Allegiant Travel (NASDAQ:ALGT) Sees Large Decline in Short Interest

Allegiant Travel (NASDAQ:ALGT) was the target of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totalling 987,300 shares, a decrease of 9.4% from the December 31st total of 1,090,000 shares. Based on an average daily trading volume, of 380,100 shares, the short-interest ratio is presently 2.6 days. Approximately 6.9% of the shares of the company are sold short.

Insider Activity

In other Allegiant Travel news, Director Sandra Douglass Morgan sold 350 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total value of $28,269.50. Following the transaction, the director now directly owns 11,650 shares of the company’s stock, valued at approximately $940,970.50. The trade was a 2.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $84.46, for a total transaction of $2,391,822.74. Following the completion of the sale, the chairman now owns 2,147,730 shares of the company’s stock, valued at $181,397,275.80. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.80% of the company’s stock.

Institutional Trading of Allegiant Travel

Institutional investors and hedge funds have recently made changes to their positions in the stock. Crews Bank & Trust purchased a new stake in Allegiant Travel during the 4th quarter worth about $25,000. Signaturefd LLC grew its holdings in shares of Allegiant Travel by 149.2% during the third quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after buying an additional 273 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake 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 valued at $29,000 after buying an additional 304 shares during the period. GAMMA Investing LLC boosted its position in Allegiant Travel by 53.5% during the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after acquiring an additional 236 shares during the last quarter. Finally, NBC Securities Inc. boosted its position in Allegiant Travel by 2,827.9% during the third quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock worth $69,000 after acquiring an additional 1,216 shares during the last quarter. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Allegiant Travel Trading Up 0.7 %

Shares of Allegiant Travel stock opened at $104.06 on Friday. The business has a 50 day moving average price of $91.65 and a 200 day moving average price of $66.30. The company has a market capitalization of $1.91 billion, a P/E ratio of -69.37, a P/E/G ratio of 1.35 and a beta of 1.62. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $106.87.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ALGT shares. StockNews.com raised Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Wednesday, January 15th. Wolfe Research cut Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. Evercore ISI boosted their target price on shares of Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. Raymond James increased their price target on shares of Allegiant Travel from $75.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, December 30th. Finally, Barclays boosted their price objective on shares of Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $79.60.

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.