Allegiant Travel (NASDAQ:ALGT) Price Target Raised to $60.00 at Susquehanna

Allegiant Travel (NASDAQ:ALGT) had its target price lifted by Susquehanna from $55.00 to $60.00 in a report issued on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the transportation company’s stock.

A number of other equities research analysts have also recently issued reports on ALGT. Barclays boosted their target price on shares of Allegiant Travel from $45.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday. Deutsche Bank Aktiengesellschaft cut Allegiant Travel from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $75.00 to $53.00 in a report on Monday, July 8th. Morgan Stanley decreased their price target on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a research report on Monday, July 8th. Evercore ISI raised their price objective on shares of Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a research report on Thursday, October 3rd. Finally, TD Cowen increased their price objective on Allegiant Travel from $42.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $65.38.

Allegiant Travel Trading Up 4.7 %

Shares of Allegiant Travel stock opened at $65.96 on Monday. The stock has a market capitalization of $1.21 billion, a P/E ratio of -43.97, a P/E/G ratio of 4.25 and a beta of 1.61. Allegiant Travel has a 52-week low of $36.08 and a 52-week high of $85.91. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.71 and a current ratio of 0.74. The stock’s 50-day simple moving average is $51.72 and its 200 day simple moving average is $50.82.

Insider Activity at Allegiant Travel

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

Hedge Funds Weigh In On Allegiant Travel

A number of institutional investors and hedge funds have recently made changes to their positions in ALGT. ProShare Advisors LLC lifted its holdings in Allegiant Travel by 6.9% in the 1st quarter. ProShare Advisors LLC now owns 3,155 shares of the transportation company’s stock worth $237,000 after purchasing an additional 203 shares in the last quarter. Signaturefd LLC lifted 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 acquiring an additional 273 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Allegiant Travel by 136.9% in the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock worth $29,000 after acquiring an additional 304 shares in the last quarter. Privium Fund Management UK Ltd raised its holdings in Allegiant Travel by 4.5% during the 2nd quarter. Privium Fund Management UK Ltd now owns 10,191 shares of the transportation company’s stock valued at $504,000 after buying an additional 438 shares during the period. Finally, SeaCrest Wealth Management LLC boosted its stake in Allegiant Travel by 8.1% during the third quarter. SeaCrest Wealth Management LLC now owns 6,010 shares of the transportation company’s stock worth $331,000 after buying an additional 450 shares during the period. Hedge funds and other institutional investors own 85.81% of the company’s stock.

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.