Teachers Retirement System of The State of Kentucky held its stake in Allegiant Travel Company (NASDAQ:ALGT) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,100 shares of the transportation company’s stock at the close of the second quarter. Teachers Retirement System of The State of Kentucky’s holdings in Allegiant Travel were worth $692,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Bank of Montreal Can lifted its stake in Allegiant Travel by 28.9% in the second quarter. Bank of Montreal Can now owns 829 shares of the transportation company’s stock worth $112,000 after acquiring an additional 186 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Allegiant Travel by 17.5% in the second quarter. Victory Capital Management Inc. now owns 853 shares of the transportation company’s stock worth $116,000 after acquiring an additional 127 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Allegiant Travel in the first quarter worth approximately $146,000. Riverhead Capital Management LLC lifted its stake in Allegiant Travel by 119.8% in the second quarter. Riverhead Capital Management LLC now owns 1,099 shares of the transportation company’s stock worth $149,000 after acquiring an additional 599 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its stake in Allegiant Travel by 2.0% in the second quarter. D.A. Davidson & CO. now owns 1,176 shares of the transportation company’s stock worth $159,000 after acquiring an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ALGT has been the subject of a number of recent research reports. Macquarie initiated coverage on shares of Allegiant Travel in a research note on Monday, September 25th. They issued a “neutral” rating and a $119.00 price target for the company. Cowen and Company decreased their price target on shares of Allegiant Travel from $150.00 to $136.00 and set a “market perform” rating for the company in a research note on Wednesday, August 30th. Zacks Investment Research upgraded shares of Allegiant Travel from a “hold” rating to a “buy” rating and set a $159.00 price target for the company in a research note on Monday, July 17th. Citigroup Inc. decreased their price target on shares of Allegiant Travel from $175.00 to $168.00 and set a “buy” rating for the company in a research note on Tuesday, September 26th. Finally, ValuEngine upgraded shares of Allegiant Travel from a “hold” rating to a “buy” rating in a research note on Thursday, July 20th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. Allegiant Travel has a consensus rating of “Hold” and a consensus price target of $143.42.

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Shares of Allegiant Travel Company (NASDAQ ALGT) opened at 140.35 on Monday. The stock’s 50 day moving average is $126.74 and its 200 day moving average is $137.76. 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 $2.27 billion, a P/E ratio of 13.16 and a beta of 0.02.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Wednesday, July 26th. The transportation company reported $2.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.96 by ($0.02). Allegiant Travel had a return on equity of 40.40% and a net margin of 12.10%. The company had revenue of $400.60 million for the quarter, compared to analyst estimates of $399.58 million. During the same period in the previous year, the business posted $3.68 EPS. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. Analysts predict that Allegiant Travel Company will post $8.96 earnings per share for the current fiscal year.

Allegiant Travel announced that its board has authorized a share repurchase program on Wednesday, July 26th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the transportation company to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

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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