Allegiant Travel (NASDAQ:ALGT) Downgraded to Hold Rating by Wolfe Research

Allegiant Travel (NASDAQ:ALGT) was downgraded by investment analysts at Wolfe Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks.com reports.

Several other research firms have also commented on ALGT. Barclays increased their price target on shares of Allegiant Travel from $45.00 to $50.00 and gave the company an “equal weight” rating in a research report on Monday. TD Cowen upped their price target on Allegiant Travel from $42.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Morgan Stanley decreased their price objective on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. Deutsche Bank Aktiengesellschaft lowered Allegiant Travel from a “buy” rating to a “hold” rating and reduced their target price for the company from $75.00 to $53.00 in a research report on Monday, July 8th. Finally, Evercore ISI raised their price target on Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Allegiant Travel has a consensus rating of “Hold” and a consensus price target of $65.38.

Allegiant Travel Trading Up 0.4 %

ALGT opened at $66.25 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.30. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -44.17, a PEG ratio of 4.61 and a beta of 1.61. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $85.91. The stock has a fifty day moving average price of $52.19 and a 200-day moving average price of $50.85.

Insiders Place Their Bets

In other news, COO Keny Frank Wilper sold 635 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were 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 of the company’s stock, valued at $1,025,169.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Gary Ellmer sold 1,000 shares of Allegiant Travel stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the transaction, the director now directly owns 7,490 shares in the company, valued at approximately $337,050. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Keny Frank Wilper sold 635 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 16,353 shares in the company, valued at approximately $1,025,169.57. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,334 shares of company stock valued at $117,158. 15.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Allegiant Travel

Several large investors have recently made changes to their positions in ALGT. Donald Smith & CO. Inc. raised its position in shares of Allegiant Travel by 166.7% in the second quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company’s stock worth $41,506,000 after acquiring an additional 516,545 shares during the period. U S Global Investors Inc. lifted its stake in Allegiant Travel by 51.9% in the 3rd quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock valued at $40,823,000 after buying an additional 253,198 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in Allegiant Travel in the 2nd quarter worth about $8,959,000. Millennium Management LLC increased its stake in Allegiant Travel by 779.8% during the 2nd quarter. Millennium Management LLC now owns 169,459 shares of the transportation company’s stock worth $8,512,000 after buying an additional 150,197 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Allegiant Travel during the third quarter valued at approximately $63,540,000. 85.81% of the stock is currently 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.