Allegiant Travel (NASDAQ:ALGT) Short Interest Update

Allegiant Travel (NASDAQ:ALGT) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 1,350,000 shares, an increase of 29.8% from the February 13th total of 1,040,000 shares. Based on an average daily trading volume, of 371,500 shares, the short-interest ratio is currently 3.6 days. Approximately 9.6% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ALGT. Bank of America upped their price objective on shares of Allegiant Travel from $54.00 to $95.00 and gave the company an “underperform” rating in a research report on Friday, January 17th. StockNews.com upgraded shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. TD Cowen increased their target price on Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, December 17th. Morgan Stanley increased their target price on Allegiant Travel from $90.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, Raymond James increased their target price on Allegiant Travel from $75.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, December 30th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $80.10.

Institutional Investors Weigh In On Allegiant Travel

Several hedge funds have recently bought and sold shares of ALGT. Empowered Funds LLC lifted its stake in Allegiant Travel by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 80,695 shares of the transportation company’s stock valued at $4,443,000 after purchasing an additional 4,020 shares during the last quarter. Drive Wealth Management LLC acquired a new stake in Allegiant Travel in the 3rd quarter valued at about $471,000. Segall Bryant & Hamill LLC lifted its stake in Allegiant Travel by 5.1% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 103,508 shares of the transportation company’s stock valued at $5,699,000 after purchasing an additional 5,052 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Allegiant Travel in the 3rd quarter valued at about $450,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in Allegiant Travel in the 3rd quarter valued at about $6,193,000. 85.81% of the stock is currently owned by institutional investors and hedge funds.

Allegiant Travel Trading Down 3.3 %

Allegiant Travel stock opened at $52.42 on Wednesday. The firm has a 50-day moving average of $84.65 and a 200-day moving average of $73.76. Allegiant Travel has a one year low of $36.09 and a one year high of $107.57. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The company has a market cap of $961.28 million, a price-to-earnings ratio of -3.92 and a beta of 1.64.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 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%. On average, equities analysts expect that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

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.