Allegiant Travel Company (NASDAQ:ALGT) Sees Large Increase in Short Interest

Allegiant Travel Company (NASDAQ:ALGT) was the recipient of a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 2,252,311 shares, a growth of 21.5% from the January 15th total of 1,854,477 shares. Currently, 14.4% of the company’s stock are sold short. Based on an average trading volume of 452,055 shares, the days-to-cover ratio is presently 5.0 days. Based on an average trading volume of 452,055 shares, the days-to-cover ratio is presently 5.0 days. Currently, 14.4% of the company’s stock are sold short.

Allegiant Travel Price Performance

Shares of Allegiant Travel stock opened at $114.04 on Wednesday. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.98 and a quick ratio of 0.95. The company has a market cap of $2.09 billion, a PE ratio of -44.37, a price-to-earnings-growth ratio of 0.26 and a beta of 1.64. The firm has a fifty day moving average price of $92.22 and a two-hundred day moving average price of $73.86. Allegiant Travel has a fifty-two week low of $39.80 and a fifty-two week high of $118.00.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Evercore upped their price target on Allegiant Travel from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Allegiant Travel in a report on Wednesday, January 21st. UBS Group boosted their price objective on shares of Allegiant Travel from $90.00 to $102.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Allegiant Travel from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a research note on Friday, December 12th. Finally, Citigroup lifted their target price on shares of Allegiant Travel from $109.00 to $114.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Allegiant Travel presently has a consensus rating of “Hold” and a consensus target price of $100.18.

Insider Buying and Selling

In related news, Chairman Maurice J. Gallagher, Jr. sold 861 shares of Allegiant Travel stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $114.00, for a total value of $98,154.00. Following the completion of the sale, the chairman owned 150,000 shares of the company’s stock, valued at approximately $17,100,000. The trade was a 0.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 300,000 shares of company stock valued at $34,350,512 over the last ninety days. Insiders own 14.70% of the company’s stock.

Institutional Trading of Allegiant Travel

A number of hedge funds have recently modified their holdings of the company. Hantz Financial Services Inc. grew its holdings in shares of Allegiant Travel by 442.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 542 shares of the transportation company’s stock worth $33,000 after purchasing an additional 442 shares in the last quarter. Signaturefd LLC boosted its stake in Allegiant Travel by 27.3% during the fourth quarter. Signaturefd LLC now owns 546 shares of the transportation company’s stock worth $47,000 after buying an additional 117 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Allegiant Travel by 28.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 930 shares of the transportation company’s stock worth $51,000 after buying an additional 205 shares in the last quarter. AlphaQuest LLC raised its stake in shares of Allegiant Travel by 119.2% in the 3rd quarter. AlphaQuest LLC now owns 1,120 shares of the transportation company’s stock valued at $68,000 after buying an additional 609 shares in the last quarter. Finally, iSAM Funds UK Ltd acquired a new position in shares of Allegiant Travel in the 3rd quarter valued at $69,000. Institutional investors own 85.81% of the company’s stock.

About Allegiant Travel

Allegiant Travel Company is a holding company that operates Allegiant Air, a low‐cost leisure airline offering scheduled and charter air service. The company focuses on connecting underserved secondary markets with popular vacation destinations across the United States. By targeting price‐sensitive leisure travelers, Allegiant Air operates a point‐to‐point network that avoids the traditional hub‐and‐spoke model, providing non‐stop flights from smaller cities to resort and entertainment hubs.

In addition to its core flight operations, Allegiant Travel Company offers packaged travel services that include hotel accommodations, rental cars and attraction tickets through its online portal.