Susquehanna Boosts Allegiant Travel (NASDAQ:ALGT) Price Target to $105.00

Allegiant Travel (NASDAQ:ALGT) had its price objective upped by stock analysts at Susquehanna from $60.00 to $105.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. Susquehanna’s target price would suggest a potential upside of 5.74% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. 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. StockNews.com raised Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Saturday, January 4th. UBS Group assumed coverage on Allegiant Travel in a research note on Tuesday, November 26th. They set a “neutral” rating and a $16.00 price target for the company. Barclays boosted their price target on Allegiant Travel from $50.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Finally, Morgan Stanley boosted their price target on Allegiant Travel from $80.00 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $74.11.

Allegiant Travel Price Performance

ALGT opened at $99.30 on Tuesday. The stock has a 50-day moving average price of $81.88 and a 200-day moving average price of $60.44. 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 $1.82 billion, a PE ratio of -66.20, a P/E/G ratio of 7.17 and a beta of 1.62. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $101.00.

Insider Buying and Selling at Allegiant Travel

In other 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 directly owns 11,650 shares in the company, valued at approximately $940,970.50. This represents a 2.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the stock in a transaction that occurred 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 owns 2,147,730 shares of the company’s stock, valued at $181,397,275.80. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,304 shares of company stock valued at $2,459,900 in the last three months. 15.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Allegiant Travel

Several institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in shares of Allegiant Travel by 53.5% during the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after purchasing an additional 236 shares during the last quarter. Signaturefd LLC lifted its position in shares of Allegiant Travel by 149.2% during the third quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after purchasing an additional 273 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Allegiant Travel by 136.9% during the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock worth $29,000 after purchasing an additional 304 shares during the last quarter. Privium Fund Management UK Ltd lifted its position in shares of Allegiant Travel by 3.5% during the third quarter. Privium Fund Management UK Ltd now owns 10,549 shares of the transportation company’s stock worth $581,000 after purchasing an additional 358 shares during the last quarter. Finally, SeaCrest Wealth Management LLC increased its stake in shares of Allegiant Travel by 8.1% during the third quarter. SeaCrest Wealth Management LLC now owns 6,010 shares of the transportation company’s stock valued at $331,000 after buying an additional 450 shares during the period. 85.81% of the stock is currently owned by institutional investors.

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.