Piedmont Investment Advisors LLC purchased a new position in shares of Allegiant Travel Company (NASDAQ:ALGT) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,842 shares of the transportation company’s stock, valued at approximately $385,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Marshall Wace North America L.P. purchased a new position in Allegiant Travel during the 2nd quarter worth approximately $919,000. BNP Paribas Arbitrage SA raised its position in Allegiant Travel by 45.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,054 shares of the transportation company’s stock worth $685,000 after buying an additional 1,591 shares during the last quarter. Vanguard Group Inc. raised its position in Allegiant Travel by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 1,157,458 shares of the transportation company’s stock worth $185,482,000 after buying an additional 51,487 shares during the last quarter. BlackRock Inc. raised its position in Allegiant Travel by 141,260.2% during the 1st quarter. BlackRock Inc. now owns 1,546,481 shares of the transportation company’s stock worth $247,824,000 after buying an additional 1,545,387 shares during the last quarter. Finally, GHP Investment Advisors Inc. raised its position in Allegiant Travel by 14.4% during the 2nd quarter. GHP Investment Advisors Inc. now owns 7,901 shares of the transportation company’s stock worth $1,071,000 after buying an additional 992 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

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A number of equities analysts have issued reports on the stock. ValuEngine raised shares of Allegiant Travel from a “hold” rating to a “buy” rating in a research report on Thursday, July 20th. Cowen and Company reissued a “market perform” rating and set a $150.00 price target (down from $157.00) on shares of Allegiant Travel in a research report on Thursday, July 27th. Zacks Investment Research raised 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 report on Monday, July 17th. Sidoti reissued a “buy” rating and set a $186.00 price target (up from $183.00) on shares of Allegiant Travel in a research report on Wednesday, July 12th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $141.00 price target (down from $144.00) on shares of Allegiant Travel in a research report on Monday, July 10th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $144.17.

Shares of Allegiant Travel Company (NASDAQ ALGT) opened at 140.30 on Friday. The stock’s 50 day moving average is $129.61 and its 200-day moving average is $137.37. Allegiant Travel Company has a 52 week low of $111.54 and a 52 week high of $182.25. The firm has a market cap of $2.27 billion, a PE ratio of 13.16 and a beta of 0.03.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Wednesday, July 26th. The transportation company reported $2.94 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.96 by ($0.02). Allegiant Travel had a return on equity of 37.66% and a net margin of 12.23%. The business had revenue of $400.60 million for the quarter, compared to analyst estimates of $399.58 million. During the same period in the prior year, the company earned $3.68 EPS. The company’s revenue was up 16.1% on a year-over-year basis. On average, equities analysts predict that Allegiant Travel Company will post $8.89 EPS for the current fiscal year.

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

Allegiant Travel 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.

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

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