Allegiant Travel (NASDAQ:ALGT) Upgraded at StockNews.com

StockNews.com upgraded shares of Allegiant Travel (NASDAQ:ALGT) from a sell rating to a hold rating in a report released on Saturday morning.

ALGT has been the subject of several other research reports. Barclays upped their price target on shares of Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. UBS Group assumed coverage on Allegiant Travel in a research note on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 price target on the stock. Evercore ISI increased their price objective on Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. TD Cowen lifted their target price on shares of Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, December 17th. Finally, Raymond James upped their target price on shares of Allegiant Travel from $75.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, December 30th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Allegiant Travel has a consensus rating of “Hold” and an average price target of $69.11.

Allegiant Travel Stock Performance

Shares of NASDAQ ALGT opened at $98.12 on Friday. The company has a market capitalization of $1.80 billion, a PE ratio of -65.41, a price-to-earnings-growth ratio of 7.17 and a beta of 1.62. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The company’s fifty day moving average price is $80.38 and its 200 day moving average price is $59.84. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $100.12.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $84.46, for a total transaction of $2,391,822.74. Following the sale, the chairman now directly owns 2,147,730 shares in the company, valued at $181,397,275.80. This represents a 1.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Keny Frank Wilper sold 635 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total value of $39,808.15. Following the transaction, the chief operating officer now directly owns 16,353 shares of the company’s stock, valued at approximately $1,025,169.57. This represents a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,304 shares of company stock worth $2,459,900 in the last ninety days. 15.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Allegiant Travel

Institutional investors and hedge funds have recently modified their holdings of the company. Signaturefd LLC boosted its holdings in Allegiant Travel by 149.2% in the third quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 273 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Allegiant Travel by 136.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock valued at $29,000 after buying an additional 304 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Allegiant Travel by 53.5% in the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock valued at $64,000 after buying an additional 236 shares during the period. NBC Securities Inc. lifted its stake in Allegiant Travel by 2,827.9% during the third quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock valued at $69,000 after purchasing an additional 1,216 shares during the last quarter. Finally, Headlands Technologies LLC lifted its holdings in shares of Allegiant Travel by 170.6% during the second quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock valued at $127,000 after purchasing an additional 1,590 shares during the last quarter. Institutional investors and hedge funds 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.