Allegiant Travel (NASDAQ:ALGT) Short Interest Update

Allegiant Travel (NASDAQ:ALGT) saw a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 1,350,000 shares, an increase of 29.8% from the February 13th total of 1,040,000 shares. Based on an average daily volume of 371,500 shares, the short-interest ratio is presently 3.6 days. Currently, 9.6% of the shares of the stock are sold short.

Allegiant Travel Stock Down 3.3 %

NASDAQ:ALGT opened at $52.42 on Wednesday. The stock’s fifty day moving average price is $84.65 and its two-hundred day moving average price is $73.76. Allegiant Travel has a 52-week low of $36.09 and a 52-week high of $107.57. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The company has a market cap of $961.28 million, a price-to-earnings ratio of -3.92 and a beta of 1.64.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $1.62. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. On average, analysts anticipate that Allegiant Travel will post 7.7 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Crews Bank & Trust acquired a new position in Allegiant Travel during the 4th quarter worth $25,000. Jones Financial Companies Lllp lifted its stake in shares of Allegiant Travel by 94.5% in the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 223 shares during the period. Sterling Capital Management LLC lifted its stake in shares of Allegiant Travel by 803.6% in the 4th quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 442 shares during the period. Signaturefd LLC lifted its stake in shares of Allegiant Travel by 30.3% in the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock valued at $56,000 after purchasing an additional 138 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Allegiant Travel by 53.5% in the 4th 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 period. Institutional investors and hedge funds own 85.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Bank of America upped their price objective on Allegiant Travel from $54.00 to $95.00 and gave the company an “underperform” rating in a research note on Friday, January 17th. UBS Group assumed coverage on Allegiant Travel in a research note on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 price objective on the stock. Raymond James upped their price objective on Allegiant Travel from $75.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, December 30th. TD Cowen upped their price objective on Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a research note on Tuesday, December 17th. Finally, Susquehanna upped their price objective on Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $80.10.

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.