Allegiant Travel (NASDAQ:ALGT) Given Average Recommendation of “Hold” by Brokerages

Allegiant Travel (NASDAQ:ALGT) has been assigned an average recommendation of “Hold” from the eleven analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $79.60.

Several equities analysts recently commented on ALGT shares. Wolfe Research lowered shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. UBS Group assumed coverage on Allegiant Travel in a research report on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 target price on the stock. TD Cowen boosted their price target on Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday, December 17th. Bank of America raised their price objective on Allegiant Travel from $54.00 to $95.00 and gave the stock an “underperform” rating in a report on Friday, January 17th. Finally, Raymond James raised their target price on shares of Allegiant Travel from $75.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, December 30th.

Allegiant Travel Stock Performance

NASDAQ ALGT opened at $104.32 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. Allegiant Travel has a fifty-two week low of $36.08 and a fifty-two week high of $106.87. The business has a fifty day moving average of $88.19 and a 200-day moving average of $64.09. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of -69.55, a price-to-earnings-growth ratio of 1.33 and a beta of 1.62.

Insider Transactions at Allegiant Travel

In other Allegiant Travel news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $84.46, for a total transaction of $2,391,822.74. Following the transaction, the chairman now 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sandra Douglass Morgan sold 350 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were 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 trade represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Signaturefd LLC boosted its position in Allegiant Travel by 149.2% during the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after acquiring an additional 273 shares during the period. Nisa Investment Advisors LLC raised its holdings 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 acquiring an additional 304 shares in the last quarter. GAMMA Investing LLC grew its stake in Allegiant Travel by 53.5% in the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 236 shares in the last quarter. NBC Securities Inc. grew its stake in shares of Allegiant Travel by 2,827.9% in the 3rd quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock valued at $69,000 after buying an additional 1,216 shares in the last quarter. Finally, Stifel Financial Corp acquired a new position in Allegiant Travel in the third quarter worth approximately $210,000. 85.81% of the stock is currently owned by institutional investors and hedge funds.

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.