Allegiant Travel (NASDAQ:ALGT) Given Consensus Recommendation of “Hold” by Analysts

Shares of Allegiant Travel (NASDAQ:ALGT) have been assigned an average rating of “Hold” from the ten analysts that are presently covering the stock, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $65.44.

ALGT has been the subject of a number of recent analyst reports. Barclays increased their price target on Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. The Goldman Sachs Group restated a “neutral” rating and set a $83.00 price target on shares of Allegiant Travel in a research note on Friday, November 15th. UBS Group assumed coverage on Allegiant Travel in a research note on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 price objective for the company. Wolfe Research lowered shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Susquehanna lifted their price target on Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, November 4th.

Insider Activity at Allegiant Travel

In related news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the company’s stock in a transaction dated 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 in the company, valued at $181,397,275.80. The trade was a 1.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sandra Douglass Morgan sold 350 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total transaction of $28,269.50. Following the sale, the director now owns 11,650 shares of the company’s stock, valued at approximately $940,970.50. This represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,600 shares of company stock worth $2,476,465 in the last three months. 15.80% of the stock is owned by insiders.

Institutional Trading of Allegiant Travel

Several institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new stake in Allegiant Travel in the 3rd quarter worth approximately $63,540,000. Clearbridge Investments LLC purchased a new stake in Allegiant Travel in the 2nd quarter worth approximately $8,959,000. XTX Topco Ltd purchased a new position in Allegiant Travel during the second quarter valued at approximately $764,000. Assenagon Asset Management S.A. bought a new position in Allegiant Travel in the 2nd quarter worth $285,000. Finally, Hauser Brothers GmbH boosted its stake in shares of Allegiant Travel by 73.0% in the third quarter. Hauser Brothers GmbH now owns 23,700 shares of the transportation company’s stock worth $1,305,000 after acquiring an additional 10,000 shares during the period. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Allegiant Travel Stock Performance

NASDAQ ALGT opened at $79.04 on Wednesday. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of -52.69, a PEG ratio of 6.68 and a beta of 1.67. The stock has a fifty day simple moving average of $65.82 and a 200 day simple moving average of $53.61. 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 twelve month low of $36.08 and a twelve month high of $86.94.

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.