Allegiant Travel (NASDAQ:ALGT) Reaches New 1-Year High - Still a Buy?

Allegiant Travel (NASDAQ:ALGT - Get Free Report) shares reached a new 52-week high on Monday . The company traded as high as $100.12 and last traded at $99.46, with a volume of 53924 shares trading hands. The stock had previously closed at $93.93.

Analysts Set New Price Targets

Several research firms recently commented on ALGT. Morgan Stanley upped their price objective on Allegiant Travel from $80.00 to $90.00 and gave the company an "equal weight" rating in a research note on Wednesday, December 11th. Susquehanna boosted their price objective on Allegiant Travel from $55.00 to $60.00 and gave the company a "neutral" rating in a research note on Monday, November 4th. Raymond James increased their target price on shares of Allegiant Travel from $75.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, December 30th. Wolfe Research cut shares of Allegiant Travel from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 4th. Finally, UBS Group started coverage on shares of Allegiant Travel in a report on Tuesday, November 26th. They set a "neutral" rating and a $16.00 target price on the stock. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $69.11.

Allegiant Travel Stock Up 4.5 %

The company has a fifty day moving average price of $80.38 and a 200 day moving average price of $59.84. The company has a market cap of $1.80 billion, a PE ratio of -65.41, a price-to-earnings-growth ratio of 7.17 and a beta of 1.62. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72.

Insider Activity

In related 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 transaction, the director now owns 11,650 shares in the company, valued at $940,970.50. This trade represents a 2.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the business's stock in a transaction dated 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 sale, the chairman now directly owns 2,147,730 shares of the company's stock, valued at approximately $181,397,275.80. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,304 shares of company stock worth $2,459,900. 15.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Allegiant Travel

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Donald Smith & CO. Inc. raised its holdings in Allegiant Travel by 166.7% during the 2nd quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company's stock valued at $41,506,000 after buying an additional 516,545 shares during the last quarter. U S Global Investors Inc. grew its stake in shares of Allegiant Travel by 51.9% in the third quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company's stock worth $40,823,000 after purchasing an additional 253,198 shares during the last quarter. Clearbridge Investments LLC purchased a new position in Allegiant Travel during the 2nd quarter valued at about $8,959,000. Millennium Management LLC raised its position in Allegiant Travel by 779.8% during the 2nd quarter. Millennium Management LLC now owns 169,459 shares of the transportation company's stock valued at $8,512,000 after purchasing an additional 150,197 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Allegiant Travel in the 3rd quarter worth approximately $63,540,000. Institutional investors own 85.81% of the company's stock.

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.