Allegiant Travel (NASDAQ:ALGT) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Allegiant Travel Company (NASDAQ:ALGT) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $81.76 and traded as high as $89.82. Allegiant Travel shares last traded at $84.24, with a volume of 640,240 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Bank of America raised Allegiant Travel from an “underperform” rating to a “neutral” rating and upped their target price for the company from $55.00 to $95.00 in a report on Tuesday, January 6th. Raymond James Financial downgraded Allegiant Travel from a “strong-buy” rating to an “outperform” rating and upped their target price for the company from $78.00 to $98.00 in a report on Friday, December 19th. Wall Street Zen raised Allegiant Travel from a “sell” rating to a “hold” rating in a report on Sunday, December 28th. Morgan Stanley upped their target price on Allegiant Travel from $85.00 to $100.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. Finally, Citigroup reduced their target price on Allegiant Travel from $114.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 20th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Allegiant Travel has an average rating of “Hold” and a consensus target price of $97.91.

Allegiant Travel Price Performance

The stock has a 50 day moving average price of $90.85 and a two-hundred day moving average price of $81.96. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.92 and a current ratio of 0.95. The company has a market capitalization of $1.69 billion, a PE ratio of -35.72, a P/E/G ratio of 0.44 and a beta of 1.63.

Insider Buying and Selling at Allegiant Travel

In other news, Chairman Maurice J. Gallagher, Jr. sold 861 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $114.00, for a total transaction of $98,154.00. Following the completion of the sale, the chairman directly owned 150,000 shares of the company’s stock, valued at $17,100,000. This trade represents a 0.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 300,000 shares of company stock worth $34,350,512. 14.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Allegiant Travel

A number of hedge funds and other institutional investors have recently made changes to their positions in ALGT. Hantz Financial Services Inc. raised its stake 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 increased its holdings in shares of Allegiant Travel by 27.3% during the 4th quarter. Signaturefd LLC now owns 546 shares of the transportation company’s stock valued at $47,000 after acquiring an additional 117 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of Allegiant Travel by 43.7% during the 2nd quarter. NewEdge Advisors LLC now owns 1,227 shares of the transportation company’s stock valued at $67,000 after acquiring an additional 373 shares during the last quarter. AlphaQuest LLC increased its holdings in shares of Allegiant Travel by 119.2% during the 3rd quarter. AlphaQuest LLC now owns 1,120 shares of the transportation company’s stock valued at $68,000 after acquiring an additional 609 shares during the last quarter. Finally, iSAM Funds UK Ltd acquired a new position in shares of Allegiant Travel during the 3rd quarter valued at about $69,000. 85.81% of the stock is owned by hedge funds and other institutional investors.

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.