Allegiant Travel (NASDAQ:ALGT) Reaches New 12-Month High – Still a Buy?

Shares of Allegiant Travel (NASDAQ:ALGT) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $107.13 and last traded at $105.71, with a volume of 10016 shares changing hands. The stock had previously closed at $104.06.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. The Goldman Sachs Group boosted their target price on Allegiant Travel from $83.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. UBS Group assumed coverage on Allegiant Travel in a research report on Tuesday, November 26th. They set a “neutral” rating and a $16.00 target price on the stock. TD Cowen upped their price target on Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, December 17th. StockNews.com upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. Finally, Bank of America upped their price target on Allegiant Travel from $54.00 to $95.00 and gave the stock an “underperform” rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $79.60.

Allegiant Travel Trading Up 0.5 %

The company has a market cap of $1.92 billion, a PE ratio of -69.64, a price-to-earnings-growth ratio of 1.37 and a beta of 1.62. The business has a 50 day simple moving average of $91.65 and a two-hundred day simple moving average of $66.30. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36.

Insiders Place Their Bets

In related news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $84.46, for a total value of $2,391,822.74. Following the transaction, the chairman now directly owns 2,147,730 shares of the company’s stock, valued at approximately $181,397,275.80. This trade represents a 1.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sandra Douglass Morgan sold 350 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total value 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. This trade represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its holdings in Allegiant Travel by 1,614.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 9,017 shares of the transportation company’s stock valued at $849,000 after purchasing an additional 8,491 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Allegiant Travel in the 3rd quarter valued at $63,540,000. Charles Schwab Investment Management Inc. increased its holdings in Allegiant Travel by 41.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 257,456 shares of the transportation company’s stock valued at $14,176,000 after purchasing an additional 75,486 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in Allegiant Travel in the 2nd quarter valued at $8,959,000. Finally, Hauser Brothers GmbH increased its holdings in Allegiant Travel by 73.0% in the 3rd quarter. Hauser Brothers GmbH now owns 23,700 shares of the transportation company’s stock valued at $1,305,000 after purchasing an additional 10,000 shares in 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.