Allegiant Travel (NASDAQ:ALGT) Trading Up 4.3% - Here's Why

Allegiant Travel (NASDAQ:ALGT - Get Free Report) traded up 4.3% during trading on Tuesday . The company traded as high as $60.13 and last traded at $60.08. 66,218 shares were traded during mid-day trading, a decline of 82% from the average session volume of 359,232 shares. The stock had previously closed at $57.62.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Barclays reduced their target price on shares of Allegiant Travel from $55.00 to $45.00 and set an "equal weight" rating for the company in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft lowered Allegiant Travel from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $75.00 to $53.00 in a research note on Monday, July 8th. Evercore ISI boosted their target price on Allegiant Travel from $60.00 to $65.00 and gave the stock an "in-line" rating in a research report on Thursday, October 3rd. Susquehanna increased their price target on Allegiant Travel from $40.00 to $55.00 and gave the company a "neutral" rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley dropped their price target on Allegiant Travel from $95.00 to $87.00 and set an "equal weight" rating on the stock in a research note on Monday, July 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $63.13.

Allegiant Travel Trading Up 2.9 %

The company has a market cap of $1.08 billion, a PE ratio of 18.77, a PEG ratio of 3.11 and a beta of 1.65. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.71 and a current ratio of 0.74. The company has a 50 day simple moving average of $45.58 and a two-hundred day simple moving average of $50.91.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The transportation company reported $1.77 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.93. Allegiant Travel had a negative net margin of 0.57% and a positive return on equity of 3.48%. The firm had revenue of $666.28 million for the quarter, compared to the consensus estimate of $657.74 million. During the same period in the previous year, the firm posted $4.35 earnings per share. The firm's revenue was down 2.6% on a year-over-year basis. Sell-side analysts forecast that Allegiant Travel will post 1.47 EPS for the current year.

Insider Buying and Selling

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the business's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the transaction, the director now owns 7,490 shares in the company, valued at $337,050. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 1,699 shares of company stock worth $77,350. Corporate insiders own 17.50% of the company's stock.

Institutional Trading of Allegiant Travel

Several large investors have recently added to or reduced their stakes in the business. Innealta Capital LLC acquired a new stake in shares of Allegiant Travel in the 2nd quarter valued at $34,000. CWM LLC boosted its stake in shares of Allegiant Travel by 275.1% during the 2nd quarter. CWM LLC now owns 1,268 shares of the transportation company's stock worth $64,000 after acquiring an additional 930 shares in the last quarter. NBC Securities Inc. boosted its stake in shares of Allegiant Travel by 2,827.9% during the 3rd quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company's stock worth $69,000 after acquiring an additional 1,216 shares in the last quarter. Headlands Technologies LLC increased its holdings in shares of Allegiant Travel by 170.6% during the 2nd quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company's stock valued at $127,000 after acquiring an additional 1,590 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Allegiant Travel in the 1st quarter valued at approximately $141,000. 85.81% of the stock is 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.