Insider Selling: Allegiant Travel (NASDAQ:ALGT) Director Sells 350 Shares of Stock

Allegiant Travel (NASDAQ:ALGT) Director Sandra Douglass Morgan sold 350 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total transaction of $28,269.50. Following the completion of the transaction, the director now directly owns 11,650 shares in the company, valued at approximately $940,970.50. The trade was a 2.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Allegiant Travel Trading Up 0.3 %

Shares of Allegiant Travel 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 company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The stock’s fifty day moving average is $62.89 and its 200 day moving average is $52.92. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of -54.01, a price-to-earnings-growth ratio of 6.95 and a beta of 1.61. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $86.94.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ALGT. The Goldman Sachs Group reissued a “neutral” rating and issued a $83.00 target price on shares of Allegiant Travel in a research note on Friday, November 15th. UBS Group began coverage on Allegiant Travel in a research note on Tuesday. They issued a “neutral” rating and a $16.00 target price on the stock. Wolfe Research cut Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. TD Cowen increased their target price on Allegiant Travel from $42.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Barclays raised their price objective on Allegiant Travel from $50.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Allegiant Travel has a consensus rating of “Hold” and a consensus price target of $65.44.

Institutional Trading of Allegiant Travel

A number of institutional investors have recently modified their holdings of ALGT. Donald Smith & CO. Inc. lifted its holdings in Allegiant Travel by 166.7% in the second quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company’s stock worth $41,506,000 after buying an additional 516,545 shares during the period. U S Global Investors Inc. boosted its position in Allegiant Travel by 51.9% during the 3rd quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock valued at $40,823,000 after acquiring an additional 253,198 shares in the last quarter. Clearbridge Investments LLC bought a new stake in Allegiant Travel during the 2nd quarter valued at approximately $8,959,000. Millennium Management LLC boosted its position in Allegiant Travel by 779.8% during the 2nd quarter. Millennium Management LLC now owns 169,459 shares of the transportation company’s stock valued at $8,512,000 after acquiring an additional 150,197 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Allegiant Travel during the 3rd quarter valued at approximately $63,540,000. 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.