Allegiant Travel (NASDAQ:ALGT – Get 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
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
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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