Allegiant Travel (NASDAQ:ALGT) Short Interest Up 8.8% in October

Allegiant Travel (NASDAQ:ALGT) saw a significant growth in short interest in October. As of October 15th, there was short interest totalling 1,850,000 shares, a growth of 8.8% from the September 30th total of 1,700,000 shares. Based on an average daily volume of 405,700 shares, the days-to-cover ratio is currently 4.6 days. Currently, 12.1% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several research analysts have commented on ALGT shares. Barclays decreased their price target on shares of Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Susquehanna lifted their target price on shares of Allegiant Travel from $40.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. TD Cowen boosted their price target on shares of Allegiant Travel from $33.00 to $42.00 and gave the stock a “hold” rating in a research note on Thursday, October 3rd. Evercore ISI raised their price objective on Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. Finally, Morgan Stanley decreased their price objective on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Allegiant Travel currently has a consensus rating of “Hold” and a consensus price target of $63.13.

Insider Transactions at Allegiant Travel

In other Allegiant Travel news, COO Keny Frank Wilper sold 635 shares of Allegiant Travel stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 16,353 shares in the company, valued at $1,025,169.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, COO Keny Frank Wilper sold 635 shares of the 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 transaction, the chief operating officer now owns 16,353 shares of the company’s stock, valued at $1,025,169.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary Ellmer sold 1,000 shares of Allegiant Travel stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the sale, the director now directly owns 7,490 shares of the company’s stock, valued at approximately $337,050. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,334 shares of company stock valued at $117,158. 15.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Allegiant Travel

A number of large investors have recently made changes to their positions in the business. Signaturefd LLC lifted its stake in Allegiant Travel by 149.2% in 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 period. Nisa Investment Advisors LLC lifted its position in shares of 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 purchasing an additional 304 shares during the period. Innealta Capital LLC purchased a new stake in shares of Allegiant Travel in the 2nd quarter worth about $34,000. CWM LLC boosted its stake in shares of Allegiant Travel by 275.1% during the 2nd quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 930 shares in the last quarter. Finally, NBC Securities Inc. increased its position in shares of 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 buying an additional 1,216 shares during the period. 85.81% of the stock is currently owned by institutional investors.

Allegiant Travel Price Performance

ALGT stock opened at $62.96 on Thursday. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of -70.74, a PEG ratio of 3.11 and a beta of 1.65. The firm’s 50-day moving average price is $50.88 and its two-hundred day moving average price is $50.85. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.30. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $85.91.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Wednesday, July 31st. The transportation company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.93. The company had revenue of $666.28 million for the quarter, compared to the consensus estimate of $657.74 million. Allegiant Travel had a positive return on equity of 3.48% and a negative net margin of 0.57%. During the same quarter in the previous year, the business earned $4.35 EPS. Allegiant Travel’s revenue was down 2.6% compared to the same quarter last year. As a group, equities analysts predict that Allegiant Travel will post 1.47 earnings per share for the current year.

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.