Allegiant Travel (NASDAQ:ALGT) Rating Lowered to Sell at StockNews.com

Allegiant Travel (NASDAQ:ALGT) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

Other equities research analysts have also issued reports about the company. Barclays upped their price target on Allegiant Travel from $50.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Morgan Stanley upped their target price on Allegiant Travel from $80.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. Wolfe Research lowered Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Evercore ISI upped their price objective 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. Finally, UBS Group initiated coverage on shares of Allegiant Travel in a report on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, Allegiant Travel has an average rating of “Hold” and an average price target of $68.00.

Allegiant Travel Price Performance

NASDAQ ALGT traded down $0.30 during trading hours on Friday, hitting $91.11. 226,431 shares of the company’s stock traded hands, compared to its average volume of 366,945. The company has a market capitalization of $1.67 billion, a PE ratio of -60.74, a PEG ratio of 7.17 and a beta of 1.67. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. Allegiant Travel has a 52-week low of $36.08 and a 52-week high of $94.45. The firm’s 50-day moving average is $76.68 and its 200-day moving average is $58.04.

Insider Buying and Selling

In related news, Director Sandra Douglass Morgan sold 350 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total transaction of $28,269.50. Following the transaction, the director now owns 11,650 shares of the company’s stock, valued at approximately $940,970.50. This represents a 2.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $84.46, for a total value of $2,391,822.74. Following the transaction, the chairman now owns 2,147,730 shares of the company’s stock, valued at $181,397,275.80. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,600 shares of company stock valued at $2,476,465. Company insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

Several large investors have recently added to or reduced their stakes in ALGT. Donald Smith & CO. Inc. grew its stake 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 in the last quarter. U S Global Investors Inc. grew its stake in Allegiant Travel by 51.9% during the 3rd quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock worth $40,823,000 after purchasing an additional 253,198 shares in the last quarter. Clearbridge Investments LLC purchased a new stake in Allegiant Travel during the 2nd quarter worth about $8,959,000. Millennium Management LLC raised its position in Allegiant Travel by 779.8% in the 2nd quarter. Millennium Management LLC now owns 169,459 shares of the transportation company’s stock valued at $8,512,000 after purchasing an additional 150,197 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Allegiant Travel in the 3rd quarter valued at about $63,540,000. 85.81% of the stock is owned by hedge funds and other 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.