Allegiant Travel (NASDAQ:ALGT) Shares Down 5.9% - Should You Sell?

Allegiant Travel (NASDAQ:ALGT - Get Free Report) was down 5.9% on Tuesday . The stock traded as low as $59.42 and last traded at $60.01. Approximately 145,950 shares traded hands during trading, a decline of 59% from the average daily volume of 360,072 shares. The stock had previously closed at $63.80.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ALGT shares. Deutsche Bank Aktiengesellschaft cut 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. Morgan Stanley reduced their price objective 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. TD Cowen boosted their price objective on Allegiant Travel from $33.00 to $42.00 and gave the stock a "hold" rating in a research note on Thursday, October 3rd. Barclays cut their target price on Allegiant Travel from $55.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 10th. Finally, Evercore ISI upped their target price on Allegiant Travel from $60.00 to $65.00 and gave the company an "in-line" rating in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $63.13.

Allegiant Travel Stock Performance

The company has a market cap of $1.11 billion, a P/E ratio of 19.21, a PEG ratio of 3.11 and a beta of 1.65. The firm has a 50 day moving average of $50.44 and a 200-day moving average of $50.77. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 1.30.

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

Insiders Place Their Bets

In other Allegiant Travel news, COO Keny Frank Wilper sold 635 shares of the company's stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total transaction of $39,808.15. Following the completion of the sale, the chief operating officer now owns 16,353 shares in the company, valued at $1,025,169.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Gary Ellmer sold 1,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the sale, the director now owns 7,490 shares in the company, valued at approximately $337,050. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Keny Frank Wilper sold 635 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total value of $39,808.15. Following the sale, the chief operating officer now owns 16,353 shares of the company's stock, valued at approximately $1,025,169.57. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,334 shares of company stock worth $117,158 over the last 90 days. Company insiders own 17.50% of the company's stock.

Institutional Trading of Allegiant Travel

Hedge funds and other institutional investors have recently made changes to their positions in the business. Signaturefd LLC lifted its holdings in shares of Allegiant Travel by 149.2% during the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company's stock valued at $25,000 after purchasing an additional 273 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Allegiant Travel by 136.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company's stock valued at $29,000 after acquiring an additional 304 shares during the period. Innealta Capital LLC acquired a new position in shares of Allegiant Travel in the 2nd quarter valued at $34,000. CWM LLC increased its position in shares of Allegiant Travel by 275.1% in the 2nd quarter. CWM LLC now owns 1,268 shares of the transportation company's stock valued at $64,000 after acquiring an additional 930 shares during the period. Finally, NBC Securities Inc. increased its position in shares of Allegiant Travel by 2,827.9% in the 3rd quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company's stock valued at $69,000 after acquiring an additional 1,216 shares during the period. Hedge funds and other institutional investors own 85.81% of the company's stock.

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.