Allegiant Travel (NASDAQ:ALGT) Director Sells $28,269.50 in Stock

Allegiant Travel (NASDAQ:ALGT) Director Sandra Douglass Morgan sold 350 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total value of $28,269.50. Following the sale, the director now directly owns 11,650 shares of the company’s stock, valued at $940,970.50. This represents a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Allegiant Travel Stock Performance

Allegiant Travel stock traded up $0.28 during trading on Wednesday, hitting $81.02. The stock had a trading volume of 251,280 shares, compared to its average volume of 372,434. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $86.94. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The stock’s 50 day moving average is $62.89 and its two-hundred day moving average is $52.92. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -54.01, a price-to-earnings-growth ratio of 6.95 and a beta of 1.61.

Wall Street Analysts Forecast Growth

ALGT has been the topic of a number of research analyst reports. Barclays boosted their target price on Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. TD Cowen boosted their target price on Allegiant Travel from $42.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. UBS Group initiated coverage on Allegiant Travel in a research note on Tuesday. They issued a “neutral” rating and a $16.00 target price on the stock. Evercore ISI boosted their target price on Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a research note on Thursday, October 3rd. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $83.00 target price on shares of Allegiant Travel in a research note on Friday, November 15th. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $65.44.

Hedge Funds Weigh In On Allegiant Travel

Institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in Allegiant Travel in the third quarter valued at approximately $63,540,000. Clearbridge Investments LLC purchased a new stake in shares of Allegiant Travel during the second quarter worth $8,959,000. XTX Topco Ltd purchased a new stake in shares of Allegiant Travel during the second quarter worth $764,000. Assenagon Asset Management S.A. purchased a new stake in shares of Allegiant Travel during the second quarter worth $285,000. Finally, Vanguard Group Inc. lifted its position in shares of Allegiant Travel by 2.3% during the first quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock worth $131,591,000 after acquiring an additional 38,612 shares in the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

About Allegiant Travel

Allegiant Travel Company, a leisure travel company, provides travel services and products to residents of under-served cities in the United States. The company offers scheduled air transportation on limited-frequency, nonstop flights between under-served cities and leisure destinations. As of February 1, 2024, it operated a fleet of 126 Airbus A320 series aircraft.