By otakuyassine3@gmail.com 
Allegiant Travel (NASDAQ:ALGT – Get Free Report) saw a large decline in short interest in January. As of January 15th, there was short interest totalling 987,300 shares, a decline of 9.4% from the December 31st total of 1,090,000 shares. Based on an average trading volume of 380,100 shares, the days-to-cover ratio is currently 2.6 days. Currently, 6.9% of the company’s stock are short sold.
Insider Buying and Selling at Allegiant Travel
In related news, 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 transaction of $2,391,822.74. Following the transaction, the chairman now directly owns 2,147,730 shares in the company, valued at $181,397,275.80. The trade was a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sandra Douglass Morgan sold 350 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total transaction of $28,269.50. Following the completion of the sale, the director now directly owns 11,650 shares in the company, valued at $940,970.50. This trade represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.80% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Crews Bank & Trust bought a new position in shares of Allegiant Travel in the 4th quarter worth about $25,000. Signaturefd LLC boosted 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 worth $25,000 after buying an additional 273 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Allegiant Travel by 136.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock worth $29,000 after buying an additional 304 shares during the period. GAMMA Investing LLC increased its stake in shares of Allegiant Travel by 53.5% in the 4th quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock valued at $64,000 after acquiring an additional 236 shares in the last quarter. Finally, NBC Securities Inc. lifted its position 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 valued at $69,000 after acquiring an additional 1,216 shares during the period. 85.81% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms recently weighed in on ALGT. Bank of America boosted their price target on shares of Allegiant Travel from $54.00 to $95.00 and gave the stock an “underperform” rating in a research note on Friday, January 17th. The Goldman Sachs Group increased their price target on Allegiant Travel from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Raymond James lifted their price objective on Allegiant Travel from $75.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, December 30th. UBS Group assumed coverage on Allegiant Travel in a research note on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 target price on the stock. Finally, Susquehanna boosted their target price on Allegiant Travel from $60.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $79.60.
Read Our Latest Research Report on ALGT
Allegiant Travel Trading Down 1.6 %
Shares of NASDAQ ALGT traded down $1.63 during midday trading on Friday, reaching $102.43. 251,317 shares of the company were exchanged, compared to its average volume of 259,059. Allegiant Travel has a one year low of $36.08 and a one year high of $107.57. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The stock’s 50-day moving average price is $92.11 and its 200-day moving average price is $66.76.
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.
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