Allegiant Travel’s (ALGT) “Neutral” Rating Reaffirmed at The Goldman Sachs Group

The Goldman Sachs Group reiterated their neutral rating on shares of Allegiant Travel (NASDAQ:ALGT) in a research note published on Friday morning, MarketBeat Ratings reports. They currently have a $83.00 target price on the transportation company’s stock.

ALGT has been the subject of a number of other reports. TD Cowen increased their target price on Allegiant Travel from $42.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Barclays increased their target price on Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Susquehanna raised 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. 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 research note on Thursday, October 3rd. Finally, Wolfe Research downgraded Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $70.11.

Allegiant Travel Stock Down 4.5 %

NASDAQ ALGT opened at $74.20 on Friday. The stock’s 50 day moving average is $58.60 and its 200 day moving average is $51.96. 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 12 month low of $36.08 and a 12 month high of $85.91. The stock has a market cap of $1.36 billion, a PE ratio of -49.47, a P/E/G ratio of 6.17 and a beta of 1.61.

Insiders Place Their Bets

In other Allegiant Travel news, COO Keny Frank Wilper sold 635 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total transaction of $39,808.15. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gary Ellmer sold 1,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the transaction, the director now owns 7,490 shares in the company, valued at approximately $337,050. The trade was a 11.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,931 shares of company stock valued at $101,372. Insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC acquired a new stake in Allegiant Travel during the 3rd quarter worth approximately $63,540,000. Interval Partners LP acquired a new stake in Allegiant Travel during the 1st quarter worth approximately $5,641,000. Clearbridge Investments LLC acquired a new stake in Allegiant Travel during the 2nd quarter worth approximately $8,959,000. XTX Topco Ltd acquired a new stake in Allegiant Travel during the 2nd quarter worth approximately $764,000. Finally, Assenagon Asset Management S.A. acquired a new stake in Allegiant Travel during the 2nd quarter worth approximately $285,000. Hedge funds and other institutional investors 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.