Allegiant Travel (NASDAQ:ALGT) Hits New 12-Month High After Analyst Upgrade

Allegiant Travel (NASDAQ:ALGT)’s stock price hit a new 52-week high during mid-day trading on Wednesday after Barclays raised their price target on the stock from $85.00 to $100.00. Barclays currently has an equal weight rating on the stock. Allegiant Travel traded as high as $103.50 and last traded at $103.30, with a volume of 15178 shares traded. The stock had previously closed at $100.97.

A number of other equities research analysts have also recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of Allegiant Travel from $83.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday. Evercore ISI upped their price target on shares of Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Susquehanna upped their price target on shares of Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. StockNews.com upgraded shares of Allegiant Travel from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Morgan Stanley upped their price target on shares of Allegiant Travel from $80.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Allegiant Travel presently has a consensus rating of “Hold” and a consensus price target of $77.89.

Insider Buying and Selling

In related news, Director Sandra Douglass Morgan sold 350 shares of the business’s stock in a transaction that occurred on 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 owns 11,650 shares in the company, valued at $940,970.50. The trade was a 2.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of Allegiant Travel stock in a transaction on Monday, November 25th. The stock was sold at an average price of $84.46, for a total transaction of $2,391,822.74. Following the sale, the chairman now directly owns 2,147,730 shares of the company’s stock, valued at $181,397,275.80. This represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,304 shares of company stock worth $2,459,900 in the last quarter. Insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALGT. Signaturefd LLC increased its holdings in Allegiant Travel by 149.2% in the third 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 last quarter. Nisa Investment Advisors LLC increased its holdings in Allegiant Travel by 136.9% in the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 304 shares during the last quarter. GAMMA Investing LLC increased its holdings in Allegiant Travel by 53.5% in the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 236 shares during the last quarter. NBC Securities Inc. increased its holdings in Allegiant Travel by 2,827.9% in the third quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock valued at $69,000 after purchasing an additional 1,216 shares during the last quarter. Finally, Stifel Financial Corp bought a new stake in Allegiant Travel in the third quarter valued at about $210,000. Institutional investors own 85.81% of the company’s stock.

Allegiant Travel Stock Up 0.2 %

The business has a fifty day moving average of $85.21 and a 200 day moving average of $62.17. The firm has a market cap of $1.88 billion, a P/E ratio of -68.23, a P/E/G ratio of 1.33 and a beta of 1.62. 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 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.