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

StockNews.com lowered shares of Allegiant Travel (NASDAQ:ALGT) from a hold rating to a sell rating in a research report released on Friday.

Several other brokerages also recently commented on ALGT. Wolfe Research downgraded shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. Morgan Stanley increased 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. 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 price objective for the company. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $83.00 price objective on shares of Allegiant Travel in a research report on Friday, November 15th. Finally, Evercore ISI upped their target price on shares of Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Allegiant Travel has an average rating of “Hold” and an average price target of $68.00.

Allegiant Travel Trading Down 0.3 %

Allegiant Travel stock opened at $91.11 on Friday. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $94.45. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. The business’s fifty day simple moving average is $76.68 and its two-hundred day simple moving average is $58.08. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -60.74, a price-to-earnings-growth ratio of 7.17 and a beta of 1.67.

Insider Transactions at Allegiant Travel

In related news, Director Sandra Douglass Morgan sold 350 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total transaction of $28,269.50. Following the completion of the transaction, the director now directly owns 11,650 shares of the company’s stock, valued at approximately $940,970.50. This represents a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Keny Frank Wilper sold 635 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now owns 16,353 shares of the company’s stock, valued at $1,025,169.57. This represents a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,600 shares of company stock worth $2,476,465 in the last 90 days. 15.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Signaturefd LLC boosted its stake in shares of Allegiant Travel by 149.2% during 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 period. Nisa Investment Advisors LLC increased its position in shares of Allegiant Travel by 136.9% during 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 during the period. Innealta Capital LLC bought a new stake in shares of Allegiant Travel during the second quarter valued at approximately $34,000. NBC Securities Inc. boosted its holdings in shares of 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 period. Finally, Headlands Technologies LLC boosted its holdings in shares of Allegiant Travel by 170.6% in the second quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock valued at $127,000 after purchasing an additional 1,590 shares during the period. 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.