Allegiant Travel (NASDAQ:ALGT) Price Target Cut to $90.00 by Analysts at UBS Group

Allegiant Travel (NASDAQ:ALGT) had its price target reduced by UBS Group from $102.00 to $90.00 in a research report released on Monday,Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

Several other research firms have also recently issued reports on ALGT. Evercore increased their price objective on Allegiant Travel from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Zacks Research upgraded shares of Allegiant Travel from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 3rd. Raymond James Financial cut shares of Allegiant Travel from a “strong-buy” rating to an “outperform” rating and upped their price target for the stock from $78.00 to $98.00 in a research note on Friday, December 19th. Morgan Stanley raised 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 note on Thursday, February 5th. Finally, Susquehanna reissued a “positive” rating and set a $110.00 price target on shares of Allegiant Travel in a research note on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Allegiant Travel presently has an average rating of “Hold” and a consensus target price of $99.09.

Allegiant Travel Stock Performance

Shares of ALGT stock opened at $74.66 on Monday. 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 stock has a 50 day simple moving average of $94.93 and a 200-day simple moving average of $78.78. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -29.05, a price-to-earnings-growth ratio of 0.17 and a beta of 1.55. Allegiant Travel has a 12-month low of $39.80 and a 12-month high of $118.00.

Insiders Place Their Bets

In other Allegiant Travel news, Chairman Maurice J. Gallagher, Jr. sold 175,000 shares of Allegiant Travel 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. The trade was a 8.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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

Several large investors have recently modified their holdings of ALGT. Federated Hermes Inc. raised its position in shares of Allegiant Travel by 12.9% during the 2nd quarter. Federated Hermes Inc. now owns 215,531 shares of the transportation company’s stock worth $11,843,000 after purchasing an additional 24,557 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in Allegiant Travel during the 2nd quarter valued at $205,000. Apollo Management Holdings L.P. purchased a new position in Allegiant Travel during the second quarter worth $6,124,000. Jump Financial LLC increased its position in Allegiant Travel by 195.5% during the second quarter. Jump Financial LLC now owns 127,800 shares of the transportation company’s stock worth $7,023,000 after buying an additional 84,555 shares in the last quarter. Finally, Emerald Advisers LLC raised its holdings in shares of Allegiant Travel by 23.7% in the third quarter. Emerald Advisers LLC now owns 427,718 shares of the transportation company’s stock worth $25,992,000 after acquiring an additional 81,987 shares during the last quarter. 85.81% of the stock is currently owned by institutional investors and hedge funds.

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.