Allegiant Travel (NASDAQ:ALGT) Sets New 12-Month High – Still a Buy?

Shares of Allegiant Travel (NASDAQ:ALGT) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $105.50 and last traded at $104.15, with a volume of 12595 shares traded. The stock had previously closed at $102.99.

Wall Street Analyst Weigh In

ALGT has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their target price on Allegiant Travel from $83.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Bank of America increased their target price on Allegiant Travel from $54.00 to $95.00 and gave the company an “underperform” rating in a research report on Friday, January 17th. Wolfe Research cut shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. Susquehanna increased their price objective on shares of Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Finally, Evercore ISI boosted their target price on shares of Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Allegiant Travel currently has a consensus rating of “Hold” and an average price target of $79.60.

Allegiant Travel Stock Down 0.9 %

The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The company has a 50-day simple moving average of $88.19 and a 200-day simple moving average of $64.09. The firm has a market cap of $1.91 billion, a PE ratio of -69.55, a price-to-earnings-growth ratio of 1.33 and a beta of 1.62.

Insider Transactions at Allegiant Travel

In other Allegiant Travel news, Director Sandra Douglass Morgan sold 350 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total transaction of $28,269.50. Following the transaction, the director now directly owns 11,650 shares in the company, valued at $940,970.50. This represents a 2.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the business’s stock in a transaction dated 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 sale, 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 position. The disclosure for this sale can be found here. Company insiders own 15.80% of the company’s stock.

Institutional Trading of Allegiant Travel

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Donald Smith & CO. Inc. raised its position in shares of Allegiant Travel by 20.2% in the 3rd quarter. Donald Smith & CO. Inc. now owns 993,474 shares of the transportation company’s stock worth $54,701,000 after acquiring an additional 167,148 shares in the last quarter. U S Global Investors Inc. grew its stake in Allegiant Travel by 51.9% in 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 purchasing an additional 253,198 shares during the last quarter. State Street Corp raised its holdings in Allegiant Travel by 1.7% in the third quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock worth $33,530,000 after purchasing an additional 10,050 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Allegiant Travel by 2.5% during the third quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock valued at $34,584,000 after buying an additional 14,852 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Allegiant Travel by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 364,755 shares of the transportation company’s stock valued at $20,089,000 after buying an additional 5,424 shares in the last quarter. 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.