Allegiant Travel (NASDAQ:ALGT) Short Interest Update

Allegiant Travel (NASDAQ:ALGT - Get Free Report) saw a large decline in short interest during the month of January. As of January 15th, there was short interest totalling 987,300 shares, a decline of 9.4% from the December 31st total of 1,090,000 shares. Based on an average daily volume of 380,100 shares, the short-interest ratio is currently 2.6 days. Approximately 6.9% of the company's stock are short sold.

Allegiant Travel Stock Performance

Shares of NASDAQ ALGT traded down $4.35 during midday trading on Monday, reaching $98.09. 302,033 shares of the company traded hands, compared to its average volume of 285,255. The company has a market cap of $1.80 billion, a price-to-earnings ratio of -65.55, a PEG ratio of 1.36 and a beta of 1.63. The stock has a 50-day moving average price of $92.11 and a 200 day moving average price of $66.86. Allegiant Travel has a 52 week low of $36.08 and a 52 week high of $107.57. 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 Transactions 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 $940,970.50. The trade was a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the 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 sale, the chairman now directly owns 2,147,730 shares in the company, valued at $181,397,275.80. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.80% of the company's stock.

Hedge Funds Weigh In On Allegiant Travel

Large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new position in Allegiant Travel in the second quarter worth approximately $1,728,000. Sei Investments Co. lifted its stake in Allegiant Travel by 22.0% during the second quarter. Sei Investments Co. now owns 12,108 shares of the transportation company's stock valued at $608,000 after buying an additional 2,180 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of Allegiant Travel in the second quarter worth about $450,000. Millennium Management LLC increased its position in shares of Allegiant Travel by 779.8% in the second quarter. Millennium Management LLC now owns 169,459 shares of the transportation company's stock worth $8,512,000 after acquiring an additional 150,197 shares in the last quarter. Finally, Creative Planning raised its holdings in shares of Allegiant Travel by 139.6% during the second quarter. Creative Planning now owns 9,875 shares of the transportation company's stock valued at $496,000 after acquiring an additional 5,753 shares during the period. Institutional investors and hedge funds own 85.81% of the company's stock.

Analysts Set New Price Targets

ALGT has been the topic of several research reports. Susquehanna increased their price objective on shares of Allegiant Travel from $60.00 to $105.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 7th. Wolfe Research cut Allegiant Travel from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 4th. StockNews.com upgraded Allegiant Travel from a "sell" rating to a "hold" rating in a research report on Wednesday, January 15th. Barclays increased their target price on Allegiant Travel from $85.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 16th. Finally, Bank of America raised their target price on Allegiant Travel from $54.00 to $95.00 and gave the company an "underperform" rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $79.60.

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.