UBS Group Initiates Coverage on Allegiant Travel (NASDAQ:ALGT)

UBS Group assumed coverage on shares of Allegiant Travel (NASDAQ:ALGT) in a research report sent to investors on Tuesday, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $16.00 price target on the transportation company’s stock.

Other analysts also recently issued research reports about the company. Barclays upped their price target on Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Susquehanna raised their price objective on Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. 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. TD Cowen lifted their price objective on Allegiant Travel from $42.00 to $50.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, Wolfe Research cut Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $65.44.

Allegiant Travel Stock Up 0.3 %

NASDAQ:ALGT opened at $81.02 on Tuesday. The business’s fifty day moving average price is $63.65 and its 200 day moving average price is $53.12. 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 capitalization of $1.49 billion, a price-to-earnings ratio of -54.01, a PEG 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.

Insider Transactions at Allegiant Travel

In related news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $84.46, for a total value of $2,391,822.74. Following the transaction, the chairman now owns 2,147,730 shares of the company’s stock, valued at approximately $181,397,275.80. This trade represents a 1.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Keny Frank Wilper sold 635 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were 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 $1,025,169.57. The trade was a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,600 shares of company stock worth $2,476,465. Corporate insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On Allegiant Travel

Several institutional investors and hedge funds have recently bought and sold shares of the company. Signaturefd LLC grew its position in shares of Allegiant Travel by 149.2% in the third quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 273 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Allegiant Travel by 136.9% in the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock worth $29,000 after acquiring an additional 304 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Allegiant Travel during the 2nd quarter valued at about $34,000. CWM LLC grew its position in Allegiant Travel by 275.1% during the second quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock valued at $64,000 after acquiring an additional 930 shares during the last quarter. Finally, NBC Securities Inc. lifted its stake in Allegiant Travel by 2,827.9% in the third quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock worth $69,000 after purchasing an additional 1,216 shares during the last quarter. 85.81% of the stock is owned by institutional investors.

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.