Allegiant Travel (NASDAQ:ALGT) Raised to Hold at StockNews.com

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

ALGT has been the topic of a number of other research reports. Wolfe Research lowered shares of Allegiant Travel from a "strong-buy" rating to a "hold" rating in a report on Monday, November 4th. Morgan Stanley boosted their target price on shares of Allegiant Travel from $80.00 to $90.00 and gave the company an "equal weight" rating in a research note on Wednesday, December 11th. UBS Group began coverage on Allegiant Travel in a research report on Tuesday, November 26th. They issued a "neutral" rating and a $16.00 target price for the company. Barclays upped their price target on Allegiant Travel from $50.00 to $75.00 and gave the company an "equal weight" rating in a research report on Thursday, November 14th. Finally, Susquehanna raised their price objective on Allegiant Travel from $55.00 to $60.00 and gave the stock a "neutral" rating in a research report on Monday, November 4th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $68.00.

Allegiant Travel Trading Up 1.6 %

ALGT traded up $1.27 during trading on Thursday, reaching $82.12. The company had a trading volume of 184,009 shares, compared to its average volume of 368,819. 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 has a 12-month low of $36.08 and a 12-month high of $94.45. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -54.75, a PEG ratio of 7.17 and a beta of 1.67. The firm's 50-day simple moving average is $73.31 and its 200 day simple moving average is $56.55.

Insider Activity

In other Allegiant Travel news, COO Keny Frank Wilper sold 635 shares of the business'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 sale, the chief operating officer now owns 16,353 shares of the company's stock, valued at $1,025,169.57. The trade was a 3.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were 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 in the company, valued at $181,397,275.80. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,600 shares of company stock worth $2,476,465 in the last three months. 15.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Allegiant Travel

A number of institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. acquired a new stake in Allegiant Travel in the 2nd quarter valued at approximately $285,000. JB Capital LLC grew its stake in shares of Allegiant Travel by 48.0% in the second quarter. JB Capital LLC now owns 6,188 shares of the transportation company's stock worth $311,000 after acquiring an additional 2,008 shares during the last quarter. Bank of New York Mellon Corp increased its position in Allegiant Travel by 7.7% during the second quarter. Bank of New York Mellon Corp now owns 215,533 shares of the transportation company's stock worth $10,826,000 after acquiring an additional 15,469 shares during the period. Innealta Capital LLC acquired a new position in Allegiant Travel during the 2nd quarter valued at $34,000. Finally, Versor Investments LP boosted its holdings in Allegiant Travel by 34.5% in the 2nd quarter. Versor Investments LP now owns 5,794 shares of the transportation company's stock valued at $291,000 after purchasing an additional 1,486 shares during the period. 85.81% of the stock is currently owned by 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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