Allegiant Travel (NASDAQ:ALGT) Director Sandra Douglass Morgan Sells 350 Shares

Allegiant Travel (NASDAQ:ALGT) Director Sandra Douglass Morgan sold 350 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total value 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. The trade was a 2.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Allegiant Travel Stock Performance

Shares of NASDAQ ALGT opened at $81.02 on Thursday. The stock’s fifty day simple moving average is $62.89 and its 200 day simple moving average is $52.92. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of -54.01, a PEG ratio of 6.95 and a beta of 1.61. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. Allegiant Travel has a 52-week low of $36.08 and a 52-week high of $86.94.

Hedge Funds Weigh In On Allegiant Travel

A number of institutional investors have recently bought and sold shares of ALGT. Signaturefd LLC boosted its holdings in shares of Allegiant Travel by 149.2% in the third 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 lifted its position in shares of Allegiant Travel by 136.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 304 shares in the last quarter. Innealta Capital LLC acquired a new position in Allegiant Travel in the 2nd quarter worth approximately $34,000. CWM LLC boosted its stake in Allegiant Travel by 275.1% in the 2nd quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock worth $64,000 after purchasing an additional 930 shares during the period. Finally, NBC Securities Inc. grew its position 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 worth $69,000 after purchasing an additional 1,216 shares in the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Wall Street Analyst Weigh In

ALGT has been the subject of several research analyst reports. TD Cowen upped their price objective on shares of Allegiant Travel from $42.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Barclays upped their price target on shares of Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Wolfe Research lowered shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. UBS Group began coverage on Allegiant Travel in a research report on Tuesday. They issued a “neutral” rating and a $16.00 target price for the company. Finally, Evercore ISI increased their price target on Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $65.44.

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.