Allegiant Travel (NASDAQ:ALGT) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Allegiant Travel (NASDAQ:ALGT) from a sell rating to a hold rating in a report issued on Saturday.

Other equities research analysts also recently issued reports about the stock. Wolfe Research downgraded shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Susquehanna increased their price target on Allegiant Travel from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. UBS Group started coverage on Allegiant Travel in a research note on Tuesday, November 26th. They set a “neutral” rating and a $16.00 price objective for the company. The Goldman Sachs Group reissued a “neutral” rating and issued a $83.00 target price on shares of Allegiant Travel in a research note on Friday, November 15th. Finally, Barclays boosted their target price on Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $69.11.

Allegiant Travel Stock Performance

Shares of NASDAQ:ALGT opened at $93.93 on Friday. 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 1-year low of $36.08 and a 1-year high of $96.93. The stock has a market capitalization of $1.72 billion, a P/E ratio of -62.62, a P/E/G ratio of 7.17 and a beta of 1.67. The business has a 50-day moving average price of $79.70 and a two-hundred day moving average price of $59.48.

Insider Buying and Selling at Allegiant Travel

In related news, COO Keny Frank Wilper sold 635 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total value of $39,808.15. Following the sale, the chief operating officer now directly owns 16,353 shares of the company’s stock, valued at approximately $1,025,169.57. The trade was a 3.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Sandra Douglass Morgan sold 350 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total value of $28,269.50. Following the transaction, the director now owns 11,650 shares of the company’s stock, valued at approximately $940,970.50. This trade represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,304 shares of company stock valued at $2,459,900. 15.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Allegiant Travel

Several institutional investors have recently bought and sold shares of the company. Signaturefd LLC grew its stake in shares of Allegiant Travel by 149.2% during the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after acquiring an additional 273 shares in 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 valued at $29,000 after buying an additional 304 shares during the last quarter. GAMMA Investing LLC lifted its position in Allegiant Travel by 53.5% during the 4th quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after buying an additional 236 shares in the last quarter. NBC Securities Inc. boosted its stake in shares of Allegiant Travel by 2,827.9% during the 3rd quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock worth $69,000 after buying an additional 1,216 shares during the last quarter. Finally, Headlands Technologies LLC grew its holdings in shares of Allegiant Travel by 170.6% in the 2nd quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock valued at $127,000 after acquiring an additional 1,590 shares in the last quarter. Institutional investors own 85.81% of the company’s stock.

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.