Allegiant Travel (NASDAQ:ALGT) Shares Gap Up – Should You Buy?

Allegiant Travel Company (NASDAQ:ALGT)’s share price gapped up before the market opened on Friday . The stock had previously closed at $84.24, but opened at $89.79. Allegiant Travel shares last traded at $93.1680, with a volume of 62,323 shares.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ALGT shares. Bank of America upgraded shares of Allegiant Travel from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $55.00 to $95.00 in a research report on Tuesday, January 6th. Evercore upped their price target on shares of Allegiant Travel from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Citigroup lowered their price target on shares of Allegiant Travel from $114.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 20th. Weiss Ratings restated a “sell (d)” rating on shares of Allegiant Travel in a research report on Wednesday, January 21st. Finally, Barclays upped their price target on shares of Allegiant Travel from $60.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Monday, January 12th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $97.91.

Allegiant Travel Stock Up 10.3%

The stock’s 50-day moving average is $91.31 and its 200-day moving average is $81.76. The stock has a market cap of $1.71 billion, a P/E ratio of -36.18, a price-to-earnings-growth ratio of 0.46 and a beta of 1.63. The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 1.60.

Insider Buying and Selling at Allegiant Travel

In other news, Chairman Maurice J. Gallagher, Jr. sold 175,000 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $114.23, for a total transaction of $19,990,250.00. Following the completion of the transaction, the chairman owned 1,962,348 shares in the company, valued at approximately $224,159,012.04. This trade represents a 8.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders have sold 300,000 shares of company stock worth $34,350,512. Company insiders own 14.70% of the company’s stock.

Hedge Funds Weigh In On Allegiant Travel

Several large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its position in shares of Allegiant Travel by 0.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,862 shares of the transportation company’s stock valued at $1,694,000 after purchasing an additional 106 shares in the last quarter. Signaturefd LLC boosted its position in shares of Allegiant Travel by 27.3% during the 4th quarter. Signaturefd LLC now owns 546 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 117 shares in the last quarter. Millennium Management LLC boosted its position in shares of Allegiant Travel by 0.5% during the 4th quarter. Millennium Management LLC now owns 27,453 shares of the transportation company’s stock valued at $2,341,000 after purchasing an additional 134 shares in the last quarter. FourThought Financial Partners LLC lifted its stake in Allegiant Travel by 4.1% during the fourth quarter. FourThought Financial Partners LLC now owns 3,458 shares of the transportation company’s stock valued at $295,000 after buying an additional 137 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in Allegiant Travel by 4.9% during the third quarter. Harbor Capital Advisors Inc. now owns 3,759 shares of the transportation company’s stock valued at $228,000 after buying an additional 176 shares in the last quarter. Institutional investors own 85.81% of the company’s stock.

About Allegiant Travel

Allegiant Travel Company is a holding company that operates Allegiant Air, a low‐cost leisure airline offering scheduled and charter air service. The company focuses on connecting underserved secondary markets with popular vacation destinations across the United States. By targeting price‐sensitive leisure travelers, Allegiant Air operates a point‐to‐point network that avoids the traditional hub‐and‐spoke model, providing non‐stop flights from smaller cities to resort and entertainment hubs.

In addition to its core flight operations, Allegiant Travel Company offers packaged travel services that include hotel accommodations, rental cars and attraction tickets through its online portal.