Allegiant Travel (NASDAQ:ALGT) Trading Down 5.1% – What’s Next?

Allegiant Travel Company (NASDAQ:ALGT) shares were down 5.1% during trading on Wednesday . The company traded as low as $80.95 and last traded at $81.2250. Approximately 91,879 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 525,721 shares. The stock had previously closed at $85.57.

Analyst Ratings Changes

A number of research analysts have recently commented on ALGT shares. Evercore lifted their price objective on shares of Allegiant Travel from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Allegiant Travel in a research report on Wednesday, January 21st. Zacks Research downgraded shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 1st. Morgan Stanley lifted their price objective on shares of Allegiant Travel from $85.00 to $100.00 and gave the company an “equal weight” rating in a research report on Thursday, February 5th. Finally, UBS Group lifted their price objective on shares of Allegiant Travel from $90.00 to $93.00 and gave the company a “neutral” rating in a research report on Monday, March 23rd. 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $97.91.

Allegiant Travel Trading Down 0.0%

The business’s 50 day moving average price is $88.62 and its 200-day moving average price is $82.61. The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 1.60. The company has a market cap of $1.45 billion, a price-to-earnings ratio of -30.63, a PEG ratio of 0.42 and a beta of 1.63.

Insider Activity

In other news, Chairman Maurice J. Gallagher, Jr. sold 861 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $114.00, for a total transaction of $98,154.00. Following the completion of the sale, the chairman owned 150,000 shares in the company, valued at approximately $17,100,000. This trade represents a 0.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 300,000 shares of company stock worth $34,350,512. Company insiders own 14.70% of the company’s stock.

Institutional Trading of Allegiant Travel

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hantz Financial Services Inc. raised its stake in Allegiant Travel by 442.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 542 shares of the transportation company’s stock worth $33,000 after purchasing an additional 442 shares in the last quarter. Signaturefd LLC raised its stake in Allegiant Travel by 27.3% in the 4th quarter. Signaturefd LLC now owns 546 shares of the transportation company’s stock worth $47,000 after purchasing an additional 117 shares in the last quarter. NewEdge Advisors LLC raised its stake in Allegiant Travel by 43.7% in the 2nd quarter. NewEdge Advisors LLC now owns 1,227 shares of the transportation company’s stock worth $67,000 after purchasing an additional 373 shares in the last quarter. AlphaQuest LLC raised its stake in Allegiant Travel by 119.2% in the 3rd quarter. AlphaQuest LLC now owns 1,120 shares of the transportation company’s stock worth $68,000 after purchasing an additional 609 shares in the last quarter. Finally, iSAM Funds UK Ltd acquired a new stake in Allegiant Travel in the 3rd quarter worth about $69,000. Institutional investors and hedge funds own 85.81% of the company’s stock.

Allegiant Travel Company Profile

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.