Allegiant Travel (NASDAQ:ALGT) Stock Price Up 8.2%

Allegiant Travel (NASDAQ:ALGT) rose 8.2% on Thursday . The company traded as high as $39.42 and last traded at $39.33. Approximately 149,288 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 353,625 shares. The stock had previously closed at $36.36.

Wall Street Analyst Weigh In

ALGT has been the topic of several recent research reports. Evercore ISI lowered their price objective on shares of Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating on the stock in a research note on Monday, July 15th. Deutsche Bank Aktiengesellschaft downgraded Allegiant Travel from a “buy” rating to a “hold” rating and cut their price objective for the company from $75.00 to $53.00 in a research report on Monday, July 8th. Susquehanna reduced their price objective on Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday. Morgan Stanley reduced their target price on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. Finally, TD Cowen dropped their target price on shares of Allegiant Travel from $39.00 to $33.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $59.50.

Allegiant Travel Stock Down 3.5 %

The company has a debt-to-equity ratio of 1.35, a current ratio of 0.76 and a quick ratio of 0.74. The stock has a market cap of $712.87 million, a price-to-earnings ratio of 12.37, a P/E/G ratio of 2.06 and a beta of 1.66. The business has a fifty day moving average of $48.31 and a 200 day moving average of $59.46.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings data on Wednesday, July 31st. The transportation company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.93. Allegiant Travel had a negative net margin of 0.57% and a positive return on equity of 3.48%. The firm had revenue of $666.28 million during the quarter, compared to analysts’ expectations of $657.74 million. During the same period in the prior year, the company posted $4.35 earnings per share. Allegiant Travel’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities analysts predict that Allegiant Travel will post 3.08 earnings per share for the current year.

Insider Buying and Selling at Allegiant Travel

In related news, COO Keny Frank Wilper sold 1,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $51.00, for a total transaction of $51,000.00. Following the completion of the sale, the chief operating officer now directly owns 9,422 shares of the company’s stock, valued at approximately $480,522. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO Keny Frank Wilper sold 1,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $51.00, for a total transaction of $51,000.00. Following the transaction, the chief operating officer now directly owns 9,422 shares in the company, valued at $480,522. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert Paul Wilson III sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $53.00, for a total value of $39,750.00. Following the sale, the executive vice president now owns 74,948 shares in the company, valued at $3,972,244. The disclosure for this sale can be found here. Corporate insiders own 17.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new position in Allegiant Travel during the 4th quarter valued at about $141,350,000. Louisiana State Employees Retirement System bought a new position in shares of Allegiant Travel in the fourth quarter valued at approximately $620,000. Everence Capital Management Inc. acquired a new position in shares of Allegiant Travel in the 4th quarter worth approximately $208,000. Tradewinds Capital Management LLC bought a new stake in Allegiant Travel during the 4th quarter worth approximately $83,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Allegiant Travel during the 4th quarter valued at $7,187,000. 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.