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

Allegiant Travel (NASDAQ:ALGT) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Saturday.

Several other equities research analysts also recently issued reports on the stock. Morgan Stanley boosted their price objective on shares of Allegiant Travel from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. Evercore ISI upped their target price on Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. Raymond James boosted their price target on Allegiant Travel from $75.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, December 30th. 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 research 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $69.11.

Allegiant Travel Stock Performance

NASDAQ ALGT opened at $93.93 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. Allegiant Travel has a 1-year low of $36.08 and a 1-year high of $96.93. The firm has a market capitalization of $1.72 billion, a P/E ratio of -62.62, a P/E/G ratio of 7.17 and a beta of 1.67. The business’s 50-day simple moving average is $79.70 and its 200-day simple moving average is $59.43.

Insider Buying and Selling

In other news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the business’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 completion of the transaction, the chairman now directly owns 2,147,730 shares in the company, valued at approximately $181,397,275.80. The trade was a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible 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 shares were sold at an average price of $62.69, for a total value of $39,808.15. Following the completion of the sale, the chief operating officer now owns 16,353 shares in the company, valued at approximately $1,025,169.57. This represents a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,304 shares of company stock worth $2,459,900 over the last quarter. 15.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Allegiant Travel

A number of institutional investors and hedge funds have recently bought and sold shares of ALGT. Signaturefd LLC raised its position in Allegiant Travel by 149.2% in the third quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after acquiring an additional 273 shares in the last quarter. Nisa Investment Advisors LLC grew its position 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 buying an additional 304 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Allegiant Travel by 53.5% in the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock valued at $64,000 after buying an additional 236 shares in the last quarter. NBC Securities Inc. lifted 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 valued at $69,000 after acquiring an additional 1,216 shares during the last quarter. Finally, Headlands Technologies LLC boosted its stake in shares of Allegiant Travel by 170.6% during the 2nd quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock worth $127,000 after acquiring an additional 1,590 shares in the last quarter. Institutional investors own 85.81% of the company’s stock.

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.