Brandywine Global Investment Management LLC lessened its position in shares of Allegiant Travel Company (NASDAQ:ALGT) by 3.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,861 shares of the transportation company’s stock after selling 1,897 shares during the period. Brandywine Global Investment Management LLC owned 0.38% of Allegiant Travel worth $8,389,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ALGT. Pinebridge Investments L.P. boosted its holdings in Allegiant Travel by 1.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 1,733 shares of the transportation company’s stock worth $235,000 after buying an additional 18 shares during the period. D.A. Davidson & CO. grew its stake in Allegiant Travel by 2.0% in the 2nd quarter. D.A. Davidson & CO. now owns 1,176 shares of the transportation company’s stock valued at $159,000 after buying an additional 23 shares in the last quarter. First Midwest Bank Trust Division grew its stake in Allegiant Travel by 1.8% in the 2nd quarter. First Midwest Bank Trust Division now owns 3,659 shares of the transportation company’s stock valued at $496,000 after buying an additional 66 shares in the last quarter. Amalgamated Bank grew its stake in Allegiant Travel by 4.4% in the 2nd quarter. Amalgamated Bank now owns 1,823 shares of the transportation company’s stock valued at $247,000 after buying an additional 77 shares in the last quarter. Finally, Texas Permanent School Fund grew its stake in Allegiant Travel by 0.9% in the 2nd quarter. Texas Permanent School Fund now owns 9,596 shares of the transportation company’s stock valued at $1,301,000 after buying an additional 81 shares in the last quarter. 82.39% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Allegiant Travel Company (ALGT) opened at 130.05 on Tuesday. The firm has a 50 day moving average price of $122.66 and a 200 day moving average price of $139.40. Allegiant Travel Company has a 12-month low of $111.54 and a 12-month high of $182.25. The stock has a market cap of $2.11 billion, a PE ratio of 12.20 and a beta of 0.02.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Wednesday, July 26th. The transportation company reported $2.94 EPS 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 quarter in the previous year, the business earned $3.68 earnings per share. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, equities analysts expect that Allegiant Travel Company will post $9.10 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Friday, August 18th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.15%. The ex-dividend date was Wednesday, August 16th. Allegiant Travel’s dividend payout ratio is currently 26.24%.

Allegiant Travel announced that its board has approved a share buyback plan on Wednesday, July 26th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the transportation company to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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A number of equities research analysts have issued reports on ALGT shares. Morgan Stanley reissued an “equal weight” rating and set a $141.00 target price (down previously from $144.00) on shares of Allegiant Travel in a report on Monday, July 10th. Sidoti reaffirmed a “buy” rating and issued a $186.00 price target (up from $183.00) on shares of Allegiant Travel in a report on Wednesday, July 12th. BidaskClub lowered Allegiant Travel from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Barclays PLC reiterated a “sell” rating and issued a $130.00 price target on shares of Allegiant Travel in a research report on Thursday, September 14th. Finally, ValuEngine upgraded Allegiant Travel from a “hold” rating to a “buy” rating in a research report on Thursday, July 20th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $145.08.

Allegiant Travel Company Profile

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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