Allegiant Travel (NASDAQ:ALGT) Now Covered by Analysts at UBS Group

UBS Group started coverage on shares of Allegiant Travel (NASDAQ:ALGT) in a research report report published on Tuesday, Marketbeat Ratings reports. The firm issued a neutral rating and a $16.00 price objective on the transportation company’s stock.

Other equities research analysts have also recently issued reports about the company. Wolfe Research cut Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $83.00 price target on shares of Allegiant Travel in a report on Friday, November 15th. Barclays increased their price objective on shares of Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. TD Cowen boosted their target price on shares of Allegiant Travel from $42.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, Susquehanna increased their price target on shares of Allegiant Travel from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $65.44.

Allegiant Travel Price Performance

NASDAQ:ALGT opened at $80.74 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The firm has a market cap of $1.48 billion, a PE ratio of -53.83, a price-to-earnings-growth ratio of 6.54 and a beta of 1.61. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $86.94. The company’s 50-day moving average price is $62.12 and its two-hundred day moving average price is $52.73.

Insiders Place Their Bets

In related news, COO Keny Frank Wilper sold 635 shares of Allegiant Travel stock in a transaction that occurred on 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 owns 16,353 shares of the company’s stock, valued at $1,025,169.57. This trade represents a 3.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 15.80% of the company’s stock.

Institutional Trading of Allegiant Travel

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Allegiant Travel by 2.3% in the first quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock valued at $131,591,000 after acquiring an additional 38,612 shares during the period. Donald Smith & CO. Inc. grew its position in shares of Allegiant Travel by 20.2% in the 3rd quarter. Donald Smith & CO. Inc. now owns 993,474 shares of the transportation company’s stock valued at $54,701,000 after purchasing an additional 167,148 shares during the period. Diamond Hill Capital Management Inc. increased its stake in Allegiant Travel by 1.9% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 945,839 shares of the transportation company’s stock worth $47,509,000 after purchasing an additional 17,792 shares in the last quarter. U S Global Investors Inc. raised its holdings in Allegiant Travel by 51.9% during the 3rd quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock worth $40,823,000 after buying an additional 253,198 shares during the period. Finally, State Street Corp lifted its stake in Allegiant Travel by 1.7% in the third quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock valued at $33,530,000 after buying an additional 10,050 shares in the last quarter. 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.