Allegiant Travel (NASDAQ:ALGT) Upgraded to “Hold” at StockNews.com

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

A number of other analysts have also recently commented on ALGT. Morgan Stanley lifted their target price on shares of Allegiant Travel from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. The Goldman Sachs Group reissued a “neutral” rating and issued a $83.00 target price on shares of Allegiant Travel in a research report on Friday, November 15th. Raymond James lifted 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. Evercore ISI increased their price objective on Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Finally, Barclays raised their price objective on Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $69.11.

Allegiant Travel Stock Performance

Shares of NASDAQ:ALGT opened at $93.93 on Friday. 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 company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -62.62, a price-to-earnings-growth ratio of 7.17 and a beta of 1.67. The firm has a 50 day moving average of $79.70 and a 200 day moving average of $59.43. Allegiant Travel has a 52 week low of $36.08 and a 52 week high of $96.93.

Insider Activity at Allegiant Travel

In other Allegiant Travel news, COO Keny Frank Wilper sold 635 shares of the company’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 sale, the chief operating officer now owns 16,353 shares of the company’s stock, valued at approximately $1,025,169.57. This represents a 3.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sandra Douglass Morgan sold 350 shares of Allegiant Travel stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total value of $28,269.50. Following the transaction, the director now directly owns 11,650 shares of the company’s stock, valued at $940,970.50. This trade represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,304 shares of company stock worth $2,459,900 in the last 90 days. 15.80% of the stock is owned by insiders.

Institutional Trading of Allegiant Travel

Several institutional investors and hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC purchased a new position in shares of Allegiant Travel during the third quarter valued at approximately $63,540,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Allegiant Travel by 41.5% during the third 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 during the last quarter. Clearbridge Investments LLC purchased a new stake in shares of Allegiant Travel in the second quarter valued at $8,959,000. Hauser Brothers GmbH increased its stake in Allegiant Travel by 73.0% in the third quarter. Hauser Brothers GmbH now owns 23,700 shares of the transportation company’s stock valued at $1,305,000 after purchasing an additional 10,000 shares during the last quarter. Finally, State Street Corp lifted its position in Allegiant Travel by 1.7% during the third quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock worth $33,530,000 after buying an additional 10,050 shares during the period. Hedge funds and other 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.