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

StockNews.com upgraded shares of Allegiant Travel (NASDAQ:ALGT - Free Report) from a sell rating to a hold rating in a report released on Wednesday morning.

Other analysts also recently issued research reports about the company. Wolfe Research downgraded Allegiant Travel from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 4th. Susquehanna increased their price target on Allegiant Travel from $60.00 to $105.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. Raymond James upped their target price on shares of Allegiant Travel from $75.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, December 30th. The Goldman Sachs Group boosted their price objective on shares of Allegiant Travel from $83.00 to $92.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, Morgan Stanley raised their target price on Allegiant Travel from $80.00 to $90.00 and gave the stock an "equal weight" rating in a report on Wednesday, December 11th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $75.11.

Allegiant Travel Stock Up 1.1 %

Allegiant Travel stock traded up $1.15 on Wednesday, hitting $102.12. 289,966 shares of the stock traded hands, compared to its average volume of 308,452. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $105.15. The firm has a market cap of $1.87 billion, a P/E ratio of -68.08, a price-to-earnings-growth ratio of 7.17 and a beta of 1.62. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. The business's fifty day simple moving average is $84.64 and its 200 day simple moving average is $61.89.

Insider Buying and Selling

In other news, Director Sandra Douglass Morgan sold 350 shares of the firm's stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total transaction of $28,269.50. Following the completion of the transaction, the director now owns 11,650 shares in the company, valued at $940,970.50. This trade represents a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the business's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $84.46, for a total value of $2,391,822.74. Following the completion of the sale, the chairman now owns 2,147,730 shares in the company, valued at $181,397,275.80. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,304 shares of company stock valued at $2,459,900. Corporate insiders own 15.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC lifted its position in Allegiant Travel by 149.2% during the third 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 grew its position in Allegiant Travel by 136.9% in the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company's stock worth $29,000 after acquiring an additional 304 shares in the last quarter. GAMMA Investing LLC increased its stake in Allegiant Travel by 53.5% during the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company's stock worth $64,000 after acquiring an additional 236 shares during the last quarter. NBC Securities Inc. raised its position in Allegiant Travel by 2,827.9% during the third quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company's stock valued at $69,000 after purchasing an additional 1,216 shares during the period. Finally, Stifel Financial Corp bought a new stake in shares of Allegiant Travel in the 3rd quarter valued at approximately $210,000. 85.81% of the stock is owned by hedge funds and other 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.