Maurice J. Gallagher, Jr. Sells 28,319 Shares of Allegiant Travel (NASDAQ:ALGT) Stock

Allegiant Travel (NASDAQ:ALGT) Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of Allegiant Travel stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $84.46, for a total value of $2,391,822.74. Following the transaction, the chairman now directly owns 2,147,730 shares in the company, valued at approximately $181,397,275.80. The trade was a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Allegiant Travel Price Performance

Shares of ALGT opened at $81.02 on Friday. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -54.01, a P/E/G ratio of 6.95 and a beta of 1.61. Allegiant Travel has a fifty-two week low of $36.08 and a fifty-two week high of $86.94. 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 business’s 50-day moving average is $63.65 and its 200-day moving average is $53.12.

Analysts Set New Price Targets

ALGT has been the topic of a number of research analyst reports. Wolfe Research lowered Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Barclays lifted their target price on Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Susquehanna lifted their price target on Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. UBS Group started coverage on Allegiant Travel in a research note on Tuesday. They issued a “neutral” rating and a $16.00 price target on the stock. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $83.00 price target on shares of Allegiant Travel in a research note on Friday, November 15th. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $65.44.

Hedge Funds Weigh In On Allegiant Travel

A number of large investors have recently made changes to their positions in the business. Signaturefd LLC increased its holdings in shares of Allegiant Travel by 149.2% in the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 273 shares during the period. Nisa Investment Advisors LLC grew 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 valued at $29,000 after buying an additional 304 shares in the last quarter. Privium Fund Management UK Ltd grew its stake in shares of 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 valued at $581,000 after buying an additional 358 shares in the last quarter. SeaCrest Wealth Management LLC grew its stake in shares of Allegiant Travel by 8.1% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 6,010 shares of the transportation company’s stock valued at $331,000 after buying an additional 450 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Allegiant Travel by 7.9% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 7,591 shares of the transportation company’s stock valued at $381,000 after buying an additional 553 shares in the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

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.