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

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

A number of other equities research analysts also recently issued reports on the company. Susquehanna boosted their price target on Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Barclays boosted their price target on Allegiant Travel from $50.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Wolfe Research downgraded Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. TD Cowen boosted their price target on Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday, December 17th. Finally, Evercore ISI boosted their price target on 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, Allegiant Travel currently has an average rating of “Hold” and an average target price of $75.11.

Allegiant Travel Stock Performance

Allegiant Travel stock opened at $102.12 on Wednesday. The stock has a fifty day moving average price of $85.21 and a 200 day moving average price of $62.17. Allegiant Travel has a 52 week low of $36.08 and a 52 week high of $105.15. 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 firm has a market capitalization of $1.87 billion, a P/E ratio of -68.08, a PEG ratio of 7.17 and a beta of 1.62.

Insider Activity at Allegiant Travel

In related news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $84.46, for a total value of $2,391,822.74. Following the completion of the transaction, the chairman now owns 2,147,730 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this link. Also, COO Keny Frank Wilper sold 635 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total value of $39,808.15. Following the sale, the chief operating officer now owns 16,353 shares in the company, valued at $1,025,169.57. The trade was a 3.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,304 shares of company stock valued at $2,459,900. Insiders own 15.80% of the company’s stock.

Institutional Trading of Allegiant Travel

Institutional investors and hedge funds have recently made changes to their positions in the stock. Signaturefd LLC raised its position in shares of Allegiant Travel by 149.2% during the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after purchasing an additional 273 shares during the period. Nisa Investment Advisors LLC raised its position 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 worth $29,000 after purchasing an additional 304 shares during the period. GAMMA Investing LLC raised its position in shares of Allegiant Travel by 53.5% during the 4th quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after purchasing an additional 236 shares during the period. NBC Securities Inc. raised its position in shares of Allegiant Travel by 2,827.9% during the 3rd quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock worth $69,000 after purchasing an additional 1,216 shares during the period. Finally, Stifel Financial Corp acquired a new stake in shares of Allegiant Travel during the 3rd quarter worth approximately $210,000. 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.