Allegiant Travel (NASDAQ:ALGT) Stock Rating Upgraded by StockNews.com

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

Several other equities research analysts have also weighed in on the company. The Goldman Sachs Group reissued a "neutral" rating and set a $83.00 target price on shares of Allegiant Travel in a research report on Friday, November 15th. Barclays raised their price objective on shares of Allegiant Travel from $50.00 to $75.00 and gave the stock an "equal weight" rating in a report on Thursday, November 14th. UBS Group assumed coverage on shares of Allegiant Travel in a report on Tuesday, November 26th. They issued a "neutral" rating and a $16.00 target price for the company. Susquehanna lifted their price target on shares of Allegiant Travel from $55.00 to $60.00 and gave the stock a "neutral" rating in a research note on Monday, November 4th. Finally, TD Cowen upped their price objective on shares of Allegiant Travel from $50.00 to $70.00 and gave the company a "hold" rating in a research note on Tuesday, December 17th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Allegiant Travel presently has an average rating of "Hold" and a consensus price target of $69.11.

Allegiant Travel Stock Up 2.2 %

Shares of ALGT traded up $1.98 during midday trading on Friday, hitting $93.93. The company had a trading volume of 258,205 shares, compared to its average volume of 263,102. The company's 50-day simple moving average is $79.70 and its 200-day simple moving average is $59.48. 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 1 year low of $36.08 and a 1 year high of $96.93. The firm has a market capitalization of $1.72 billion, a P/E ratio of -62.62, a P/E/G ratio of 7.17 and a beta of 1.67.

Insider Transactions at Allegiant Travel

In other news, Director Sandra Douglass Morgan sold 350 shares of the business's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total transaction of $28,269.50. Following the transaction, the director now directly owns 11,650 shares in the company, valued at $940,970.50. The trade was a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Keny Frank Wilper sold 635 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total transaction of $39,808.15. Following the transaction, the chief operating officer now directly owns 16,353 shares of the company's stock, valued at $1,025,169.57. This represents a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,304 shares of company stock worth $2,459,900. Company insiders own 15.80% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Donald Smith & CO. Inc. lifted its position in shares of 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 acquiring an additional 516,545 shares during the period. U S Global Investors Inc. increased its stake in Allegiant Travel by 51.9% in the 3rd quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company's stock valued at $40,823,000 after purchasing an additional 253,198 shares in the last quarter. Clearbridge Investments LLC acquired a new position in Allegiant Travel during the second quarter worth $8,959,000. Millennium Management LLC boosted its position in Allegiant Travel by 779.8% during the second quarter. Millennium Management LLC now owns 169,459 shares of the transportation company's stock worth $8,512,000 after purchasing an additional 150,197 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Allegiant Travel in the third quarter valued at $63,540,000. Hedge funds and other 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.