Insider Selling: Allegiant Travel (NASDAQ:ALGT) COO Sells 278 Shares of Stock

Allegiant Travel (NASDAQ:ALGT - Get Free Report) COO Keny Frank Wilper sold 278 shares of Allegiant Travel stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $41.41, for a total transaction of $11,511.98. Following the transaction, the chief operating officer now directly owns 15,918 shares of the company's stock, valued at approximately $659,164.38. This represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Allegiant Travel Stock Performance

NASDAQ:ALGT traded up $0.06 during midday trading on Monday, hitting $46.57. The company's stock had a trading volume of 44,719 shares, compared to its average volume of 417,555. The firm has a market cap of $854.00 million, a P/E ratio of -3.48 and a beta of 1.57. Allegiant Travel has a fifty-two week low of $36.09 and a fifty-two week high of $107.57. The firm's 50 day moving average is $64.25 and its 200-day moving average is $74.63. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its earnings results on Tuesday, February 4th. The transportation company reported $2.10 EPS for the quarter, topping the consensus estimate of $0.48 by $1.62. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. Equities analysts anticipate that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

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Institutional Investors Weigh In On Allegiant Travel

Hedge funds have recently modified their holdings of the company. Signaturefd LLC raised its stake in Allegiant Travel by 30.3% in the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company's stock valued at $56,000 after purchasing an additional 138 shares during the last quarter. SeaCrest Wealth Management LLC raised its position in shares of Allegiant Travel by 3.3% in the fourth quarter. SeaCrest Wealth Management LLC now owns 6,210 shares of the transportation company's stock valued at $584,000 after buying an additional 200 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Allegiant Travel by 94.5% in the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company's stock worth $43,000 after buying an additional 223 shares in the last quarter. GAMMA Investing LLC lifted its stake in Allegiant Travel by 53.5% in the 4th quarter. GAMMA Investing LLC now owns 677 shares of the transportation company's stock worth $64,000 after purchasing an additional 236 shares in the last quarter. Finally, Crews Bank & Trust purchased a new position in Allegiant Travel during the fourth quarter worth approximately $25,000. 85.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on ALGT shares. Bank of America decreased their target price on Allegiant Travel from $95.00 to $50.00 and set an "underperform" rating for the company in a research report on Thursday, April 3rd. Barclays lowered their target price on Allegiant Travel from $100.00 to $60.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. UBS Group lowered their price target on shares of Allegiant Travel from $61.00 to $45.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Raymond James upgraded Allegiant Travel from an "outperform" rating to a "strong-buy" rating and dropped their target price for the stock from $125.00 to $90.00 in a research note on Wednesday, April 2nd. Finally, The Goldman Sachs Group increased their price target on Allegiant Travel from $83.00 to $92.00 and gave the company a "neutral" rating in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Allegiant Travel currently has an average rating of "Hold" and an average target price of $67.00.

Allegiant Travel Company Profile

Allegiant Travel Company, a leisure travel company, provides travel services and products to residents of under-served cities in the United States. The company offers scheduled air transportation on limited-frequency, nonstop flights between under-served cities and leisure destinations. As of February 1, 2024, it operated a fleet of 126 Airbus A320 series aircraft.