Allegiant Travel (NASDAQ:ALGT) Rating Lowered to “Hold” at Wolfe Research

Allegiant Travel (NASDAQ:ALGT) was downgraded by equities researchers at Wolfe Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks.com reports.

A number of other analysts have also commented on ALGT. Barclays boosted their price objective on shares of Allegiant Travel from $45.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday. TD Cowen boosted their price target on shares of Allegiant Travel from $42.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Evercore ISI raised their price objective on Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft lowered Allegiant Travel from a “buy” rating to a “hold” rating and dropped their target price for the stock from $75.00 to $53.00 in a report on Monday, July 8th. Finally, Susquehanna raised their price target on Allegiant Travel from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $65.38.

Allegiant Travel Trading Up 0.4 %

NASDAQ ALGT opened at $66.25 on Monday. Allegiant Travel has a 52 week low of $36.08 and a 52 week high of $85.91. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.71 and a current ratio of 0.74. The stock’s 50 day moving average price is $52.19 and its two-hundred day moving average price is $50.85. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -44.17, a PEG ratio of 4.61 and a beta of 1.61.

Insider Transactions at Allegiant Travel

In related news, Director Gary Ellmer sold 1,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the sale, the director now owns 7,490 shares in the company, valued at approximately $337,050. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the transaction, the director now directly owns 7,490 shares of the company’s stock, valued at $337,050. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Keny Frank Wilper sold 635 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total transaction of $39,808.15. Following the sale, the chief operating officer now owns 16,353 shares of the company’s stock, valued at $1,025,169.57. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,334 shares of company stock worth $117,158. 15.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Allegiant Travel

A number of institutional investors have recently modified their holdings of the business. Signaturefd LLC raised its stake in Allegiant Travel by 149.2% in the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after purchasing an additional 273 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Allegiant Travel by 136.9% in the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock valued at $29,000 after buying an additional 304 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of Allegiant Travel in the second quarter valued at approximately $34,000. NBC Securities Inc. boosted its stake in shares of Allegiant Travel by 2,827.9% in the third quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock valued at $69,000 after buying an additional 1,216 shares during the period. Finally, CWM LLC lifted its position in shares of Allegiant Travel by 275.1% during the 2nd quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock valued at $64,000 after acquiring an additional 930 shares during the period. Institutional investors own 85.81% of the company’s stock.

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.