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

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

Other equities analysts have also recently issued research reports about the company. Morgan Stanley raised their price target on Allegiant Travel from $80.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. Evercore ISI raised their target price on shares of Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Wolfe Research downgraded shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Susquehanna increased their price objective on shares of Allegiant Travel from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Finally, Barclays boosted their target price 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. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Allegiant Travel presently has an average rating of “Hold” and a consensus target price of $68.00.

Allegiant Travel Stock Up 2.9 %

ALGT opened at $84.47 on Thursday. The company has a market capitalization of $1.55 billion, a PE ratio of -56.31, a price-to-earnings-growth ratio of 7.17 and a beta of 1.67. The firm has a 50-day simple moving average of $73.84 and a two-hundred day simple moving average of $56.77. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. Allegiant Travel has a 52 week low of $36.08 and a 52 week high of $94.45.

Insider Buying and Selling

In other Allegiant Travel news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the stock in a transaction on 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 sale, the chairman now owns 2,147,730 shares in the company, valued at $181,397,275.80. This trade represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sandra Douglass Morgan sold 350 shares of the business’s stock in a transaction 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 sale, the director now directly owns 11,650 shares of the company’s stock, 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 ninety days, insiders sold 29,600 shares of company stock valued at $2,476,465. Company insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ALGT. 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 acquiring an additional 273 shares during the period. Nisa Investment Advisors LLC grew its stake in Allegiant Travel by 136.9% in the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock worth $29,000 after purchasing an additional 304 shares in the last quarter. Privium Fund Management UK Ltd increased its holdings in 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 worth $581,000 after purchasing an additional 358 shares during the period. SeaCrest Wealth Management LLC raised its position in Allegiant Travel by 8.1% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 6,010 shares of the transportation company’s stock valued at $331,000 after purchasing an additional 450 shares in the last quarter. Finally, Inspire Investing LLC lifted its holdings in shares of Allegiant Travel by 8.1% in the 3rd quarter. Inspire Investing LLC now owns 7,490 shares of the transportation company’s stock worth $412,000 after buying an additional 562 shares during the period. Hedge funds and other 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.