Allegiant Travel (NASDAQ:ALGT) Shares Up 4.6% After Analyst Upgrade

Allegiant Travel (NASDAQ:ALGT) rose 4.6% on Wednesday after Morgan Stanley raised their price target on the stock from $80.00 to $90.00. Morgan Stanley currently has an equal weight rating on the stock. Allegiant Travel traded as high as $86.83 and last traded at $86.60. Approximately 14,372 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 366,593 shares. The stock had previously closed at $82.78.

Other research analysts also recently issued research reports about the stock. UBS Group started coverage on shares of Allegiant Travel in a research note on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 target price for the company. Evercore ISI upped their price objective on shares of Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. TD Cowen lifted their target price on shares of Allegiant Travel from $42.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Barclays boosted their price target on Allegiant Travel from $50.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $83.00 price objective on shares of Allegiant Travel in a report on Friday, November 15th. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $65.78.

Insider Transactions at Allegiant Travel

In other Allegiant Travel news, Director Sandra Douglass Morgan sold 350 shares of Allegiant Travel 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 transaction, the director now directly owns 11,650 shares of the company’s stock, valued at $940,970.50. The trade was a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $84.46, for a total transaction 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 $181,397,275.80. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,600 shares of company stock worth $2,476,465 in the last ninety days. Insiders own 15.80% of the company’s stock.

Institutional Trading of Allegiant Travel

Several large investors have recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its holdings in Allegiant Travel by 149.2% in 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 boosted its holdings in Allegiant Travel by 136.9% in the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 304 shares during the last quarter. Innealta Capital LLC purchased a new position in Allegiant Travel in the second quarter valued at about $34,000. CWM LLC grew its stake in 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. grew its stake in Allegiant Travel by 2,827.9% during the 3rd 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 in the last quarter. 85.81% of the stock is currently owned by institutional investors and hedge funds.

Allegiant Travel Stock Up 0.7 %

The firm has a fifty day simple moving average of $70.67 and a 200-day simple moving average of $55.40. The company has a market capitalization of $1.60 billion, a PE ratio of -58.23, a P/E/G ratio of 6.60 and a beta of 1.67. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75.

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.