Allegiant Travel (NASDAQ:ALGT) Coverage Initiated by Analysts at UBS Group

Analysts at UBS Group initiated coverage on shares of Allegiant Travel (NASDAQ:ALGT) in a report released on Tuesday. The brokerage set a “neutral” rating and a $16.00 price target on the transportation company’s stock. UBS Group’s target price would indicate a potential downside of 80.95% from the stock’s current price.

Other analysts have also issued research reports about the stock. TD Cowen lifted their price objective 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. Wolfe Research lowered Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. The Goldman Sachs Group restated a “neutral” rating and issued a $83.00 price objective on shares of Allegiant Travel in a research note on Friday, November 15th. Barclays increased their target price on shares of Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Finally, Susquehanna boosted their price target on shares of Allegiant Travel from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $65.44.

Allegiant Travel Price Performance

ALGT opened at $84.01 on Tuesday. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $86.94. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -56.01, a P/E/G ratio of 6.54 and a beta of 1.61. The firm’s fifty day moving average price is $62.12 and its two-hundred day moving average price is $52.73.

Insider Activity at Allegiant Travel

In related news, COO Keny Frank Wilper sold 635 shares of the stock in a transaction on 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 owns 16,353 shares of the company’s stock, valued at $1,025,169.57. This represents a 3.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 15.80% of the stock is currently owned by insiders.

Institutional Trading of Allegiant Travel

Institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC raised its holdings in Allegiant Travel by 149.2% during the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock valued at $25,000 after buying an additional 273 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings 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 purchasing an additional 304 shares during the period. Privium Fund Management UK Ltd grew its stake in shares of Allegiant Travel by 3.5% in the third quarter. Privium Fund Management UK Ltd now owns 10,549 shares of the transportation company’s stock worth $581,000 after purchasing an additional 358 shares during the last quarter. SeaCrest Wealth Management LLC grew its stake in shares of Allegiant Travel by 8.1% in the third quarter. SeaCrest Wealth Management LLC now owns 6,010 shares of the transportation company’s stock worth $331,000 after purchasing an additional 450 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in Allegiant Travel by 7.9% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 7,591 shares of the transportation company’s stock valued at $381,000 after purchasing an additional 553 shares during the period. 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.