Allegiant Travel (NASDAQ:ALGT) Reaches New 1-Year High on Analyst Upgrade

Allegiant Travel (NASDAQ:ALGT - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday after StockNews.com upgraded the stock from a sell rating to a hold rating. The company traded as high as $103.50 and last traded at $103.30, with a volume of 15178 shares traded. The stock had previously closed at $100.97.

ALGT has been the topic of a number of other research reports. Barclays lifted their target price on Allegiant Travel from $50.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 14th. UBS Group started coverage on Allegiant Travel in a research note on Tuesday, November 26th. They set a "neutral" rating and a $16.00 price objective on the stock. The Goldman Sachs Group boosted their target price on shares of Allegiant Travel from $83.00 to $92.00 and gave the company a "neutral" rating in a research note on Tuesday. TD Cowen raised their price target on shares of Allegiant Travel from $50.00 to $70.00 and gave the stock a "hold" rating in a research report on Tuesday, December 17th. Finally, Evercore ISI lifted their price target on shares of Allegiant Travel from $60.00 to $65.00 and gave the company an "in-line" rating in a report on Thursday, October 3rd. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Allegiant Travel presently has an average rating of "Hold" and a consensus price target of $75.11.

Insider Buying and Selling

In related news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $84.46, for a total value of $2,391,822.74. Following the completion of the transaction, the chairman now directly owns 2,147,730 shares of the company's stock, valued at $181,397,275.80. This represents a 1.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Keny Frank Wilper sold 635 shares of Allegiant Travel stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total value of $39,808.15. Following the sale, the chief operating officer now directly owns 16,353 shares in the company, 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. Insiders have sold a total of 29,304 shares of company stock valued at $2,459,900 in the last quarter. Company insiders own 15.80% of the company's stock.

Institutional Investors Weigh In On Allegiant Travel

Several institutional investors have recently bought and sold shares of the stock. Signaturefd LLC increased its stake in Allegiant Travel by 149.2% during the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company's stock valued at $25,000 after buying an additional 273 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Allegiant Travel by 136.9% in the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company's stock valued at $29,000 after acquiring an additional 304 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Allegiant Travel by 53.5% during the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company's stock valued at $64,000 after acquiring an additional 236 shares during the period. NBC Securities Inc. raised its holdings in Allegiant Travel by 2,827.9% during the third quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company's stock worth $69,000 after purchasing an additional 1,216 shares in the last quarter. Finally, Stifel Financial Corp acquired a new stake in Allegiant Travel in the third quarter worth approximately $210,000. Institutional investors and hedge funds own 85.81% of the company's stock.

Allegiant Travel Trading Up 1.1 %

The stock has a market capitalization of $1.87 billion, a P/E ratio of -68.08, a price-to-earnings-growth ratio of 7.17 and a beta of 1.62. The business has a 50 day simple moving average of $84.64 and a 200-day simple moving average of $61.89. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75.

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.