Allegiant Travel (NASDAQ:ALGT) Downgraded to Hold Rating by Wolfe Research

Allegiant Travel (NASDAQ:ALGT) was downgraded by Wolfe Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday, Zacks.com reports.

Several other research firms have also recently weighed in on ALGT. TD Cowen boosted their price target on Allegiant Travel from $42.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft cut shares of Allegiant Travel from a “buy” rating to a “hold” rating and decreased their price target for the company from $75.00 to $53.00 in a research report on Monday, July 8th. Barclays lifted their price target on shares of Allegiant Travel from $45.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday. Susquehanna increased their price objective on Allegiant Travel from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Monday. Finally, Evercore ISI lifted their target price on Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $65.38.

Allegiant Travel Stock Performance

Allegiant Travel stock opened at $66.25 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 1.30. The stock has a market cap of $1.21 billion, a PE ratio of -44.17, a P/E/G ratio of 4.61 and a beta of 1.61. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $85.91. The business’s 50-day moving average price is $52.19 and its two-hundred day moving average price is $50.85.

Insider Activity at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $45.00, for a total transaction of $45,000.00. Following the transaction, the director now owns 7,490 shares in the company, valued at approximately $337,050. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Gary Ellmer sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the sale, the director now owns 7,490 shares in the company, valued at approximately $337,050. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $39,808.15. Following the sale, the chief operating officer now owns 16,353 shares of the company’s stock, valued at approximately $1,025,169.57. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,334 shares of company stock valued at $117,158 over the last ninety days. Insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

Several hedge funds and other institutional investors have recently made changes to their positions in the business. ProShare Advisors LLC grew its position in Allegiant Travel by 6.9% during the first quarter. ProShare Advisors LLC now owns 3,155 shares of the transportation company’s stock valued at $237,000 after buying an additional 203 shares during the period. Signaturefd LLC boosted its stake 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 acquiring an additional 273 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Allegiant Travel by 136.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock worth $29,000 after purchasing an additional 304 shares in the last quarter. Privium Fund Management UK Ltd raised its holdings in Allegiant Travel by 3.5% in the 3rd quarter. Privium Fund Management UK Ltd now owns 10,549 shares of the transportation company’s stock worth $581,000 after purchasing an additional 358 shares during the period. Finally, SeaCrest Wealth Management LLC raised its holdings in Allegiant Travel by 8.1% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 6,010 shares of the transportation company’s stock worth $331,000 after purchasing an additional 450 shares during the period. Hedge funds and other institutional investors own 85.81% of the company’s stock.

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.