Insider Selling: Allegiant Travel (NASDAQ:ALGT) COO Sells 278 Shares of Stock

Allegiant Travel (NASDAQ:ALGT) COO Keny Frank Wilper sold 278 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $41.41, for a total transaction of $11,511.98. Following the completion of the transaction, the chief operating officer now owns 15,918 shares of the company’s stock, valued at approximately $659,164.38. The trade was a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Allegiant Travel Trading Up 18.9 %

Shares of Allegiant Travel stock opened at $50.34 on Thursday. The company has a market capitalization of $923.13 million, a P/E ratio of -3.77 and a beta of 1.57. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The company has a fifty day moving average of $66.33 and a 200 day moving average of $74.47. Allegiant Travel has a fifty-two week low of $36.09 and a fifty-two week high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share for the quarter, topping the consensus estimate 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, sell-side analysts anticipate that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in shares of Allegiant Travel by 5,248.2% during the 1st quarter. GAMMA Investing LLC now owns 36,207 shares of the transportation company’s stock valued at $1,870,000 after purchasing an additional 35,530 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Allegiant Travel during the 4th quarter valued at about $3,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Allegiant Travel during the 4th quarter valued at about $655,000. Voloridge Investment Management LLC bought a new position in shares of Allegiant Travel during the 4th quarter valued at about $16,713,000. Finally, Woodline Partners LP bought a new position in shares of Allegiant Travel during the 4th quarter valued at about $5,372,000. Institutional investors own 85.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. UBS Group decreased their target price on shares of Allegiant Travel from $61.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday. Morgan Stanley boosted their target price on shares of Allegiant Travel from $90.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. TD Cowen boosted their target price on shares of Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a research note on Tuesday, December 17th. The Goldman Sachs Group boosted their target price on shares of Allegiant Travel from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Finally, Raymond James upgraded shares of Allegiant Travel from an “outperform” rating to a “strong-buy” rating and decreased their target price for the company from $125.00 to $90.00 in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $67.00.

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.