Allegiant Travel (NASDAQ:ALGT - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday after Raymond James raised their price target on the stock from $75.00 to $110.00. Raymond James currently has an outperform rating on the stock. Allegiant Travel traded as high as $94.53 and last traded at $94.38, with a volume of 174349 shares changing hands. The stock had previously closed at $92.24.
ALGT has been the topic of several other reports. StockNews.com downgraded shares of Allegiant Travel from a "hold" rating to a "sell" rating in a research report on Friday. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $83.00 target price on shares of Allegiant Travel in a report on Friday, November 15th. Evercore ISI boosted their price target on Allegiant Travel from $60.00 to $65.00 and gave the company an "in-line" rating in a report on Thursday, October 3rd. Morgan Stanley raised their price objective on Allegiant Travel from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Wednesday, December 11th. Finally, 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. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $69.11.
Get Our Latest Analysis on Allegiant Travel
Insider Buying and Selling
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 sale, the director now directly owns 11,650 shares in the company, valued at approximately $940,970.50. The trade was a 2.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the business's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $84.46, for a total transaction of $2,391,822.74. Following the completion of the sale, the chairman now owns 2,147,730 shares in the company, valued at approximately $181,397,275.80. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,600 shares of company stock valued at $2,476,465. Corporate insiders own 15.80% of the company's stock.
Hedge Funds Weigh In On Allegiant Travel
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of Allegiant Travel during the 3rd quarter worth approximately $63,540,000. Charles Schwab Investment Management Inc. raised its stake in Allegiant Travel by 41.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 257,456 shares of the transportation company's stock valued at $14,176,000 after purchasing an additional 75,486 shares in the last quarter. Clearbridge Investments LLC bought a new position in Allegiant Travel during the second quarter valued at $8,959,000. Hauser Brothers GmbH grew its stake in shares of Allegiant Travel by 73.0% in the 3rd quarter. Hauser Brothers GmbH now owns 23,700 shares of the transportation company's stock worth $1,305,000 after buying an additional 10,000 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Allegiant Travel by 1.7% in the 3rd quarter. State Street Corp now owns 608,977 shares of the transportation company's stock worth $33,530,000 after buying an additional 10,050 shares during the last quarter. 85.81% of the stock is owned by institutional investors.
Allegiant Travel Price Performance
The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. The firm's 50-day moving average price is $77.26 and its 200-day moving average price is $58.38. The stock has a market capitalization of $1.73 billion, a PE ratio of -62.75, a PEG ratio of 7.17 and a beta of 1.67.
About Allegiant Travel
(
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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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