Susquehanna Issues Positive Forecast for Allegiant Travel (NASDAQ:ALGT) Stock Price

Allegiant Travel (NASDAQ:ALGT) had its price objective upped by Susquehanna from $60.00 to $105.00 in a research note issued to investors on Tuesday,Benzinga reports. Susquehanna currently has a neutral rating on the transportation company’s stock.

ALGT has been the topic of several other reports. UBS Group initiated coverage on shares of Allegiant Travel in a research note on Tuesday, November 26th. They set a “neutral” rating and a $16.00 target price on the stock. Evercore ISI increased their price objective 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. Wolfe Research lowered Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. Barclays increased their price target on Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Finally, TD Cowen boosted their price objective on Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, December 17th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Allegiant Travel presently has an average rating of “Hold” and an average target price of $74.11.

Allegiant Travel Price Performance

Allegiant Travel stock opened at $99.12 on Tuesday. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of -66.08, a PEG ratio of 7.17 and a beta of 1.62. Allegiant Travel has a 52-week low of $36.08 and a 52-week high of $101.00. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The stock’s 50 day moving average price is $81.15 and its two-hundred day moving average price is $60.17.

Insider Activity

In other Allegiant Travel news, COO Keny Frank Wilper sold 635 shares of the stock in a transaction dated 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 trade represents a 3.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of Allegiant Travel 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 approximately $181,397,275.80. This represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,304 shares of company stock worth $2,459,900 over the last 90 days. 15.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Allegiant Travel

Institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC grew its stake in Allegiant Travel by 149.2% in the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 273 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of 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. GAMMA Investing LLC grew its position in Allegiant Travel by 53.5% during 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 during the period. NBC Securities Inc. increased its holdings in Allegiant Travel by 2,827.9% during the third quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock worth $69,000 after buying an additional 1,216 shares during the last quarter. Finally, Headlands Technologies LLC raised its position in Allegiant Travel by 170.6% in the second 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 during the period. 85.81% of the stock is owned by hedge funds and other institutional investors.

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.