Allegiant Travel (NASDAQ:ALGT) Cut to Sell at StockNews.com

StockNews.com cut shares of Allegiant Travel (NASDAQ:ALGT) from a hold rating to a sell rating in a report issued on Friday morning.

Several other research firms also recently weighed in on ALGT. Wolfe Research downgraded shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. TD Cowen boosted their target price on Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday, December 17th. Evercore ISI increased their price target on Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. The Goldman Sachs Group restated a “neutral” rating and set a $83.00 price objective on shares of Allegiant Travel in a report on Friday, November 15th. Finally, Susquehanna increased their target price on Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $68.00.

Allegiant Travel Stock Performance

Shares of ALGT opened at $91.11 on Friday. The firm’s fifty day simple moving average is $76.68 and its two-hundred day simple moving average is $58.08. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $94.45. 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 has a market capitalization of $1.67 billion, a P/E ratio of -60.74, a price-to-earnings-growth ratio of 7.17 and a beta of 1.67.

Insider Buying and Selling at Allegiant Travel

In related news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Keny Frank Wilper sold 635 shares of Allegiant Travel stock in a transaction on Wednesday, October 23rd. The shares were 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 approximately $1,025,169.57. This trade represents a 3.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,600 shares of company stock valued at $2,476,465 in the last quarter. Company insiders own 15.80% of the company’s stock.

Institutional Trading of Allegiant Travel

Several large investors have recently bought and sold shares of ALGT. Donald Smith & CO. Inc. boosted its position in shares of Allegiant Travel by 166.7% during the second quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company’s stock valued at $41,506,000 after purchasing an additional 516,545 shares in the last quarter. U S Global Investors Inc. lifted its position in Allegiant Travel by 51.9% during the third quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock valued at $40,823,000 after buying an additional 253,198 shares during the period. Clearbridge Investments LLC bought a new stake in shares of Allegiant Travel during the 2nd quarter valued at $8,959,000. Millennium Management LLC grew its position in shares of Allegiant Travel by 779.8% in the 2nd quarter. Millennium Management LLC now owns 169,459 shares of the transportation company’s stock worth $8,512,000 after buying an additional 150,197 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in Allegiant Travel during the 3rd quarter valued at about $63,540,000. 85.81% of the stock is owned by 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.