Sandra Douglass Morgan Sells 350 Shares of Allegiant Travel (NASDAQ:ALGT) Stock

Allegiant Travel Company (NASDAQ:ALGT) Director Sandra Douglass Morgan sold 350 shares of the business’s stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $65.00, for a total value of $22,750.00. Following the completion of the transaction, the director owned 10,950 shares of the company’s stock, valued at $711,750. This represents a 3.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Allegiant Travel Stock Up 1.8%

ALGT stock opened at $62.18 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.10 and a quick ratio of 1.07. Allegiant Travel Company has a 1-year low of $39.80 and a 1-year high of $107.57. The stock has a market capitalization of $1.14 billion, a P/E ratio of -3.90, a P/E/G ratio of 0.49 and a beta of 1.71. The business has a fifty day moving average price of $62.85 and a 200-day moving average price of $56.36.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings data on Thursday, May 12th. The transportation company reported $1.18 EPS for the quarter. Allegiant Travel had a positive return on equity of 5.00% and a negative net margin of 11.10%.The company had revenue of $496.88 million during the quarter. Equities analysts forecast that Allegiant Travel Company will post 7.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on ALGT shares. UBS Group lifted their price objective on Allegiant Travel from $52.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, September 26th. Susquehanna boosted their price target on Allegiant Travel from $50.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. Zacks Research raised Allegiant Travel from a “strong sell” rating to a “hold” rating in a report on Thursday, September 4th. Morgan Stanley cut their price target on Allegiant Travel from $85.00 to $83.00 and set an “equal weight” rating for the company in a report on Monday, July 7th. Finally, Barclays boosted their price target on Allegiant Travel from $52.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $70.56.

Hedge Funds Weigh In On Allegiant Travel

Several large investors have recently made changes to their positions in the business. Emerald Mutual Fund Advisers Trust lifted its position in shares of Allegiant Travel by 34.8% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 260,935 shares of the transportation company’s stock valued at $15,857,000 after acquiring an additional 67,311 shares in the last quarter. Emerald Advisers LLC lifted its position in shares of Allegiant Travel by 23.7% in the third quarter. Emerald Advisers LLC now owns 427,718 shares of the transportation company’s stock worth $25,992,000 after buying an additional 81,987 shares in the last quarter. Silver Oak Securities Incorporated purchased a new stake in shares of Allegiant Travel in the third quarter worth about $633,000. Inspire Investing LLC lifted its position in shares of Allegiant Travel by 5.0% in the third quarter. Inspire Investing LLC now owns 7,451 shares of the transportation company’s stock worth $453,000 after buying an additional 357 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Allegiant Travel by 4.9% in the third quarter. Harbor Capital Advisors Inc. now owns 3,759 shares of the transportation company’s stock worth $228,000 after buying an additional 176 shares in the last quarter. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

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.