Allegiant Travel (NASDAQ:ALGT) Shares Gap Down – Here’s Why

Allegiant Travel Company (NASDAQ:ALGT)’s stock price gapped down prior to trading on Wednesday. The stock had previously closed at $73.59, but opened at $71.59. Allegiant Travel shares last traded at $72.7980, with a volume of 30,529 shares traded.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ALGT. The Goldman Sachs Group raised their price objective on shares of Allegiant Travel from $125.00 to $142.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Citigroup restated a “buy” rating on shares of Allegiant Travel in a research report on Tuesday, October 6th. Weiss Ratings raised Allegiant Travel from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Melius Research upgraded Allegiant Travel from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a research report on Tuesday, July 7th. Finally, Bank of America lifted their price target on Allegiant Travel from $100.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $123.38.

Allegiant Travel Stock Performance

The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 51.10 and a beta of 1.55. The stock’s fifty day simple moving average is $75.94 and its two-hundred day simple moving average is $87.96.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Tuesday, August 4th. The transportation company reported $2.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.92. The business had revenue of $943.49 million for the quarter, compared to the consensus estimate of $982.70 million. The company’s quarterly revenue was up 36.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.23 earnings per share. Allegiant Travel has set its Q3 2026 guidance at -1.000–0.000 EPS. On average, equities analysts anticipate that Allegiant Travel Company will post 5.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Allegiant Travel

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC increased its stake in Allegiant Travel by 40.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 584 shares of the transportation company’s stock worth $44,000 after purchasing an additional 168 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in Allegiant Travel during the second quarter valued at about $26,000. Allworth Financial LP acquired a new position in shares of Allegiant Travel in the second quarter worth about $26,000. Yousif Capital Management LLC boosted its holdings in shares of Allegiant Travel by 4.7% in the third quarter. Yousif Capital Management LLC now owns 6,290 shares of the transportation company’s stock worth $477,000 after buying an additional 285 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Allegiant Travel in the second quarter worth approximately $42,000. Institutional investors and hedge funds own 85.81% of the company’s stock.

About Allegiant Travel

Allegiant Travel Company is a leisure-focused travel company headquartered in Las Vegas, Nevada. Its principal operating subsidiary, Allegiant Air, is a low-cost airline that provides scheduled and charter passenger service, primarily connecting smaller and mid-sized U.S. cities with popular vacation destinations.

Allegiant Air’s business model emphasizes nonstop routes, low base fares and optional services such as seat selection, baggage, priority boarding and other travel-related amenities.