Allegiant Travel Company (NASDAQ:ALGT) Given Average Rating of “Hold” by Brokerages

Shares of Allegiant Travel Company (NASDAQ:ALGT) have received a consensus recommendation of “Hold” from the thirteen brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $97.9091.

Several equities analysts have recently issued reports on the company. Susquehanna reissued a “positive” rating and issued a $110.00 price objective on shares of Allegiant Travel in a report on Friday, February 6th. Raymond James Financial cut Allegiant Travel from a “strong-buy” rating to an “outperform” rating and lifted their price target for the company from $78.00 to $98.00 in a research report on Friday, December 19th. Wall Street Zen raised Allegiant Travel from a “sell” rating to a “hold” rating in a report on Sunday, December 28th. UBS Group upped their price objective on Allegiant Travel from $90.00 to $93.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Bank of America upgraded shares of Allegiant Travel from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $55.00 to $95.00 in a research note on Tuesday, January 6th.

Allegiant Travel Price Performance

NASDAQ:ALGT opened at $82.34 on Tuesday. The firm’s fifty day moving average is $93.60 and its two-hundred day moving average is $79.31. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -32.04, a PEG ratio of 0.18 and a beta of 1.55. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.92 and a current ratio of 0.95. Allegiant Travel has a one year low of $39.80 and a one year high of $118.00.

Insider Activity at Allegiant Travel

In related news, Chairman Maurice J. Gallagher, Jr. sold 861 shares of Allegiant Travel stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $114.00, for a total value of $98,154.00. Following the completion of the transaction, the chairman owned 150,000 shares in the company, valued at $17,100,000. The trade was a 0.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 300,000 shares of company stock worth $34,350,512. 14.70% of the stock is owned by company insiders.

Institutional Trading of Allegiant Travel

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