Allegiant Travel Company (NASDAQ:ALGT) Short Interest Update

Allegiant Travel Company (NASDAQ:ALGT) saw a large decline in short interest in the month of December. As of December 15th, there was short interest totaling 1,420,667 shares, a decline of 22.7% from the November 30th total of 1,838,657 shares. Based on an average trading volume of 339,210 shares, the days-to-cover ratio is presently 4.2 days. Approximately 9.1% of the shares of the company are sold short. Approximately 9.1% of the shares of the company are sold short. Based on an average trading volume of 339,210 shares, the days-to-cover ratio is presently 4.2 days.

Institutional Trading of Allegiant Travel

A number of institutional investors have recently modified their holdings of the stock. Hudson Bay Capital Management LP bought a new position in shares of Allegiant Travel in the third quarter worth $1,109,000. Jacobs Levy Equity Management Inc. raised its stake in Allegiant Travel by 14.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 433,668 shares of the transportation company’s stock worth $26,354,000 after acquiring an additional 53,800 shares in the last quarter. Dark Forest Capital Management LP lifted its holdings in shares of Allegiant Travel by 37.9% in the third quarter. Dark Forest Capital Management LP now owns 45,325 shares of the transportation company’s stock worth $2,754,000 after acquiring an additional 12,462 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Allegiant Travel during the 3rd quarter valued at approximately $606,000. Finally, Millennium Management LLC increased its position in Allegiant Travel by 14.1% during the 3rd quarter. Millennium Management LLC now owns 27,319 shares of the transportation company’s stock worth $1,660,000 after purchasing an additional 3,375 shares in the last quarter. 85.81% of the stock is currently owned by institutional investors.

Allegiant Travel Price Performance

Shares of Allegiant Travel stock opened at $84.65 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 1.76. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -5.19, a price-to-earnings-growth ratio of 0.57 and a beta of 1.67. Allegiant Travel has a twelve month low of $39.80 and a twelve month high of $107.57. The company has a 50-day simple moving average of $73.73 and a two-hundred day simple moving average of $63.32.

Allegiant Travel (NASDAQ:ALGT) last announced its earnings results on Thursday, May 12th. The transportation company reported $1.18 EPS for the quarter. Allegiant Travel had a negative net margin of 11.36% and a positive return on equity of 5.24%. The company had revenue of $496.88 million for the quarter. Analysts forecast that Allegiant Travel will post 7.7 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Bank of America raised their price target on Allegiant Travel from $50.00 to $55.00 and gave the company an “underperform” rating in a report on Wednesday, October 1st. UBS Group restated a “neutral” rating and set a $87.00 target price (up previously from $66.00) on shares of Allegiant Travel in a research note on Friday, December 12th. Deutsche Bank Aktiengesellschaft raised shares of Allegiant Travel from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a report on Friday, December 12th. Zacks Research raised shares of Allegiant Travel from a “strong sell” rating to a “hold” rating in a report on Thursday, September 4th. Finally, Barclays boosted their price objective on Allegiant Travel from $52.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 1st. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Allegiant Travel currently has an average rating of “Hold” and an average target price of $79.55.

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.