Allegiant Travel (NASDAQ:ALGT) Earns Neutral Rating from Analysts at UBS Group

UBS Group started coverage on shares of Allegiant Travel (NASDAQ:ALGT) in a research report released on Tuesday, MarketBeat reports. The firm issued a neutral rating and a $16.00 price target on the transportation company’s stock.

ALGT has been the topic of a number of other reports. TD Cowen raised their target price on shares of Allegiant Travel from $42.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Wolfe Research downgraded shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Barclays lifted their price objective 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. Evercore ISI boosted their price target on shares of Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a research report on Thursday, October 3rd. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $83.00 price objective on shares of Allegiant Travel in a report on Friday, November 15th. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $65.44.

Allegiant Travel Stock Performance

NASDAQ ALGT opened at $81.02 on Tuesday. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of -54.01, a PEG ratio of 6.95 and a beta of 1.61. 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 fifty day moving average price of $63.65 and a 200-day moving average price of $53.12. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $86.94.

Insider Buying and Selling at Allegiant Travel

In other news, COO Keny Frank Wilper sold 635 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total value of $39,808.15. Following the completion of the sale, the chief operating officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sandra Douglass Morgan sold 350 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total transaction of $28,269.50. Following the completion of the transaction, the director now directly owns 11,650 shares in the company, valued at $940,970.50. The trade was a 2.92 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,600 shares of company stock valued at $2,476,465. 15.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Signaturefd LLC boosted its position in Allegiant Travel by 149.2% during the third quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after purchasing an additional 273 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings 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 purchasing an additional 304 shares in the last quarter. Innealta Capital LLC purchased a new stake in Allegiant Travel during the 2nd quarter worth $34,000. CWM LLC raised its position in shares of Allegiant Travel by 275.1% in the 2nd quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 930 shares in the last quarter. Finally, NBC Securities Inc. lifted its position in shares of Allegiant Travel by 2,827.9% during the third quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock worth $69,000 after purchasing an additional 1,216 shares during the last quarter. 85.81% of the stock is owned by hedge funds and other institutional investors.

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.