The Goldman Sachs Group Reiterates “Neutral” Rating for Allegiant Travel (NASDAQ:ALGT)

The Goldman Sachs Group reiterated their neutral rating on shares of Allegiant Travel (NASDAQ:ALGT) in a research note released on Friday, MarketBeat Ratings reports. The Goldman Sachs Group currently has a $83.00 target price on the transportation company’s stock.

A number of other equities research analysts have also recently weighed in on the company. Evercore ISI raised their price target on Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. TD Cowen lifted their price target on Allegiant Travel from $42.00 to $50.00 and gave the company a “hold” rating in a report on Friday, November 1st. Barclays upped their price target on shares of Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday. Wolfe Research downgraded shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Finally, Susquehanna upped their target price on shares of Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $70.11.

Allegiant Travel Stock Performance

NASDAQ ALGT opened at $77.69 on Friday. Allegiant Travel has a 1-year low of $36.08 and a 1-year high of $85.91. The company has a 50 day moving average of $57.95 and a 200-day moving average of $51.82. 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 $1.42 billion, a price-to-earnings ratio of -51.79, a PEG ratio of 6.17 and a beta of 1.61.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the sale, the director now owns 7,490 shares of the company’s stock, valued at approximately $337,050. This represents a 11.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Keny Frank Wilper sold 635 shares of Allegiant Travel stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total transaction of $39,808.15. Following the transaction, the chief operating officer now directly owns 16,353 shares in the company, valued at approximately $1,025,169.57. This represents a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,931 shares of company stock worth $101,372. Insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On Allegiant Travel

Several institutional investors and hedge funds have recently modified their holdings of ALGT. Donald Smith & CO. Inc. lifted its stake 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 valued at $41,506,000 after buying an additional 516,545 shares in the last quarter. U S Global Investors Inc. lifted its position in Allegiant Travel by 51.9% in 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 acquired a new position in Allegiant Travel in the 2nd quarter worth $8,959,000. Millennium Management LLC boosted its stake in Allegiant Travel by 779.8% in the 2nd quarter. Millennium Management LLC now owns 169,459 shares of the transportation company’s stock worth $8,512,000 after purchasing an additional 150,197 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of Allegiant Travel in the 3rd quarter valued at about $63,540,000. 85.81% of the stock is currently owned by institutional investors and hedge funds.

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.