Allegiant Travel (NASDAQ:ALGT) Shares Gap Up – Should You Buy?

Allegiant Travel Company (NASDAQ:ALGT)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $84.24, but opened at $89.79. Allegiant Travel shares last traded at $93.1680, with a volume of 62,323 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ALGT shares. Barclays increased their price target on shares of Allegiant Travel from $60.00 to $95.00 and gave the stock an “equal weight” rating in a report on Monday, January 12th. Bank of America upgraded shares of Allegiant Travel from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $55.00 to $95.00 in a research report on Tuesday, January 6th. UBS Group increased their target price on shares of Allegiant Travel from $90.00 to $93.00 and gave the stock a “neutral” rating in a research note on Monday, March 23rd. Weiss Ratings restated a “sell (d)” rating on shares of Allegiant Travel in a research report on Wednesday, January 21st. Finally, Evercore lifted their price target on Allegiant Travel from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Allegiant Travel presently has an average rating of “Hold” and an average target price of $97.91.

Allegiant Travel Stock Performance

The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -35.72, a P/E/G ratio of 0.44 and a beta of 1.63. The firm’s 50-day moving average is $90.85 and its two-hundred day moving average is $82.11. The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 1.60.

Insider Buying and Selling at Allegiant Travel

In other news, Chairman Maurice J. Gallagher, Jr. sold 175,000 shares of Allegiant Travel stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $114.23, for a total value of $19,990,250.00. Following the sale, the chairman directly owned 1,962,348 shares of the company’s stock, valued at $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 available at this link. Insiders sold a total of 300,000 shares of company stock valued at $34,350,512 in the last quarter. Company insiders own 14.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. boosted its stake in Allegiant Travel by 442.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 542 shares of the transportation company’s stock worth $33,000 after purchasing an additional 442 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Allegiant Travel by 27.3% in the fourth quarter. Signaturefd LLC now owns 546 shares of the transportation company’s stock worth $47,000 after buying an additional 117 shares in the last quarter. AlphaQuest LLC boosted its position in Allegiant Travel by 119.2% during the third quarter. AlphaQuest LLC now owns 1,120 shares of the transportation company’s stock worth $68,000 after acquiring an additional 609 shares during the last quarter. iSAM Funds UK Ltd acquired a new position in Allegiant Travel during the third quarter worth about $69,000. Finally, NewEdge Advisors LLC grew its stake in Allegiant Travel by 43.7% during the 2nd quarter. NewEdge Advisors LLC now owns 1,227 shares of the transportation company’s stock valued at $67,000 after acquiring an additional 373 shares in the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Allegiant Travel Company Profile

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.