Allegiant Travel (NASDAQ:ALGT) Chairman Sells $2,391,822.74 in Stock

Allegiant Travel (NASDAQ:ALGT) Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $84.46, for a total transaction of $2,391,822.74. Following the completion of the transaction, the chairman now directly owns 2,147,730 shares of the company’s stock, valued at approximately $181,397,275.80. This trade represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Allegiant Travel Stock Up 0.3 %

Shares of ALGT stock opened at $81.02 on Thursday. 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 twelve month low of $36.08 and a twelve month high of $86.94. The stock has a 50 day moving average of $62.89 and a 200 day moving average of $52.92. The stock has a market cap of $1.49 billion, a P/E ratio of -54.01, a P/E/G ratio of 6.95 and a beta of 1.61.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALGT. Signaturefd LLC raised its stake 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 buying an additional 273 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Allegiant Travel by 136.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock worth $29,000 after buying an additional 304 shares during the last quarter. Innealta Capital LLC purchased a new stake in Allegiant Travel during the 2nd quarter worth approximately $34,000. NBC Securities Inc. lifted its position in shares of Allegiant Travel by 2,827.9% in the third quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock valued at $69,000 after acquiring an additional 1,216 shares in the last quarter. Finally, CWM LLC increased its position in shares of Allegiant Travel by 275.1% during the second quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock worth $64,000 after purchasing an additional 930 shares in the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Analyst Ratings Changes

ALGT has been the subject of several analyst reports. Wolfe Research downgraded shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. TD Cowen boosted their price target on Allegiant Travel from $42.00 to $50.00 and gave the company a “hold” rating in a report on Friday, November 1st. The Goldman Sachs Group reissued a “neutral” rating and set a $83.00 price target on shares of Allegiant Travel in a research report on Friday, November 15th. Barclays upped their price objective on shares of Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Finally, Evercore ISI upped their price target on shares of Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Allegiant Travel has a consensus rating of “Hold” and a consensus price target of $65.44.

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.