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

Allegiant Travel (NASDAQ:ALGT) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Thursday.

A number of other equities analysts have also commented on ALGT. Morgan Stanley raised their price target on Allegiant Travel from $80.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. Barclays raised their target price on Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Evercore ISI upped 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. Wolfe Research downgraded shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Finally, TD Cowen boosted their price objective on shares of Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Allegiant Travel has a consensus rating of “Hold” and a consensus target price of $68.00.

Allegiant Travel Price Performance

NASDAQ ALGT opened at $84.47 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The company has a market cap 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. Allegiant Travel has a 52 week low of $36.08 and a 52 week high of $94.45. The firm’s 50-day simple moving average is $73.31 and its two-hundred day simple moving average is $56.55.

Insider Activity at Allegiant Travel

In related news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $84.46, for a total transaction of $2,391,822.74. Following the transaction, the chairman now directly owns 2,147,730 shares in the company, valued at $181,397,275.80. This trade represents a 1.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Keny Frank Wilper sold 635 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total transaction of $39,808.15. Following the completion of the transaction, the chief operating officer now owns 16,353 shares in the company, valued at $1,025,169.57. This represents a 3.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,600 shares of company stock valued at $2,476,465. Insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On Allegiant Travel

Hedge funds have recently made changes to their positions in the business. Donald Smith & CO. Inc. lifted its stake in Allegiant Travel by 166.7% in the second quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company’s stock worth $41,506,000 after acquiring an additional 516,545 shares during the period. U S Global Investors Inc. raised its holdings in Allegiant Travel by 51.9% in the 3rd quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock worth $40,823,000 after purchasing an additional 253,198 shares in the last quarter. Clearbridge Investments LLC purchased a new stake in shares of Allegiant Travel in the 2nd quarter worth about $8,959,000. Millennium Management LLC boosted its stake in shares of Allegiant Travel by 779.8% during the 2nd quarter. Millennium Management LLC now owns 169,459 shares of the transportation company’s stock valued at $8,512,000 after purchasing an additional 150,197 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Allegiant Travel during the 3rd quarter valued at about $63,540,000. 85.81% of the stock is owned by hedge funds and other institutional investors.

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.