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

Allegiant Travel (NASDAQ:ALGT) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Saturday.

A number of other research analysts have also recently commented on ALGT. Raymond James upped their target price on Allegiant Travel from $75.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, December 30th. Morgan Stanley increased their target price on Allegiant Travel from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. Wolfe Research lowered shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $83.00 price target on shares of Allegiant Travel in a research note on Friday, November 15th. Finally, Evercore ISI boosted their price objective on shares of Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a research report on Thursday, October 3rd. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $69.11.

Allegiant Travel Stock Performance

Shares of NASDAQ:ALGT opened at $93.93 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $96.93. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -62.62, a PEG ratio of 7.17 and a beta of 1.67. The firm’s 50-day moving average is $79.70 and its 200 day moving average is $59.53.

Insider Transactions at Allegiant Travel

In other news, COO Keny Frank Wilper sold 635 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total value of $39,808.15. Following the completion of the transaction, the chief operating officer now directly owns 16,353 shares of the company’s stock, valued at approximately $1,025,169.57. The trade was a 3.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sandra Douglass Morgan sold 350 shares of the company’s stock in a transaction 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 owns 11,650 shares of the company’s stock, valued at $940,970.50. This trade represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,304 shares of company stock valued at $2,459,900. Company insiders own 15.80% of the company’s stock.

Institutional Trading of Allegiant Travel

A number of institutional investors have recently modified their holdings of ALGT. GAMMA Investing LLC lifted its position in Allegiant Travel by 53.5% during the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock valued at $64,000 after acquiring an additional 236 shares during the last quarter. Signaturefd LLC increased its position in shares of Allegiant Travel by 149.2% during the third quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after purchasing an additional 273 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of 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 purchasing an additional 304 shares during the last quarter. Privium Fund Management UK Ltd lifted its holdings in shares of Allegiant Travel by 3.5% during the 3rd quarter. Privium Fund Management UK Ltd now owns 10,549 shares of the transportation company’s stock valued at $581,000 after purchasing an additional 358 shares during the last quarter. Finally, SeaCrest Wealth Management LLC boosted its position in shares of Allegiant Travel by 8.1% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 6,010 shares of the transportation company’s stock worth $331,000 after purchasing an additional 450 shares in the last quarter. 85.81% of the stock is currently owned by institutional investors.

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.