Maurice J. Gallagher, Jr. Sells 28,319 Shares of Allegiant Travel (NASDAQ:ALGT) Stock

Allegiant Travel (NASDAQ:ALGT) Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of Allegiant Travel stock in a transaction on Monday, November 25th. The shares were sold at an average price of $84.46, for a total value of $2,391,822.74. Following the completion of the transaction, the chairman now owns 2,147,730 shares in the company, valued at approximately $181,397,275.80. The trade was a 1.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Allegiant Travel Stock Up 0.3 %

ALGT stock traded up $0.28 during trading on Wednesday, reaching $81.02. 251,280 shares of the stock were exchanged, compared to its average volume of 372,434. The firm’s 50 day moving average is $62.89 and its 200 day moving average is $52.92. Allegiant Travel has a twelve month low of $36.08 and a twelve month high of $86.94. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. The firm has a market cap of $1.49 billion, a P/E ratio of -54.24, a price-to-earnings-growth ratio of 6.95 and a beta of 1.61.

Institutional Trading of Allegiant Travel

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALGT. Donald Smith & CO. Inc. grew its holdings in shares of Allegiant Travel by 166.7% in the second quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company’s stock valued at $41,506,000 after acquiring an additional 516,545 shares in the last quarter. U S Global Investors Inc. lifted its stake in Allegiant Travel by 51.9% in the third quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock valued at $40,823,000 after purchasing an additional 253,198 shares during the last quarter. Clearbridge Investments LLC purchased a new position in Allegiant Travel in the second quarter valued at approximately $8,959,000. Millennium Management LLC lifted its stake in Allegiant Travel by 779.8% in the second quarter. Millennium Management LLC now owns 169,459 shares of the transportation company’s stock valued at $8,512,000 after purchasing an additional 150,197 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Allegiant Travel in the third quarter valued at approximately $63,540,000. 85.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ALGT has been the topic of several recent analyst reports. Susquehanna lifted 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, November 4th. UBS Group initiated coverage on Allegiant Travel in a research note on Tuesday. They issued a “neutral” rating and a $16.00 price target on the stock. Wolfe Research lowered Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. Evercore ISI boosted their price objective on Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. Finally, Barclays boosted their price objective on Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Allegiant Travel currently has a consensus rating of “Hold” and a consensus price target of $65.44.

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.