Allegiant Travel (NASDAQ:ALGT) Earns Neutral Rating from Analysts at UBS Group

UBS Group began coverage on shares of Allegiant Travel (NASDAQ:ALGT) in a research report sent to investors on Tuesday, Marketbeat.com reports. The brokerage issued a neutral rating and a $16.00 price objective on the transportation company’s stock.

A number of other equities analysts have also commented on ALGT. Wolfe Research lowered shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. TD Cowen lifted their target price on Allegiant Travel from $42.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, November 1st. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $83.00 price target on shares of Allegiant Travel in a research report on Friday, November 15th. Barclays boosted their target price on shares of Allegiant Travel from $50.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Finally, Susquehanna increased their target price on Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $65.44.

Allegiant Travel Trading Up 1.0 %

NASDAQ ALGT opened at $81.84 on Tuesday. The stock has a 50 day moving average of $64.41 and a 200-day moving average of $53.31. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $86.94. The company has a market cap of $1.50 billion, a PE ratio of -55.22, a PEG ratio of 6.70 and a beta of 1.61. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the stock in a transaction dated Monday, November 25th. The stock was 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 approximately $181,397,275.80. This represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sandra Douglass Morgan sold 350 shares of Allegiant Travel stock in a transaction 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 transaction, the director now owns 11,650 shares in the company, valued at $940,970.50. This represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,600 shares of company stock valued at $2,476,465 in the last 90 days. Insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Signaturefd LLC boosted its holdings in Allegiant Travel by 149.2% in the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after buying an additional 273 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of 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 during the period. Innealta Capital LLC bought a new position in shares of Allegiant Travel in the second quarter worth about $34,000. CWM LLC grew its position in shares of Allegiant Travel by 275.1% during the second quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock worth $64,000 after purchasing an additional 930 shares in the last quarter. Finally, NBC Securities Inc. raised its stake in Allegiant Travel by 2,827.9% during the 3rd 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. Institutional investors own 85.81% of the company’s stock.

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.