for the current fiscal year.

Allegiant Travel Profile

Allegiant Travel Company is a holding company that operates Allegiant Air, a low?cost leisure airline offering scheduled and charter air service. The company focuses on connecting underserved secondary markets with popular vacation destinations across the United States. By targeting price?sensitive leisure travelers, Allegiant Air operates a point?to?point network that avoids the traditional hub?and?spoke model, providing non?stop flights from smaller cities to resort and entertainment hubs.

In addition to its core flight operations, Allegiant Travel Company offers packaged travel services that include hotel accommodations, rental cars and attraction tickets through its online portal.