Allegiant Travel (NASDAQ:ALGT) Reaches New 12-Month High – Still a Buy?

Allegiant Travel (NASDAQ:ALGT) hit a new 52-week high during trading on Monday . The company traded as high as $100.12 and last traded at $99.46, with a volume of 53924 shares. The stock had previously closed at $93.93.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ALGT shares. Wolfe Research downgraded Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. TD Cowen increased their target price on shares of Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, December 17th. Morgan Stanley lifted their target price on shares of Allegiant Travel from $80.00 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. Evercore ISI increased their price objective on Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. Finally, StockNews.com upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Saturday. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $69.11.

Allegiant Travel Stock Up 3.3 %

The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The company has a market cap of $1.78 billion, a price-to-earnings ratio of -64.67, a PEG ratio of 7.17 and a beta of 1.62. The business has a 50-day simple moving average of $79.70 and a two-hundred day simple moving average of $59.53.

Insider Buying and Selling at Allegiant Travel

In other news, Director Sandra Douglass Morgan sold 350 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total value of $28,269.50. Following the sale, the director now owns 11,650 shares in the company, valued at approximately $940,970.50. This trade represents a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Keny Frank Wilper sold 635 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was 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 in the company, valued at $1,025,169.57. This represents a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,304 shares of company stock worth $2,459,900 over the last 90 days. Insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On Allegiant Travel

Several large investors have recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. increased its position in shares of Allegiant Travel by 20.2% during the third quarter. Donald Smith & CO. Inc. now owns 993,474 shares of the transportation company’s stock valued at $54,701,000 after purchasing an additional 167,148 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in Allegiant Travel by 1.9% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 945,839 shares of the transportation company’s stock valued at $47,509,000 after buying an additional 17,792 shares during the period. U S Global Investors Inc. increased its holdings 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 valued at $40,823,000 after buying an additional 253,198 shares during the period. State Street Corp lifted its holdings in shares of Allegiant Travel by 1.7% during the 3rd quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock worth $33,530,000 after acquiring an additional 10,050 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of Allegiant Travel by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock valued at $34,584,000 after acquiring an additional 14,852 shares in the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

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.