Allegiant Travel (NASDAQ:ALGT) Sets New 1-Year High at $192.46


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Allegiant Travel (NASDAQ:ALGT)’s stock price hit a new 52-week high on Thursday . The company traded as high as $192.46 and last traded at $190.59, with a volume of 415 shares changing hands. The stock had previously closed at $187.68.

ALGT has been the subject of a number of research reports. Barclays upgraded Allegiant Travel from an “underweight” rating to an “overweight” rating and raised their target price for the company from $100.00 to $150.00 in a research note on Monday, October 12th. Raymond James restated a “hold” rating on shares of Allegiant Travel in a report on Tuesday, December 1st. Deutsche Bank Aktiengesellschaft cut Allegiant Travel from a “buy” rating to a “hold” rating and raised their target price for the stock from $145.00 to $180.00 in a report on Friday, December 11th. Bank of America cut Allegiant Travel from a “buy” rating to a “neutral” rating in a report on Friday, January 8th. Finally, Cowen upgraded Allegiant Travel from a “market perform” rating to an “outperform” rating and set a $214.00 price objective on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $160.46.

The stock has a market cap of $3.21 billion, a P/E ratio of -31.12 and a beta of 1.71. The company has a 50 day simple moving average of $179.56 and a 200 day simple moving average of $139.58. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 1.99.

Allegiant Travel (NASDAQ:ALGT) last released its earnings results on Monday, November 2nd. The transportation company reported ($4.28) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($5.14) by $0.86. The firm had revenue of $200.98 million for the quarter, compared to analysts’ expectations of $192.19 million. Allegiant Travel had a negative return on equity of 8.83% and a negative net margin of 7.86%. As a group, sell-side analysts expect that Allegiant Travel will post -10.57 earnings per share for the current year.

In other Allegiant Travel news, EVP Scott Wayne Deangelo sold 1,796 shares of the business’s stock in a transaction that occurred on Friday, November 13th. The stock was sold at an average price of $150.91, for a total transaction of $271,034.36. Also, Director Linda A. Marvin sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 24th. The stock was sold at an average price of $168.86, for a total value of $168,860.00. Insiders have sold a total of 86,818 shares of company stock worth $13,590,073 in the last ninety days. Insiders own 19.60% of the company’s stock.

Several large investors have recently bought and sold shares of the business. Commerce Bank increased its position in shares of Allegiant Travel by 3.6% during the 3rd quarter. Commerce Bank now owns 2,946 shares of the transportation company’s stock worth $353,000 after purchasing an additional 101 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Allegiant Travel by 5.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,582 shares of the transportation company’s stock valued at $549,000 after purchasing an additional 241 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Allegiant Travel by 15.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,640 shares of the transportation company’s stock valued at $316,000 after purchasing an additional 350 shares during the period. Point72 Hong Kong Ltd boosted its position in Allegiant Travel by 538.9% during the 3rd quarter. Point72 Hong Kong Ltd now owns 460 shares of the transportation company’s stock worth $55,000 after acquiring an additional 388 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its position in Allegiant Travel by 23.4% during the 3rd quarter. Guggenheim Capital LLC now owns 2,619 shares of the transportation company’s stock worth $314,000 after acquiring an additional 496 shares during the last quarter. 86.10% of the stock is currently owned by hedge funds and other institutional investors.

Allegiant Travel Company Profile (NASDAQ:ALGT)

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 14, 2020, it operated a fleet of 94 Airbus A320 series aircraft.

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