Allegiant Travel (NASDAQ:ALGT) Coverage Initiated by Analysts at UBS Group

UBS Group initiated coverage on shares of Allegiant Travel (NASDAQ:ALGT) in a report published on Tuesday, MarketBeat.com reports. The firm issued a neutral rating and a $16.00 price target on the transportation company’s stock.

Several other analysts have also recently issued reports on ALGT. Evercore ISI upped their price objective on Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $83.00 price target on shares of Allegiant Travel in a research note on Friday, November 15th. TD Cowen lifted their price objective on shares of Allegiant Travel from $42.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Wolfe Research cut shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Susquehanna increased their price target on shares of Allegiant Travel from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $65.44.

Allegiant Travel Trading Up 1.0 %

Shares of Allegiant Travel stock opened at $81.84 on Tuesday. Allegiant Travel has a twelve month low of $36.08 and a twelve month high of $86.94. 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 business has a 50-day moving average price of $64.41 and a 200-day moving average price of $53.31. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -55.22, a PEG ratio of 6.70 and a beta of 1.61.

Insider Buying and Selling at Allegiant Travel

In other news, COO Keny Frank Wilper sold 635 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total value of $39,808.15. Following the completion of the transaction, the chief operating officer now directly owns 16,353 shares of the company’s stock, valued at approximately $1,025,169.57. The trade was a 3.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of Allegiant Travel stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $84.46, for a total value of $2,391,822.74. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 29,600 shares of company stock valued at $2,476,465 in the last three months. Company insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On Allegiant Travel

Several institutional investors and hedge funds have recently bought and sold shares of the company. Signaturefd LLC boosted its position in shares of Allegiant Travel by 149.2% in the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after purchasing an additional 273 shares in the last quarter. Nisa Investment Advisors LLC raised 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 valued at $29,000 after buying an additional 304 shares during the last quarter. Innealta Capital LLC acquired a new stake in Allegiant Travel in the second quarter worth about $34,000. CWM LLC grew its stake in shares of Allegiant Travel by 275.1% during the second quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock worth $64,000 after acquiring an additional 930 shares during the last quarter. Finally, NBC Securities Inc. increased its holdings in shares of Allegiant Travel by 2,827.9% during the third 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 in the last quarter. 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.