Short Interest in Allegiant Travel (NASDAQ:ALGT) Decreases By 12.1%

Allegiant Travel (NASDAQ:ALGT - Get Free Report) was the target of a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 1,230,000 shares, a drop of 12.1% from the November 15th total of 1,400,000 shares. Based on an average daily trading volume, of 417,400 shares, the days-to-cover ratio is currently 2.9 days. Currently, 7.9% of the company's stock are sold short.

Allegiant Travel Stock Performance

Shares of Allegiant Travel stock traded down $2.44 during trading hours on Friday, reaching $84.90. The company's stock had a trading volume of 774,666 shares, compared to its average volume of 370,562. Allegiant Travel has a one year low of $36.08 and a one year high of $94.45. The company's 50 day simple moving average is $71.21 and its 200 day simple moving average is $55.75. The stock has a market cap of $1.56 billion, a P/E ratio of -56.60, a price-to-earnings-growth ratio of 7.17 and a beta of 1.67. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75.

Analyst Ratings Changes

A number of brokerages have issued reports on ALGT. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $83.00 target price on shares of Allegiant Travel in a research report on Friday, November 15th. UBS Group started coverage on shares of Allegiant Travel in a report on Tuesday, November 26th. They issued a "neutral" rating and a $16.00 price target on the stock. Evercore ISI increased their price objective on shares of Allegiant Travel from $60.00 to $65.00 and gave the company an "in-line" rating in a research note on Thursday, October 3rd. Morgan Stanley boosted their target price on shares of Allegiant Travel from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Finally, Wolfe Research cut shares of Allegiant Travel from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 4th. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Allegiant Travel has a consensus rating of "Hold" and an average target price of $65.78.

Insider Activity at Allegiant Travel

In other Allegiant Travel news, COO Keny Frank Wilper sold 635 shares of the business's 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 transaction, the chief operating officer now owns 16,353 shares in the company, valued at $1,025,169.57. The trade was a 3.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sandra Douglass Morgan sold 350 shares of the firm's stock in a transaction dated 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 owns 11,650 shares of the company's stock, valued at $940,970.50. This represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,600 shares of company stock worth $2,476,465. 15.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Allegiant Travel

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. boosted its stake in shares of Allegiant Travel by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company's stock valued at $34,584,000 after purchasing an additional 14,852 shares during the last quarter. Barclays PLC raised its stake in shares of Allegiant Travel by 136.9% during the third quarter. Barclays PLC now owns 31,876 shares of the transportation company's stock worth $1,755,000 after buying an additional 18,421 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Allegiant Travel by 1.5% in the third quarter. Geode Capital Management LLC now owns 364,755 shares of the transportation company's stock valued at $20,089,000 after buying an additional 5,424 shares during the period. XTX Topco Ltd boosted its stake in Allegiant Travel by 15.0% in the third quarter. XTX Topco Ltd now owns 17,491 shares of the transportation company's stock valued at $963,000 after acquiring an additional 2,279 shares during the last quarter. Finally, State Street Corp grew its holdings in Allegiant Travel by 1.7% during the 3rd quarter. State Street Corp now owns 608,977 shares of the transportation company's stock worth $33,530,000 after acquiring an additional 10,050 shares during the period. 85.81% of the stock is owned by institutional investors and hedge funds.

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.