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

StockNews.com upgraded shares of Allegiant Travel (NASDAQ:ALGT) from a sell rating to a hold rating in a research note published on Thursday.

A number of other equities analysts have also weighed in on ALGT. TD Cowen lifted their price objective on shares of Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday. Wolfe Research downgraded shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Barclays increased their price target on shares of Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. The Goldman Sachs Group restated a “neutral” rating and issued a $83.00 price objective on shares of Allegiant Travel in a research report on Friday, November 15th. Finally, Susquehanna boosted their target price on Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $68.00.

Allegiant Travel Trading Up 1.6 %

Shares of ALGT stock opened at $82.12 on Thursday. The company has a market capitalization of $1.51 billion, a P/E ratio of -54.75, a price-to-earnings-growth ratio of 7.17 and a beta of 1.67. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. The business’s 50 day moving average is $73.31 and its two-hundred day moving average is $56.55. Allegiant Travel has a twelve month low of $36.08 and a twelve month high of $94.45.

Insider Activity

In other Allegiant Travel news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $84.46, for a total value of $2,391,822.74. Following the sale, the chairman now owns 2,147,730 shares of the company’s stock, valued at $181,397,275.80. This represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sandra Douglass Morgan sold 350 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total transaction of $28,269.50. Following the completion of the sale, the director now owns 11,650 shares in the company, valued at $940,970.50. This represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,600 shares of company stock worth $2,476,465. Company insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Donald Smith & CO. Inc. increased its position in Allegiant Travel by 166.7% during the second quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company’s stock worth $41,506,000 after buying an additional 516,545 shares in the last quarter. U S Global Investors Inc. boosted its stake in shares of Allegiant Travel by 51.9% during the third quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock valued at $40,823,000 after acquiring an additional 253,198 shares during the last quarter. Clearbridge Investments LLC purchased a new stake in Allegiant Travel during the 2nd quarter worth about $8,959,000. Millennium Management LLC increased its position in Allegiant Travel by 779.8% during the 2nd quarter. Millennium Management LLC now owns 169,459 shares of the transportation company’s stock worth $8,512,000 after purchasing an additional 150,197 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Allegiant Travel in the 3rd quarter valued at about $63,540,000. 85.81% of the stock is currently owned by institutional investors and hedge funds.

Allegiant Travel Company Profile

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.