Allegiant Travel (NASDAQ:ALGT) Receives Consensus Recommendation of “Hold” from Analysts

Allegiant Travel (NASDAQ:ALGT) has been given an average recommendation of “Hold” by the ten brokerages that are currently covering the company, MarketBeat reports. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $65.44.

Several analysts have recently commented on the company. Evercore ISI raised their price target on Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Barclays increased their target price on Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. UBS Group began coverage on Allegiant Travel in a research note on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 target price for the company. Wolfe Research cut Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $83.00 price objective on shares of Allegiant Travel in a report on Friday, November 15th.

Allegiant Travel Stock Down 2.1 %

ALGT stock opened at $79.04 on Wednesday. The stock has a market cap of $1.45 billion, a P/E ratio of -52.69, a PEG ratio of 6.68 and a beta of 1.67. 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 twelve month low of $36.08 and a twelve month high of $86.94. The company’s 50 day moving average is $65.82 and its two-hundred day moving average is $53.61.

Insider Transactions at Allegiant Travel

In related news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the company’s stock in a transaction dated 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 transaction, the chairman now owns 2,147,730 shares in the company, valued at $181,397,275.80. This represents a 1.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sandra Douglass Morgan sold 350 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were 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 owns 11,650 shares in the company, valued at approximately $940,970.50. This represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,600 shares of company stock worth $2,476,465. 15.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. raised its holdings in shares of Allegiant Travel by 7.9% in the second quarter. Harbor Capital Advisors Inc. now owns 7,591 shares of the transportation company’s stock valued at $381,000 after purchasing an additional 553 shares during the last quarter. CWM LLC lifted its position in Allegiant Travel by 275.1% during the second quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock worth $64,000 after purchasing an additional 930 shares during the period. 180 Wealth Advisors LLC increased its holdings in Allegiant Travel by 24.1% in the 2nd quarter. 180 Wealth Advisors LLC now owns 9,049 shares of the transportation company’s stock valued at $444,000 after buying an additional 1,758 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Allegiant Travel in the 2nd quarter valued at approximately $285,000. Finally, SeaCrest Wealth Management LLC increased its stake in Allegiant Travel by 10.6% in the second quarter. SeaCrest Wealth Management LLC now owns 5,560 shares of the transportation company’s stock valued at $279,000 after acquiring an additional 535 shares during the last quarter. 85.81% of the stock is currently owned by institutional investors.

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.