Short Interest in Allegiant Travel (NASDAQ:ALGT) Grows By 29.8%

Allegiant Travel (NASDAQ:ALGT) was the recipient of a significant growth in short interest in February. As of February 28th, there was short interest totalling 1,350,000 shares, a growth of 29.8% from the February 13th total of 1,040,000 shares. Approximately 9.6% of the company’s stock are sold short. Based on an average daily volume of 371,500 shares, the short-interest ratio is currently 3.6 days.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. The Goldman Sachs Group raised their target price on Allegiant Travel from $83.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. UBS Group started coverage on Allegiant Travel in a research note on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 price objective on the stock. Barclays upped their target price on Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. StockNews.com raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. Finally, Raymond James upped their price objective on shares of Allegiant Travel from $75.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, December 30th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $80.10.

Hedge Funds Weigh In On Allegiant Travel

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Crews Bank & Trust acquired a new stake in shares of Allegiant Travel during the 4th quarter worth approximately $25,000. Jones Financial Companies Lllp lifted its position in Allegiant Travel by 94.5% in the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock worth $43,000 after purchasing an additional 223 shares during the period. Sterling Capital Management LLC boosted its stake in Allegiant Travel by 803.6% during the fourth quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company’s stock worth $47,000 after buying an additional 442 shares in the last quarter. Signaturefd LLC boosted its stake in Allegiant Travel by 30.3% during the fourth quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock worth $56,000 after buying an additional 138 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Allegiant Travel by 53.5% in the 4th quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock valued at $64,000 after buying an additional 236 shares during the period. 85.81% of the stock is currently owned by institutional investors.

Allegiant Travel Trading Up 1.4 %

Shares of ALGT stock opened at $54.23 on Monday. The firm has a market capitalization of $994.47 million, a P/E ratio of -4.06 and a beta of 1.64. Allegiant Travel has a 1 year low of $36.09 and a 1 year high of $107.57. The firm’s fifty day simple moving average is $86.46 and its 200 day simple moving average is $73.60. 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 (NASDAQ:ALGT) last posted its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $1.62. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. As a group, sell-side analysts predict that Allegiant Travel will post 7.7 EPS for the current year.

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.