Allegiant Travel (NASDAQ:ALGT) Chairman Sells $2,391,822.74 in Stock

Allegiant Travel (NASDAQ:ALGT) Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the business’s stock in a transaction 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 completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Allegiant Travel Trading Up 1.0 %

NASDAQ ALGT opened at $81.84 on Friday. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $86.94. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -55.22, a price-to-earnings-growth ratio of 6.70 and a beta of 1.61. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The firm’s fifty day moving average price is $64.41 and its 200 day moving average price is $53.31.

Analyst Upgrades and Downgrades

ALGT has been the subject of several analyst reports. UBS Group initiated coverage on Allegiant Travel in a research note on Tuesday. They set a “neutral” rating and a $16.00 target price for the company. 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 note on Monday, November 4th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $83.00 price target on shares of Allegiant Travel in a research note on Friday, November 15th. TD Cowen boosted their price target on shares of Allegiant Travel from $42.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, Wolfe Research lowered shares of 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $65.44.

Institutional Trading of Allegiant Travel

Hedge funds and other institutional investors have recently made changes to their positions in the company. Signaturefd LLC increased its holdings in shares of Allegiant Travel by 149.2% in the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 273 shares during the period. Nisa Investment Advisors LLC grew its position in Allegiant Travel by 136.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock worth $29,000 after purchasing an additional 304 shares during the last quarter. Innealta Capital LLC acquired a new position in Allegiant Travel in the second quarter valued at $34,000. CWM LLC raised its holdings in shares of Allegiant Travel by 275.1% in the second quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock valued at $64,000 after buying an additional 930 shares during the last quarter. Finally, NBC Securities Inc. boosted its stake in shares of Allegiant Travel by 2,827.9% during the third quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock worth $69,000 after buying an additional 1,216 shares during the period. Institutional investors and hedge funds own 85.81% of the company’s stock.

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.