Brokerages Set Allegiant Travel (NASDAQ:ALGT) Target Price at $68.00

Allegiant Travel (NASDAQ:ALGT) has received an average recommendation of “Hold” from the ten brokerages that are presently covering the firm, Marketbeat reports. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $69.11.

ALGT has been the topic of a number of recent research reports. TD Cowen increased their target price on Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, December 17th. Susquehanna increased their price objective on Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Wolfe Research cut shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. The Goldman Sachs Group restated a “neutral” rating and issued a $83.00 price target on shares of Allegiant Travel in a research note on Friday, November 15th. Finally, StockNews.com upgraded shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Saturday.

Allegiant Travel Stock Up 2.2 %

Allegiant Travel stock opened at $93.93 on Friday. The company’s 50-day moving average price is $79.70 and its two-hundred day moving average price is $59.48. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The stock has a market cap of $1.72 billion, a P/E ratio of -62.62, a P/E/G ratio of 7.17 and a beta of 1.67. Allegiant Travel has a twelve month low of $36.08 and a twelve month high of $96.93.

Insider Transactions at Allegiant Travel

In other Allegiant Travel news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of Allegiant Travel 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 in the company, valued at $181,397,275.80. The trade was a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Keny Frank Wilper sold 635 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total value of $39,808.15. Following the transaction, the chief operating officer now directly owns 16,353 shares of the company’s stock, valued at approximately $1,025,169.57. The trade was a 3.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,304 shares of company stock valued at $2,459,900. Company insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Signaturefd LLC lifted its stake in Allegiant Travel by 149.2% in the 3rd 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 last quarter. Nisa Investment Advisors LLC grew its stake 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 buying an additional 304 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Allegiant Travel by 53.5% during the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after buying an additional 236 shares in the last quarter. NBC Securities Inc. lifted its stake in shares of Allegiant Travel by 2,827.9% in the 3rd quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock valued at $69,000 after acquiring an additional 1,216 shares during the last quarter. Finally, Headlands Technologies LLC boosted its holdings in shares of Allegiant Travel by 170.6% during the 2nd quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock valued at $127,000 after acquiring an additional 1,590 shares in the last quarter. 85.81% of the stock is owned by 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.