Allegiant Travel (NASDAQ:ALGT) Short Interest Down 12.8% in September

Allegiant Travel (NASDAQ:ALGT) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totalling 1,700,000 shares, a decrease of 12.8% from the September 15th total of 1,950,000 shares. Based on an average daily volume of 428,700 shares, the short-interest ratio is currently 4.0 days. Approximately 11.1% of the shares of the stock are short sold.

Analysts Set New Price Targets

ALGT has been the topic of several research analyst reports. Morgan Stanley decreased their price target on shares of Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. Barclays lowered their price target on Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Susquehanna boosted their price objective on Allegiant Travel from $40.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Evercore ISI upped their price objective 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. Finally, TD Cowen lifted their target price on shares of Allegiant Travel from $33.00 to $42.00 and gave the company a “hold” rating in a research report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $63.13.

Insider Buying and Selling

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of Allegiant Travel stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the transaction, the director now owns 7,490 shares of the company’s stock, valued at $337,050. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have sold 1,699 shares of company stock valued at $77,350. Corporate insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Allegiant Travel by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock worth $131,591,000 after purchasing an additional 38,612 shares during the period. Diamond Hill Capital Management Inc. increased its stake in shares of Allegiant Travel by 1.9% in the second quarter. Diamond Hill Capital Management Inc. now owns 945,839 shares of the transportation company’s stock worth $47,509,000 after buying an additional 17,792 shares during the period. Donald Smith & CO. Inc. raised its holdings in Allegiant Travel by 166.7% during the 2nd quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company’s stock valued at $41,506,000 after buying an additional 516,545 shares during the last quarter. American Century Companies Inc. boosted its position in Allegiant Travel by 15.1% during the 2nd quarter. American Century Companies Inc. now owns 428,787 shares of the transportation company’s stock valued at $21,538,000 after buying an additional 56,208 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Allegiant Travel by 7.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 215,533 shares of the transportation company’s stock worth $10,826,000 after acquiring an additional 15,469 shares during the last quarter. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Allegiant Travel Trading Up 2.9 %

ALGT stock opened at $59.30 on Wednesday. The company has a market capitalization of $1.08 billion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 3.11 and a beta of 1.65. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.71 and a current ratio of 0.74. Allegiant Travel has a one year low of $36.08 and a one year high of $85.91. The company’s 50 day moving average price is $45.58 and its two-hundred day moving average price is $50.91.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Wednesday, July 31st. The transportation company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.93. Allegiant Travel had a negative net margin of 0.57% and a positive return on equity of 3.48%. The company had revenue of $666.28 million for the quarter, compared to analysts’ expectations of $657.74 million. During the same quarter last year, the company earned $4.35 EPS. The firm’s revenue was down 2.6% compared to the same quarter last year. As a group, analysts predict that Allegiant Travel will post 1.47 earnings per share for the current fiscal year.

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.