Allegiant Travel Company (NASDAQ:ALGT) Short Interest Update

Allegiant Travel Company (NASDAQ:ALGT) was the target of a large growth in short interest in January. As of January 30th, there was short interest totaling 2,252,311 shares, a growth of 21.5% from the January 15th total of 1,854,477 shares. Based on an average daily volume of 452,055 shares, the days-to-cover ratio is presently 5.0 days. Approximately 14.4% of the shares of the company are short sold. Approximately 14.4% of the shares of the company are short sold. Based on an average daily volume of 452,055 shares, the days-to-cover ratio is presently 5.0 days.

Wall Street Analysts Forecast Growth

ALGT has been the subject of several research analyst reports. Morgan Stanley raised their price objective on Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Susquehanna reissued a “positive” rating and set a $110.00 price target on shares of Allegiant Travel in a research report on Friday, February 6th. Wolfe Research raised shares of Allegiant Travel from a “peer perform” rating to an “outperform” rating and set a $108.00 price objective on the stock in a report on Tuesday, January 20th. Deutsche Bank Aktiengesellschaft upgraded shares of Allegiant Travel from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a research note on Friday, December 12th. Finally, Citigroup boosted their target price on shares of Allegiant Travel from $109.00 to $114.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $100.18.

Allegiant Travel Trading Up 1.8%

Shares of Allegiant Travel stock opened at $111.30 on Tuesday. Allegiant Travel has a fifty-two week low of $39.80 and a fifty-two week high of $118.00. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.95 and a current ratio of 0.98. The company has a market cap of $2.04 billion, a P/E ratio of -43.31, a price-to-earnings-growth ratio of 0.26 and a beta of 1.64. The firm has a 50-day simple moving average of $91.59 and a two-hundred day simple moving average of $73.40.

Insider Activity

In other news, Chairman Maurice J. Gallagher, Jr. sold 175,000 shares of Allegiant Travel stock in a transaction on 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 sale, the chairman directly 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 300,000 shares of company stock valued at $34,350,512 over the last three months. Company insiders own 14.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ALGT. Vanguard Group Inc. lifted its holdings in Allegiant Travel by 4.1% during the third quarter. Vanguard Group Inc. now owns 1,677,608 shares of the transportation company’s stock valued at $101,948,000 after purchasing an additional 66,596 shares in the last quarter. Donald Smith & CO. Inc. raised its position in shares of Allegiant Travel by 11.6% during the 2nd quarter. Donald Smith & CO. Inc. now owns 1,506,633 shares of the transportation company’s stock worth $82,789,000 after purchasing an additional 156,186 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Allegiant Travel by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 828,012 shares of the transportation company’s stock valued at $70,607,000 after buying an additional 7,228 shares in the last quarter. American Century Companies Inc. lifted its stake in Allegiant Travel by 5.7% in the 3rd quarter. American Century Companies Inc. now owns 688,322 shares of the transportation company’s stock valued at $41,829,000 after buying an additional 37,205 shares in the last quarter. Finally, Par Capital Management Inc. boosted its holdings in Allegiant Travel by 11.1% in the 2nd quarter. Par Capital Management Inc. now owns 584,996 shares of the transportation company’s stock worth $32,146,000 after buying an additional 58,566 shares during the last quarter. 85.81% of the stock is owned by institutional investors and hedge funds.

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.