Allegiant Travel (NASDAQ:ALGT) Trading Up 5%

Allegiant Travel (NASDAQ:ALGT)’s stock price shot up 5% during mid-day trading on Tuesday . The company traded as high as $43.13 and last traded at $43.13. 10,735 shares changed hands during trading, a decline of 97% from the average session volume of 349,999 shares. The stock had previously closed at $41.07.

Analysts Set New Price Targets

ALGT has been the topic of a number of recent analyst reports. TD Cowen cut their price objective on Allegiant Travel from $39.00 to $33.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft cut shares of Allegiant Travel from a “buy” rating to a “hold” rating and cut their price target for the company from $75.00 to $53.00 in a report on Monday, July 8th. Morgan Stanley decreased their target price on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating for the company in a research report on Monday, July 8th. Susquehanna cut their price objective on shares of Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Finally, Evercore ISI reduced their price target on Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating for the company in a report on Monday, July 15th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $59.50.

Allegiant Travel Stock Up 3.6 %

The company’s 50 day moving average price is $44.26 and its two-hundred day moving average price is $53.79. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.30. The firm has a market cap of $775.41 million, a PE ratio of 13.65, a PEG ratio of 5.50 and a beta of 1.64.

Allegiant Travel (NASDAQ:ALGT) last released its earnings results on Wednesday, July 31st. The transportation company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.93. The company had revenue of $666.28 million during the quarter, compared to analyst estimates of $657.74 million. Allegiant Travel had a negative net margin of 0.57% and a positive return on equity of 3.48%. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.35 EPS. On average, equities research analysts expect that Allegiant Travel will post 0.96 EPS for the current fiscal year.

Insider Transactions at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the sale, the director now owns 7,490 shares in the company, valued at $337,050. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

Hedge funds and other institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC lifted its position in Allegiant Travel by 6.9% during the first quarter. ProShare Advisors LLC now owns 3,155 shares of the transportation company’s stock valued at $237,000 after purchasing an additional 203 shares during the period. 180 Wealth Advisors LLC increased its position in shares of Allegiant Travel by 5.7% during the first quarter. 180 Wealth Advisors LLC now owns 7,291 shares of the transportation company’s stock valued at $548,000 after acquiring an additional 392 shares during the last quarter. Privium Fund Management UK Ltd lifted its stake in Allegiant Travel by 4.5% during the second quarter. Privium Fund Management UK Ltd now owns 10,191 shares of the transportation company’s stock worth $504,000 after purchasing an additional 438 shares in the last quarter. SeaCrest Wealth Management LLC boosted its holdings in Allegiant Travel by 10.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,560 shares of the transportation company’s stock valued at $279,000 after acquiring an additional 535 shares during the period. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Allegiant Travel by 7.9% in the second quarter. Harbor Capital Advisors Inc. now owns 7,591 shares of the transportation company’s stock valued at $381,000 after purchasing an additional 553 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.