Allegiant Travel (NASDAQ:ALGT) Earns Neutral Rating from Analysts at UBS Group

UBS Group assumed coverage on shares of Allegiant Travel (NASDAQ:ALGT) in a research report released on Tuesday, Marketbeat reports. The firm issued a neutral rating and a $16.00 price objective on the transportation company’s stock.

A number of other research analysts also recently weighed in on ALGT. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $83.00 target price on shares of Allegiant Travel in a research report on Friday, November 15th. TD Cowen lifted their target price on Allegiant Travel from $42.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Barclays boosted their price target on Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Susquehanna increased their price objective on Allegiant Travel from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, Wolfe Research downgraded shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Allegiant Travel has an average rating of “Hold” and a consensus target price of $65.44.

Allegiant Travel Trading Down 3.9 %

NASDAQ:ALGT opened at $80.74 on Tuesday. The company has a market cap of $1.48 billion, a P/E ratio of -53.83, a price-to-earnings-growth ratio of 6.54 and a beta of 1.61. Allegiant Travel has a twelve month low of $36.08 and a twelve month high of $86.94. The business has a 50 day moving average price of $62.12 and a two-hundred day moving average price of $52.73. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36.

Insider Buying and Selling at Allegiant Travel

In related news, COO Keny Frank Wilper sold 635 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total value of $39,808.15. Following the completion of the transaction, the chief operating officer now owns 16,353 shares of the company’s stock, valued at $1,025,169.57. The trade was a 3.74 % 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 link. Insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On Allegiant Travel

Several hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in Allegiant Travel in the third quarter valued at approximately $63,540,000. Clearbridge Investments LLC acquired a new stake in shares of Allegiant Travel in the 2nd quarter valued at $8,959,000. XTX Topco Ltd bought a new position in shares of Allegiant Travel in the 2nd quarter valued at $764,000. Assenagon Asset Management S.A. acquired a new position in shares of Allegiant Travel during the 2nd quarter worth $285,000. Finally, Vanguard Group Inc. lifted its position in shares of Allegiant Travel by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock worth $131,591,000 after buying an additional 38,612 shares during the last quarter. 85.81% of the stock is owned by institutional investors.

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.