Allegiant Travel (NASDAQ:ALGT) Receives Consensus Rating of “Hold” from Brokerages

Shares of Allegiant Travel (NASDAQ:ALGT) have received an average recommendation of “Hold” from the ten ratings firms that are presently covering the firm, MarketBeat reports. Nine equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $65.44.

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group reiterated a “neutral” rating and issued a $83.00 price objective on shares of Allegiant Travel in a research note on Friday, November 15th. Barclays increased their price target on shares of Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Evercore ISI increased their price target on shares of Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. UBS Group initiated coverage on shares of Allegiant Travel in a report on Tuesday, November 26th. They set a “neutral” rating and a $16.00 price target on the stock. Finally, Susquehanna increased their price target on shares of Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, November 4th.

Insider Buying and Selling at Allegiant Travel

In other news, COO Keny Frank Wilper sold 635 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total value of $39,808.15. Following the completion of the transaction, the chief operating officer now owns 16,353 shares of the company’s stock, valued at approximately $1,025,169.57. This trade represents a 3.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $84.46, for a total transaction of $2,391,822.74. Following the completion of the transaction, the chairman now directly owns 2,147,730 shares of the company’s stock, valued at approximately $181,397,275.80. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,600 shares of company stock worth $2,476,465 over the last three months. Insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ALGT. Donald Smith & CO. Inc. boosted its stake in shares of Allegiant Travel by 166.7% in the second quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company’s stock valued at $41,506,000 after purchasing an additional 516,545 shares during the period. U S Global Investors Inc. boosted its stake in shares of Allegiant Travel by 51.9% in the third quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock valued at $40,823,000 after purchasing an additional 253,198 shares during the period. Clearbridge Investments LLC purchased a new position in shares of Allegiant Travel in the second quarter valued at approximately $8,959,000. Millennium Management LLC boosted its stake in shares of Allegiant Travel by 779.8% in the second quarter. Millennium Management LLC now owns 169,459 shares of the transportation company’s stock valued at $8,512,000 after purchasing an additional 150,197 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in shares of Allegiant Travel in the third quarter valued at approximately $63,540,000. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Allegiant Travel Trading Up 0.6 %

Shares of Allegiant Travel stock opened at $82.78 on Wednesday. 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 $86.94. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of -55.19, a PEG ratio of 6.60 and a beta of 1.67. The firm’s 50 day simple moving average is $69.39 and its two-hundred day simple moving average is $54.95.

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.