Allegiant Travel (NASDAQ:ALGT) Sets New 12-Month High – Still a Buy?

Allegiant Travel (NASDAQ:ALGT)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $105.50 and last traded at $104.15, with a volume of 12595 shares. The stock had previously closed at $102.99.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ALGT. TD Cowen upped their price target on Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, December 17th. Barclays upped their target price on shares of Allegiant Travel from $85.00 to $100.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Morgan Stanley raised their price target on shares of Allegiant Travel from $80.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. StockNews.com raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. Finally, The Goldman Sachs Group raised their target price on shares of Allegiant Travel from $83.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $79.60.

Allegiant Travel Stock Down 0.9 %

The company’s 50 day moving average price is $88.19 and its two-hundred day moving average price is $64.09. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. The firm has a market cap of $1.91 billion, a PE ratio of -69.55, a PEG ratio of 1.33 and a beta of 1.62.

Insider Activity at Allegiant Travel

In other Allegiant Travel news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $84.46, for a total transaction of $2,391,822.74. Following the sale, the chairman now owns 2,147,730 shares in the company, valued at approximately $181,397,275.80. This trade represents a 1.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sandra Douglass Morgan sold 350 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total transaction of $28,269.50. Following the completion of the transaction, the director now owns 11,650 shares of the company’s stock, valued at approximately $940,970.50. The trade was a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Allegiant Travel

Institutional investors and hedge funds have recently bought and sold shares of the business. U S Global Investors Inc. grew its position in shares of Allegiant Travel by 51.9% during the third quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock worth $40,823,000 after purchasing an additional 253,198 shares in the last quarter. Clearbridge Investments LLC purchased a new stake in Allegiant Travel during the 2nd quarter valued at approximately $8,959,000. Donald Smith & CO. Inc. grew its holdings in Allegiant Travel by 20.2% during the 3rd quarter. Donald Smith & CO. Inc. now owns 993,474 shares of the transportation company’s stock valued at $54,701,000 after buying an additional 167,148 shares in the last quarter. Millennium Management LLC raised its position in shares of Allegiant Travel by 779.8% during the second quarter. Millennium Management LLC now owns 169,459 shares of the transportation company’s stock valued at $8,512,000 after buying an additional 150,197 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of Allegiant Travel in the third quarter worth $63,540,000. 85.81% of the stock is owned by institutional investors.

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.