Allegiant Travel (NASDAQ:ALGT) Short Interest Update

Allegiant Travel (NASDAQ:ALGT) was the target of a large decline in short interest in September. As of September 30th, there was short interest totalling 1,700,000 shares, a decline of 12.8% from the September 15th total of 1,950,000 shares. Based on an average trading volume of 428,700 shares, the short-interest ratio is currently 4.0 days. Approximately 11.1% of the company’s stock are sold short.

Analysts Set New Price Targets

ALGT has been the topic of several recent analyst reports. Susquehanna lifted their price target on Allegiant Travel from $40.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Evercore ISI increased their price target 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. Barclays dropped their price objective on shares of Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. TD Cowen increased their target price on shares of Allegiant Travel from $33.00 to $42.00 and gave the company a “hold” rating in a research note on Thursday, October 3rd. Finally, Morgan Stanley lowered their price target on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Monday, July 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Allegiant Travel has a consensus rating of “Hold” and an average price target of $63.13.

Insider Activity

In other news, Director Gary Ellmer sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the sale, the director now directly owns 7,490 shares of the company’s stock, valued at $337,050. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 1,699 shares of company stock worth $77,350 in the last ninety days. Corporate insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Innealta Capital LLC bought a new position in shares of Allegiant Travel in the 2nd quarter valued at about $34,000. CWM LLC grew its holdings in 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 during the period. Headlands Technologies LLC grew its holdings in Allegiant Travel by 170.6% during the second quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock worth $127,000 after purchasing an additional 1,590 shares during the period. SG Americas Securities LLC acquired a new position in Allegiant Travel during the first quarter worth approximately $141,000. Finally, ProShare Advisors LLC raised its stake in Allegiant Travel by 6.9% in the first quarter. ProShare Advisors LLC now owns 3,155 shares of the transportation company’s stock valued at $237,000 after buying an additional 203 shares during the period. Institutional investors and hedge funds own 85.81% of the company’s stock.

Allegiant Travel Trading Up 1.8 %

NASDAQ ALGT opened at $58.37 on Monday. Allegiant Travel has a one year low of $36.08 and a one year high of $85.91. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.74 and a quick ratio of 0.71. The firm has a market cap of $1.07 billion, a P/E ratio of -65.58, a P/E/G ratio of 3.11 and a beta of 1.65. The stock’s 50-day moving average is $44.93 and its 200-day moving average is $51.15.

Allegiant Travel (NASDAQ:ALGT) last announced its earnings results on Wednesday, July 31st. The transportation company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.93. The firm had revenue of $666.28 million during the quarter, compared to analyst estimates of $657.74 million. Allegiant Travel had a negative net margin of 0.57% and a positive return on equity of 3.48%. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $4.35 EPS. Sell-side analysts anticipate that Allegiant Travel will post 1.47 earnings per share for the current fiscal year.

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.