Allegiant Travel (NASDAQ:ALGT) Downgraded to "Sell" Rating by StockNews.com

Allegiant Travel (NASDAQ:ALGT - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "hold" rating to a "sell" rating in a research report issued on Friday.

ALGT has been the subject of several other research reports. TD Cowen increased their price objective on Allegiant Travel from $50.00 to $70.00 and gave the company a "hold" rating in a report on Tuesday, December 17th. Morgan Stanley upped their price objective on shares of Allegiant Travel from $80.00 to $90.00 and gave the company an "equal weight" rating in a report on Wednesday, December 11th. Evercore ISI lifted their target price on shares of Allegiant Travel from $60.00 to $65.00 and gave the stock an "in-line" rating in a research note on Thursday, October 3rd. UBS Group initiated coverage on shares of Allegiant Travel in a research report on Tuesday, November 26th. They set a "neutral" rating and a $16.00 target price on the stock. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $83.00 price target on shares of Allegiant Travel in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Allegiant Travel currently has a consensus rating of "Hold" and a consensus target price of $68.00.

Allegiant Travel Stock Down 0.3 %

Shares of Allegiant Travel stock traded down $0.30 on Friday, reaching $91.11. The stock had a trading volume of 226,431 shares, compared to its average volume of 366,945. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $94.45. The company has a 50 day moving average price of $76.68 and a 200 day moving average price of $58.04. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $1.67 billion, a P/E ratio of -60.74, a P/E/G ratio of 7.17 and a beta of 1.67.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, Director Sandra Douglass Morgan sold 350 shares of Allegiant Travel stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total value of $28,269.50. Following the completion of the transaction, the director now owns 11,650 shares of the company's stock, valued at approximately $940,970.50. The trade was a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Keny Frank Wilper sold 635 shares of the company's stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total value of $39,808.15. Following the completion of the transaction, the chief operating officer now directly owns 16,353 shares of the company's stock, valued at $1,025,169.57. The trade was a 3.74 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,600 shares of company stock valued at $2,476,465. 15.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Allegiant Travel

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC increased its stake in shares of Allegiant Travel by 149.2% during the third quarter. Signaturefd LLC now owns 456 shares of the transportation company's stock worth $25,000 after purchasing an additional 273 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Allegiant Travel by 136.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company's stock worth $29,000 after buying an additional 304 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Allegiant Travel during the second quarter valued at approximately $34,000. NBC Securities Inc. lifted its position in shares of Allegiant Travel by 2,827.9% in the third quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company's stock valued at $69,000 after acquiring an additional 1,216 shares in the last quarter. Finally, Headlands Technologies LLC boosted its stake in shares of Allegiant Travel by 170.6% in the second quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company's stock worth $127,000 after acquiring an additional 1,590 shares during the last quarter. 85.81% of the stock is owned by hedge funds and other institutional investors.

About Allegiant Travel

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.

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