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

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

Other analysts have also recently issued reports about the company. Wolfe Research cut Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. TD Cowen upped their price target on Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, December 17th. Barclays boosted their target price on shares of Allegiant Travel from $50.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. The Goldman Sachs Group increased their price target on shares of Allegiant Travel from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Raymond James boosted their price objective on shares of Allegiant Travel from $75.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, December 30th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $75.11.

Allegiant Travel Stock Up 3.8 %

Shares of Allegiant Travel stock opened at $100.97 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $101.71. The company has a market cap of $1.85 billion, a P/E ratio of -67.31, a PEG ratio of 7.17 and a beta of 1.62. The company’s fifty day simple moving average is $83.95 and its two-hundred day simple moving average is $61.53.

Insider Transactions at Allegiant Travel

In related news, 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 completion of the sale, the chairman now directly owns 2,147,730 shares of the company’s stock, valued at approximately $181,397,275.80. This represents a 1.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Keny Frank Wilper sold 635 shares of Allegiant Travel stock in a transaction on 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 in the company, valued at approximately $1,025,169.57. This trade represents a 3.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,304 shares of company stock worth $2,459,900 over the last three months. 15.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Allegiant Travel

Large investors have recently made changes to their positions in the business. Signaturefd LLC boosted 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 acquiring an additional 273 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Allegiant Travel by 136.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock worth $29,000 after acquiring an additional 304 shares during the last quarter. GAMMA Investing LLC raised its stake in Allegiant Travel by 53.5% during 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. lifted its position in Allegiant Travel by 2,827.9% during the third quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock valued at $69,000 after purchasing an additional 1,216 shares during the last quarter. Finally, Stifel Financial Corp purchased a new position in shares of Allegiant Travel in the 3rd quarter worth $210,000. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

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.