Allegiant Travel (NASDAQ:ALGT) Given New $100.00 Price Target at Barclays

Allegiant Travel (NASDAQ:ALGT) had its price objective increased by Barclays from $85.00 to $100.00 in a report issued on Thursday morning,Benzinga reports. They currently have an equal weight rating on the transportation company’s stock.

A number of other research analysts have also weighed in on ALGT. Susquehanna upped their price objective on Allegiant Travel from $60.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. The Goldman Sachs Group upped their price target on shares of Allegiant Travel from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday. Morgan Stanley raised their price objective on shares of Allegiant Travel from $80.00 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. UBS Group initiated coverage on shares of Allegiant Travel in a research report on Tuesday, November 26th. They set a “neutral” rating and a $16.00 target price on the stock. Finally, StockNews.com raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $77.89.

Allegiant Travel Price Performance

Shares of NASDAQ:ALGT opened at $102.34 on Thursday. 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 company has a 50-day moving average price of $85.21 and a 200 day moving average price of $62.17. Allegiant Travel has a 52 week low of $36.08 and a 52 week high of $105.15. The company has a market cap of $1.88 billion, a P/E ratio of -68.23, a PEG ratio of 1.33 and a beta of 1.62.

Insider Transactions at Allegiant Travel

In other news, COO Keny Frank Wilper sold 635 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total value of $39,808.15. Following the completion of the transaction, the chief operating officer now owns 16,353 shares of the company’s stock, valued at $1,025,169.57. The trade was a 3.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the firm’s stock in a transaction that occurred 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 sale, the chairman now owns 2,147,730 shares in the company, valued at approximately $181,397,275.80. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,304 shares of company stock valued at $2,459,900 in the last ninety days. Corporate insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ALGT. U S Global Investors Inc. grew its position in shares of 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 period. Clearbridge Investments LLC acquired a new stake in Allegiant Travel in the 2nd quarter worth about $8,959,000. Donald Smith & CO. Inc. grew its holdings in Allegiant Travel by 20.2% in the 3rd quarter. Donald Smith & CO. Inc. now owns 993,474 shares of the transportation company’s stock valued at $54,701,000 after buying an additional 167,148 shares during the period. Millennium Management LLC increased its stake in shares of 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 during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of Allegiant Travel during the 3rd quarter worth about $63,540,000. 85.81% of the stock is currently owned by institutional investors and hedge funds.

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.