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

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

A number of other research firms have also weighed in on ALGT. 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 note on Thursday, October 3rd. Raymond James increased 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 upped their target price on Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. UBS Group assumed coverage on Allegiant Travel in a research report on Tuesday, November 26th. They set a “neutral” rating and a $16.00 price target for the company. Finally, Wolfe Research lowered Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $69.11.

Allegiant Travel Price Performance

Shares of NASDAQ ALGT opened at $93.93 on Friday. Allegiant Travel has a 52 week low of $36.08 and a 52 week high of $96.93. The business’s 50 day moving average price is $79.70 and its 200 day moving average price is $59.53. 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 firm has a market cap 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.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, Director Sandra Douglass Morgan sold 350 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total transaction of $28,269.50. Following the completion of the transaction, the director now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 29,304 shares of company stock valued at $2,459,900 over the last ninety days. Corporate insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

Large investors have recently modified their holdings of the business. International Assets Investment Management LLC purchased a new position in shares of Allegiant Travel in the third quarter worth about $63,540,000. Charles Schwab Investment Management Inc. lifted its stake in Allegiant Travel by 41.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 257,456 shares of the transportation company’s stock worth $14,176,000 after purchasing an additional 75,486 shares in the last quarter. Clearbridge Investments LLC purchased a new position in Allegiant Travel in the 2nd quarter worth approximately $8,959,000. Hauser Brothers GmbH boosted its holdings in shares of Allegiant Travel by 73.0% during the 3rd quarter. Hauser Brothers GmbH now owns 23,700 shares of the transportation company’s stock worth $1,305,000 after purchasing an additional 10,000 shares during the last quarter. Finally, State Street Corp grew its position in shares of Allegiant Travel by 1.7% in the third quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock valued at $33,530,000 after purchasing an additional 10,050 shares in the last quarter. 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.