Allegiant Travel (NASDAQ:ALGT) Receives Average Recommendation of “Hold” from Analysts

Shares of Allegiant Travel (NASDAQ:ALGT) have earned a consensus rating of “Hold” from the ten analysts that are presently covering the firm, MarketBeat reports. Nine research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $69.11.

Several equities analysts have recently weighed in on ALGT shares. Evercore ISI lifted their price objective on Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. Morgan Stanley boosted their price objective on Allegiant Travel from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. Wolfe Research lowered Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. TD Cowen upped their price target on Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, December 17th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $83.00 price objective on shares of Allegiant Travel in a research note on Friday, November 15th.

Allegiant Travel Trading Down 2.3 %

Shares of Allegiant Travel stock opened at $91.95 on Friday. The firm has a market cap of $1.69 billion, a PE ratio of -61.30, a P/E/G ratio of 7.17 and a beta of 1.67. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. Allegiant Travel has a fifty-two week low of $36.08 and a fifty-two week high of $96.93. The business’s fifty day moving average is $79.06 and its two-hundred day moving average is $59.16.

Insider Activity

In other Allegiant Travel news, COO Keny Frank Wilper sold 635 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total value of $39,808.15. Following the sale, the chief operating officer now directly owns 16,353 shares in the company, valued at approximately $1,025,169.57. This trade represents a 3.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sandra Douglass Morgan sold 350 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total transaction of $28,269.50. Following the transaction, the director now owns 11,650 shares of the company’s stock, valued at $940,970.50. This represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,304 shares of company stock valued at $2,459,900. Company insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in shares of Allegiant Travel by 7.7% during the second quarter. Bank of New York Mellon Corp now owns 215,533 shares of the transportation company’s stock worth $10,826,000 after buying an additional 15,469 shares during the period. Versor Investments LP grew its stake in shares of Allegiant Travel by 34.5% in the second quarter. Versor Investments LP now owns 5,794 shares of the transportation company’s stock worth $291,000 after purchasing an additional 1,486 shares in the last quarter. Privium Fund Management UK Ltd increased its holdings in shares of Allegiant Travel by 4.5% during the second quarter. Privium Fund Management UK Ltd now owns 10,191 shares of the transportation company’s stock valued at $504,000 after purchasing an additional 438 shares during the period. First Pacific Advisors LP raised its stake in shares of Allegiant Travel by 10.4% during the second quarter. First Pacific Advisors LP now owns 34,186 shares of the transportation company’s stock valued at $1,717,000 after purchasing an additional 3,224 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Allegiant Travel by 25.6% during the second quarter. Victory Capital Management Inc. now owns 16,614 shares of the transportation company’s stock valued at $835,000 after purchasing an additional 3,391 shares in the last quarter. 85.81% of the stock is owned by institutional investors and hedge funds.

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.