Allegiant Travel (NASDAQ:ALGT) PT Lowered to $65.00

Allegiant Travel (NASDAQ:ALGT) had its target price trimmed by Barclays from $75.00 to $65.00 in a research report report published on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the transportation company’s stock.

A number of other analysts also recently issued reports on ALGT. Evercore ISI lowered their price target on shares of Allegiant Travel from $125.00 to $110.00 and set an in-line rating on the stock in a report on Monday, August 28th. Raymond James dropped their target price on Allegiant Travel from $145.00 to $118.00 and set an outperform rating on the stock in a research report on Monday, September 25th. StockNews.com initiated coverage on Allegiant Travel in a report on Thursday, October 5th. They issued a hold rating for the company. Susquehanna dropped their price objective on Allegiant Travel from $120.00 to $80.00 and set a neutral rating on the stock in a report on Wednesday, October 11th. Finally, Morgan Stanley reduced their target price on Allegiant Travel from $120.00 to $100.00 and set an equal weight rating for the company in a research note on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Allegiant Travel has an average rating of Hold and an average target price of $96.20.

Allegiant Travel Stock Down 5.2 %

Shares of ALGT stock opened at $61.45 on Monday. Allegiant Travel has a twelve month low of $60.76 and a twelve month high of $130.93. The stock has a market cap of $1.13 billion, a P/E ratio of 6.59 and a beta of 1.76. The stock has a 50 day moving average of $77.11 and a 200 day moving average of $98.77. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 1.37.

Insider Transactions at Allegiant Travel

In related news, COO Keny Frank Wilper sold 1,270 shares of the stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $71.10, for a total value of $90,297.00. Following the completion of the sale, the chief operating officer now owns 12,059 shares of the company’s stock, valued at $857,394.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Gary Ellmer sold 2,000 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $104.76, for a total transaction of $209,520.00. Following the transaction, the director now owns 10,490 shares of the company’s stock, valued at approximately $1,098,932.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Keny Frank Wilper sold 1,270 shares of the company’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $71.10, for a total transaction of $90,297.00. Following the completion of the sale, the chief operating officer now directly owns 12,059 shares of the company’s stock, valued at approximately $857,394.90. The disclosure for this sale can be found here. Insiders have sold a total of 3,861 shares of company stock worth $344,042 in the last ninety days. Insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Allegiant Travel

Institutional investors and hedge funds have recently bought and sold shares of the company. Guggenheim Capital LLC increased its holdings in shares of Allegiant Travel by 5.3% during the 1st quarter. Guggenheim Capital LLC now owns 1,528 shares of the transportation company’s stock worth $249,000 after buying an additional 77 shares during the last quarter. Sei Investments Co. grew its position in Allegiant Travel by 0.3% in the first quarter. Sei Investments Co. now owns 28,155 shares of the transportation company’s stock worth $4,588,000 after acquiring an additional 92 shares during the period. Synovus Financial Corp increased its stake in Allegiant Travel by 2.1% during the second quarter. Synovus Financial Corp now owns 5,331 shares of the transportation company’s stock worth $673,000 after acquiring an additional 112 shares during the last quarter. MetLife Investment Management LLC raised its position in Allegiant Travel by 1.4% in the second quarter. MetLife Investment Management LLC now owns 8,446 shares of the transportation company’s stock valued at $1,067,000 after purchasing an additional 113 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Allegiant Travel by 1.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,407 shares of the transportation company’s stock valued at $809,000 after purchasing an additional 113 shares during the last quarter. 81.23% of the stock is currently owned by institutional investors and hedge funds.

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, 2023, it operated a fleet of 122 Airbus A320 series aircraft.