Allegiant Travel (NASDAQ:ALGT) Short Interest Update

Allegiant Travel (NASDAQ:ALGT) saw a significant drop in short interest in October. As of October 30th, there was short interest totalling 556,300 shares, a drop of 19.6% from the October 15th total of 691,600 shares. Based on an average daily volume of 194,200 shares, the days-to-cover ratio is presently 2.9 days. Approximately 4.2% of the company’s shares are short sold.

In related news, CEO Maurice J. Gallagher, Jr. sold 45,386 shares of the firm’s stock in a transaction on Friday, November 20th. The shares were sold at an average price of $155.25, for a total transaction of $7,046,176.50. Following the sale, the chief executive officer now directly owns 2,367,671 shares in the company, valued at $367,580,922.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Maurice J. Gallagher, Jr. sold 100,000 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $133.41, for a total transaction of $13,341,000.00. Following the sale, the chief executive officer now owns 2,431,150 shares in the company, valued at $324,339,721.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 185,818 shares of company stock worth $26,762,213. Insiders own 19.60% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC bought a new stake in shares of Allegiant Travel during the 3rd quarter worth about $279,000. Twinbeech Capital LP bought a new stake in shares of Allegiant Travel during the 3rd quarter worth about $717,000. Point72 Hong Kong Ltd boosted its holdings in shares of Allegiant Travel by 538.9% during the 3rd quarter. Point72 Hong Kong Ltd now owns 460 shares of the transportation company’s stock worth $55,000 after buying an additional 388 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in shares of Allegiant Travel by 73.3% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 8,667 shares of the transportation company’s stock worth $1,038,000 after buying an additional 3,667 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in shares of Allegiant Travel during the 3rd quarter worth about $2,294,000. Institutional investors own 81.56% of the company’s stock.

Allegiant Travel stock opened at $154.94 on Friday. The firm has a market capitalization of $2.54 billion, a PE ratio of -25.69 and a beta of 1.62. The company’s 50-day moving average is $135.61 and its 200-day moving average is $118.32. Allegiant Travel has a fifty-two week low of $60.06 and a fifty-two week high of $183.26. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.22 and a quick ratio of 1.19.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Monday, November 2nd. The transportation company reported ($4.28) earnings per share for the quarter, topping the consensus estimate of ($5.14) by $0.86. Allegiant Travel had a negative net margin of 7.86% and a negative return on equity of 8.83%. As a group, analysts expect that Allegiant Travel will post -10.27 EPS for the current year.

A number of brokerages recently commented on ALGT. Morgan Stanley raised their price objective on shares of Allegiant Travel from $174.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, November 2nd. Barclays upgraded shares of Allegiant Travel from an “underweight” rating to an “overweight” rating and raised their price objective for the stock from $100.00 to $150.00 in a report on Monday, October 12th. Cowen raised their price objective on shares of Allegiant Travel from $140.00 to $165.00 and gave the stock a “market perform” rating in a report on Thursday, November 12th. ValuEngine upgraded shares of Allegiant Travel from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 2nd. Finally, Raymond James lifted their price target on shares of Allegiant Travel from $152.00 to $155.00 and gave the company a “strong-buy” rating in a research note on Thursday, October 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Allegiant Travel has an average rating of “Buy” and a consensus price target of $148.23.

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 14, 2020, it operated a fleet of 94 Airbus A320 series aircraft.

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