Insider Selling: Allegiant Travel (NASDAQ:ALGT) COO Sells $11,511.98 in Stock

Allegiant Travel (NASDAQ:ALGT) COO Keny Frank Wilper sold 278 shares of the firm’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $41.41, for a total value of $11,511.98. Following the sale, the chief operating officer now directly owns 15,918 shares in the company, valued at approximately $659,164.38. The trade was a 1.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Allegiant Travel Trading Down 7.9 %

Shares of NASDAQ:ALGT opened at $46.38 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. Allegiant Travel has a 52-week low of $36.09 and a 52-week high of $107.57. The stock has a market cap of $850.52 million, a price-to-earnings ratio of -3.47 and a beta of 1.57. The business has a 50-day moving average price of $65.30 and a 200-day moving average price of $74.46.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $1.62. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. Equities analysts predict that Allegiant Travel will post 7.7 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALGT. Crews Bank & Trust acquired a new position in Allegiant Travel in the fourth quarter valued at approximately $25,000. Jones Financial Companies Lllp lifted its stake in shares of Allegiant Travel by 94.5% in the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 223 shares during the period. Sterling Capital Management LLC lifted its stake in shares of Allegiant Travel by 803.6% in the 4th quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 442 shares during the period. Signaturefd LLC boosted its holdings in Allegiant Travel by 30.3% during the fourth quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock worth $56,000 after buying an additional 138 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Allegiant Travel by 53.5% during the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock valued at $64,000 after buying an additional 236 shares during the period. 85.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on ALGT. Morgan Stanley boosted their price objective on shares of Allegiant Travel from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Raymond James raised Allegiant Travel from an “outperform” rating to a “strong-buy” rating and reduced their price target for the stock from $125.00 to $90.00 in a research report on Wednesday, April 2nd. TD Cowen raised their price objective on Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, December 17th. Bank of America dropped their target price on Allegiant Travel from $95.00 to $50.00 and set an “underperform” rating on the stock in a research note on Thursday, April 3rd. Finally, Barclays decreased their price target on Allegiant Travel from $100.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $67.00.

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.