Short Interest in Allegiant Travel (NASDAQ:ALGT) Expands By 29.8%

Allegiant Travel (NASDAQ:ALGT) saw a large growth in short interest in February. As of February 28th, there was short interest totalling 1,350,000 shares, a growth of 29.8% from the February 13th total of 1,040,000 shares. Approximately 9.6% of the company’s shares are short sold. Based on an average trading volume of 371,500 shares, the days-to-cover ratio is presently 3.6 days.

Analyst Ratings Changes

Several analysts recently issued reports on ALGT shares. Raymond James lifted their price target on shares of Allegiant Travel from $75.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, December 30th. Susquehanna lifted their price target on shares of Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Barclays lifted their price target on shares of Allegiant Travel from $85.00 to $100.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Bank of America lifted their price target on shares of Allegiant Travel from $54.00 to $95.00 and gave the company an “underperform” rating in a research report on Friday, January 17th. Finally, TD Cowen lifted their price target on shares of Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $80.10.

Hedge Funds Weigh In On Allegiant Travel

A number of hedge funds and other institutional investors have recently made changes to their positions in ALGT. Crews Bank & Trust bought a new stake in Allegiant Travel in the 4th quarter valued at about $25,000. Jones Financial Companies Lllp raised its stake in Allegiant Travel by 94.5% in the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock valued at $43,000 after acquiring an additional 223 shares during the period. Sterling Capital Management LLC raised its stake in Allegiant Travel by 803.6% in the 4th quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company’s stock valued at $47,000 after acquiring an additional 442 shares during the period. Signaturefd LLC raised its stake in Allegiant Travel by 30.3% in the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock valued at $56,000 after acquiring an additional 138 shares during the period. Finally, GAMMA Investing LLC raised its stake in Allegiant Travel by 53.5% in the 4th quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock valued at $64,000 after acquiring an additional 236 shares during the period. 85.81% of the stock is owned by hedge funds and other institutional investors.

Allegiant Travel Price Performance

ALGT opened at $54.21 on Tuesday. The firm’s fifty day moving average price is $85.58 and its two-hundred day moving average price is $73.68. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The company has a market capitalization of $994.10 million, a price-to-earnings ratio of -4.05 and a beta of 1.64. Allegiant Travel has a 1 year low of $36.09 and a 1 year high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $1.62. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. As a group, analysts anticipate that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

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.