Allegiant Travel (NASDAQ:ALGT) Trading Down 6.7% – Here’s What Happened

Allegiant Travel (NASDAQ:ALGT)’s share price was down 6.7% during trading on Monday . The stock traded as low as $42.32 and last traded at $41.21. Approximately 33,356 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 420,210 shares. The stock had previously closed at $44.16.

Analysts Set New Price Targets

A number of research analysts have commented on ALGT shares. Bank of America decreased their price objective on Allegiant Travel from $95.00 to $50.00 and set an “underperform” rating on the stock in a report on Thursday, April 3rd. Raymond James upgraded shares of Allegiant Travel from an “outperform” rating to a “strong-buy” rating and dropped their price objective for the stock from $125.00 to $90.00 in a research note on Wednesday, April 2nd. Barclays lowered their target price on shares of Allegiant Travel from $100.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Susquehanna reduced their price target on Allegiant Travel from $95.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Finally, Morgan Stanley increased their target price on Allegiant Travel from $90.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $67.00.

Allegiant Travel Stock Down 6.6 %

The firm’s fifty day moving average is $59.93 and its 200-day moving average is $74.26. The company has a market capitalization of $756.44 million, a P/E ratio of -3.09 and a beta of 1.57. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $1.62. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. As a group, equities research analysts predict that Allegiant Travel will post 7.7 EPS for the current year.

Institutional Trading of Allegiant Travel

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Crews Bank & Trust bought a new stake in Allegiant Travel during the 4th quarter worth approximately $25,000. Farther Finance Advisors LLC grew its stake in shares of Allegiant Travel by 489.1% in the first quarter. Farther Finance Advisors LLC now owns 542 shares of the transportation company’s stock worth $28,000 after purchasing an additional 450 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Allegiant Travel by 94.5% in the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 223 shares during the period. Sterling Capital Management LLC raised its position in Allegiant Travel by 803.6% during the 4th quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company’s stock worth $47,000 after purchasing an additional 442 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in Allegiant Travel by 30.3% during the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock worth $56,000 after buying an additional 138 shares during the period. 85.81% of the stock is currently 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.