Allegiant Travel (NASDAQ:ALGT) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of Allegiant Travel (NASDAQ:ALGT) from a hold rating to a sell rating in a research report sent to investors on Friday.

ALGT has been the topic of a number of other reports. Barclays raised their price target 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. Morgan Stanley lifted their price target on shares of Allegiant Travel from $80.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $83.00 price target on shares of Allegiant Travel in a research note on Friday, November 15th. Wolfe Research lowered Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Finally, Susquehanna boosted their price target on Allegiant Travel from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $68.00.

Allegiant Travel Stock Performance

Shares of NASDAQ ALGT opened at $91.11 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. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of -60.74, a P/E/G ratio of 7.17 and a beta of 1.67. The stock’s fifty day moving average price is $76.68 and its two-hundred day moving average price is $58.04. Allegiant Travel has a one year low of $36.08 and a one year high of $94.45.

Insider Buying and Selling

In other Allegiant Travel news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the firm’s stock in a transaction on 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 transaction, the chairman now directly owns 2,147,730 shares of the company’s stock, valued at approximately $181,397,275.80. This trade represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Keny Frank Wilper sold 635 shares of Allegiant Travel stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total transaction of $39,808.15. Following the transaction, the chief operating officer now owns 16,353 shares of the company’s stock, valued at $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 29,600 shares of company stock valued at $2,476,465 over the last ninety days. 15.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Allegiant Travel

Large investors have recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. raised its holdings in shares of Allegiant Travel by 166.7% in the second quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company’s stock valued at $41,506,000 after purchasing an additional 516,545 shares during the last quarter. U S Global Investors Inc. increased its stake in Allegiant Travel by 51.9% in the 3rd quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock valued at $40,823,000 after buying an additional 253,198 shares during the last quarter. Clearbridge Investments LLC bought a new position in shares of Allegiant Travel during the 2nd quarter worth approximately $8,959,000. Millennium Management LLC lifted its position in shares of Allegiant Travel by 779.8% during the 2nd quarter. Millennium Management LLC now owns 169,459 shares of the transportation company’s stock worth $8,512,000 after buying an additional 150,197 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of Allegiant Travel in the 3rd quarter worth approximately $63,540,000. 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.