State Street Corp increased its position in Allegiant Travel Co. (NASDAQ:ALGT) by 2.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 305,666 shares of the company’s stock after buying an additional 8,024 shares during the period. State Street Corp owned 1.83% of Allegiant Travel worth $54,424,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of ALGT. BlackRock Inc. raised its stake in shares of Allegiant Travel by 157.9% in the first quarter. BlackRock Inc. now owns 820 shares of the company’s stock worth $146,000 after buying an additional 502 shares during the last quarter. Moody Aldrich Partners LLC acquired a new stake in shares of Allegiant Travel during the first quarter worth about $363,000. Laurel Grove Capital LLC raised its stake in shares of Allegiant Travel by 181.5% in the first quarter. Laurel Grove Capital LLC now owns 3,800 shares of the company’s stock worth $677,000 after buying an additional 2,450 shares during the last quarter. Profit Investment Management LLC raised its stake in shares of Allegiant Travel by 30.2% in the first quarter. Profit Investment Management LLC now owns 6,794 shares of the company’s stock worth $1,210,000 after buying an additional 1,574 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of Allegiant Travel by 0.4% in the fourth quarter. Advisors Asset Management Inc. now owns 7,212 shares of the company’s stock worth $1,210,000 after buying an additional 29 shares during the last quarter.
Shares of Allegiant Travel Co. (NASDAQ:ALGT) traded down 4.55% during mid-day trading on Wednesday, reaching $134.20. 409,502 shares of the company’s stock traded hands. Allegiant Travel Co. has a 12-month low of $133.88 and a 12-month high of $238.13. The company’s 50-day moving average price is $145.23 and its 200-day moving average price is $156.97. The stock has a market capitalization of $2.24 billion and a PE ratio of 9.97.
A number of brokerages have issued reports on ALGT. Deutsche Bank AG reiterated a “buy” rating on shares of Allegiant Travel in a research note on Saturday, April 9th. Cowen and Company restated a “market perform” rating and set a $178.00 price objective (down previously from $180.00) on shares of Allegiant Travel in a research report on Thursday, April 28th. Sterne Agee CRT restated a “neutral” rating on shares of Allegiant Travel in a research report on Monday, May 16th. Barclays PLC lowered Allegiant Travel from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $205.00 to $188.00 in a research report on Friday, April 15th. Finally, Credit Suisse Group AG cut their price objective on Allegiant Travel from $180.00 to $169.00 and set a “neutral” rating for the company in a research report on Tuesday, April 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. Allegiant Travel currently has a consensus rating of “Hold” and an average price target of $200.91.
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. Its products and services include scheduled service air transportation, air-related ancillary products and services, third-party ancillary products and services, fixed fee contract air transportation and other revenue.
