Allegiant Travel (NASDAQ:ALGT) Short Interest Down 12.1% in November

Allegiant Travel (NASDAQ:ALGT) was the recipient of a large decline in short interest in November. As of November 30th, there was short interest totalling 1,230,000 shares, a decline of 12.1% from the November 15th total of 1,400,000 shares. Based on an average trading volume of 417,400 shares, the short-interest ratio is currently 2.9 days. Approximately 7.9% of the company’s stock are short sold.

Allegiant Travel Stock Performance

Allegiant Travel stock opened at $84.90 on Monday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The company has a market cap of $1.56 billion, a P/E ratio of -56.60, a price-to-earnings-growth ratio of 7.17 and a beta of 1.67. Allegiant Travel has a fifty-two week low of $36.08 and a fifty-two week high of $94.45. The firm’s 50 day simple moving average is $71.21 and its 200-day simple moving average is $55.75.

Insider Buying and Selling

In other news, COO Keny Frank Wilper sold 635 shares of the firm’s 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 owns 16,353 shares of the company’s stock, valued at approximately $1,025,169.57. This trade represents a 3.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sandra Douglass Morgan sold 350 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was 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 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. In the last ninety days, insiders have sold 29,600 shares of company stock valued at $2,476,465. Corporate insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

Several hedge funds have recently bought and sold shares of ALGT. Donald Smith & CO. Inc. lifted its position in Allegiant Travel by 166.7% in the 2nd quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company’s stock worth $41,506,000 after buying an additional 516,545 shares in the last quarter. U S Global Investors Inc. increased its position in Allegiant Travel by 51.9% in the 3rd quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock worth $40,823,000 after purchasing an additional 253,198 shares during the last quarter. Clearbridge Investments LLC purchased a new stake in shares of Allegiant Travel during the 2nd quarter worth about $8,959,000. Millennium Management LLC grew its stake in shares of Allegiant Travel by 779.8% in the 2nd quarter. Millennium Management LLC now owns 169,459 shares of the transportation company’s stock valued at $8,512,000 after buying an additional 150,197 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Allegiant Travel in the third quarter worth approximately $63,540,000. 85.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALGT has been the topic of a number of recent research reports. UBS Group initiated coverage on Allegiant Travel in a research note on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 target price on the stock. Susquehanna raised their price target on shares of Allegiant Travel from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Wolfe Research lowered Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. TD Cowen lifted their target price on Allegiant Travel from $42.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Evercore ISI raised their price target on Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $65.78.

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.