Allegiant Travel (NASDAQ:ALGT) Director Gary Ellmer Sells 1,000 Shares

Allegiant Travel (NASDAQ:ALGT) Director Gary Ellmer sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the transaction, the director now owns 7,490 shares of the company’s stock, valued at $337,050. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Allegiant Travel Stock Performance

Allegiant Travel stock traded up $0.87 during midday trading on Thursday, reaching $42.59. The stock had a trading volume of 12,821 shares, compared to its average volume of 351,232. The firm has a market capitalization of $776.50 million, a PE ratio of 13.20, a P/E/G ratio of 2.06 and a beta of 1.66. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $90.25. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 1.35. The firm’s 50-day moving average price is $46.49 and its 200 day moving average price is $57.31.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Wednesday, July 31st. The transportation company reported $1.77 EPS for the quarter, topping the consensus estimate of $0.84 by $0.93. Allegiant Travel had a negative net margin of 0.57% and a positive return on equity of 3.48%. The company had revenue of $666.28 million during the quarter, compared to the consensus estimate of $657.74 million. During the same period last year, the firm earned $4.35 EPS. Allegiant Travel’s revenue for the quarter was down 2.6% on a year-over-year basis. As a group, research analysts predict that Allegiant Travel will post 3.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ALGT. ProShare Advisors LLC grew its position in Allegiant Travel by 6.9% during the first quarter. ProShare Advisors LLC now owns 3,155 shares of the transportation company’s stock worth $237,000 after buying an additional 203 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Allegiant Travel in the 4th quarter worth $28,000. 180 Wealth Advisors LLC raised its position in shares of Allegiant Travel by 5.7% during the 1st quarter. 180 Wealth Advisors LLC now owns 7,291 shares of the transportation company’s stock valued at $548,000 after buying an additional 392 shares in the last quarter. Privium Fund Management UK Ltd grew its position in Allegiant Travel by 4.5% in the second quarter. Privium Fund Management UK Ltd now owns 10,191 shares of the transportation company’s stock worth $504,000 after acquiring an additional 438 shares in the last quarter. Finally, SeaCrest Wealth Management LLC increased its stake in Allegiant Travel by 10.6% in the second quarter. SeaCrest Wealth Management LLC now owns 5,560 shares of the transportation company’s stock valued at $279,000 after acquiring an additional 535 shares during the last quarter. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALGT has been the subject of a number of analyst reports. Susquehanna decreased their price target on Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft downgraded Allegiant Travel from a “buy” rating to a “hold” rating and reduced their target price for the stock from $75.00 to $53.00 in a research note on Monday, July 8th. Barclays decreased their price target on shares of Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Evercore ISI lowered their price objective on Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating on the stock in a research note on Monday, July 15th. Finally, TD Cowen lowered their price target on shares of Allegiant Travel from $39.00 to $33.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Allegiant Travel currently has a consensus rating of “Hold” and an average price target of $59.50.

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.