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

Allegiant Travel (NASDAQ:ALGTGet Free Report) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

A number of other brokerages have also recently issued reports on ALGT. Wolfe Research cut shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Evercore ISI increased their price target on shares of Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. Barclays lifted their price objective on Allegiant Travel from $50.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. 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. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $83.00 price target on shares of Allegiant Travel in a research note on Friday, November 15th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Allegiant Travel has a consensus rating of “Hold” and an average price target of $68.00.

View Our Latest Analysis on Allegiant Travel

Allegiant Travel Stock Performance

Shares of ALGT traded up $1.27 on Thursday, reaching $82.12. 184,009 shares of the stock traded hands, compared to its average volume of 368,819. The stock’s 50-day moving average price is $73.31 and its 200-day moving average price is $56.55. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -54.75, a P/E/G ratio of 7.17 and a beta of 1.67. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $94.45.

Insider Activity at Allegiant Travel

In other Allegiant Travel news, Director Sandra Douglass Morgan sold 350 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total value of $28,269.50. Following the completion of the transaction, the director now directly owns 11,650 shares of the company’s stock, valued at approximately $940,970.50. The trade was a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Keny Frank Wilper sold 635 shares of the stock in a transaction that occurred 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 directly owns 16,353 shares in the company, valued at $1,025,169.57. This trade represents a 3.74 % decrease in their ownership of the stock. 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 three months. Corporate insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

Hedge funds and other institutional investors have recently made changes to their positions in the company. Donald Smith & CO. Inc. grew its position in shares of Allegiant Travel by 20.2% during the 3rd quarter. Donald Smith & CO. Inc. now owns 993,474 shares of the transportation company’s stock worth $54,701,000 after buying an additional 167,148 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in Allegiant Travel by 1.9% in the second quarter. Diamond Hill Capital Management Inc. now owns 945,839 shares of the transportation company’s stock valued at $47,509,000 after acquiring an additional 17,792 shares during the last quarter. U S Global Investors Inc. grew its holdings in Allegiant Travel by 51.9% during the 3rd quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock worth $40,823,000 after acquiring an additional 253,198 shares during the period. State Street Corp raised its position in shares of Allegiant Travel by 1.7% during the 3rd quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock valued at $33,530,000 after acquiring an additional 10,050 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Allegiant Travel by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock valued at $34,584,000 after purchasing an additional 14,852 shares during the period. 85.81% of the stock is owned by institutional investors and hedge funds.

About Allegiant Travel

(Get Free Report)

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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