By otakuyassine3@gmail.com 
StockNews.com upgraded shares of Allegiant Travel (NASDAQ:ALGT – Free Report) from a sell rating to a hold rating in a research report sent to investors on Wednesday.
Other equities analysts have also issued research reports about the stock. Susquehanna increased their price target on shares of Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Wolfe Research lowered Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Barclays upped their target price on shares of Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. UBS Group started coverage on Allegiant Travel in a report on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 price target on the stock. Finally, TD Cowen lifted their price target on Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $79.60.
Read Our Latest Research Report on ALGT
Allegiant Travel Stock Up 0.6 %
ALGT stock opened at $102.99 on Wednesday. The stock has a market cap of $1.89 billion, a P/E ratio of -68.66, a P/E/G ratio of 1.33 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 stock’s fifty day simple moving average is $86.42 and its two-hundred day simple moving average is $62.82. Allegiant Travel has a 1-year low of $36.08 and a 1-year high of $105.15.
Insider Activity at Allegiant Travel
In other news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of Allegiant Travel stock in a transaction that occurred on 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 transaction, the chairman now owns 2,147,730 shares in the company, valued at approximately $181,397,275.80. The trade was a 1.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Keny Frank Wilper sold 635 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total value of $39,808.15. Following the sale, the chief operating officer now directly owns 16,353 shares of the company’s stock, valued at $1,025,169.57. This represents a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders 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
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew its position in Allegiant Travel by 1,614.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 9,017 shares of the transportation company’s stock worth $849,000 after purchasing an additional 8,491 shares during the period. SeaCrest Wealth Management LLC lifted its holdings in Allegiant Travel by 3.3% during the fourth quarter. SeaCrest Wealth Management LLC now owns 6,210 shares of the transportation company’s stock valued at $584,000 after purchasing an additional 200 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Allegiant Travel by 53.5% in the 4th quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after buying an additional 236 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Allegiant Travel by 2.5% during the third quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock worth $34,584,000 after purchasing an additional 14,852 shares in the last quarter. Finally, Barclays PLC boosted its position in 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 acquiring an additional 18,421 shares during the last quarter. 85.81% of the stock is currently owned by hedge funds and other institutional investors.
Allegiant Travel Company Profile
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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