Short Interest in Allegiant Travel (NASDAQ:ALGT) Decreases By 9.4%

Allegiant Travel (NASDAQ:ALGT) saw a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 987,300 shares, a decrease of 9.4% from the December 15th total of 1,090,000 shares. Based on an average trading volume of 380,100 shares, the days-to-cover ratio is currently 2.6 days. Currently, 6.9% of the company’s shares are short sold.

Insider Activity

In related news, COO Keny Frank Wilper sold 635 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total value of $39,808.15. Following the completion of the sale, the chief operating officer now owns 16,353 shares in the company, valued at $1,025,169.57. This represents a 3.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of Allegiant Travel stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $84.46, for a total value of $2,391,822.74. Following the transaction, the chairman now owns 2,147,730 shares in the company, valued at approximately $181,397,275.80. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,304 shares of company stock valued at $2,459,900 in the last ninety days. 15.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Allegiant Travel

A number of large investors have recently added to or reduced their stakes in ALGT. Signaturefd LLC lifted its position in shares of Allegiant Travel by 149.2% during the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 273 shares during the period. Nisa Investment Advisors LLC lifted its position in Allegiant Travel by 136.9% during the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock worth $29,000 after purchasing an additional 304 shares during the period. GAMMA Investing LLC grew its stake in Allegiant Travel by 53.5% during the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after buying an additional 236 shares in the last quarter. NBC Securities Inc. increased its holdings in Allegiant Travel by 2,827.9% in the 3rd quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock valued at $69,000 after buying an additional 1,216 shares during the period. Finally, Stifel Financial Corp acquired a new position in shares of Allegiant Travel in the 3rd quarter valued at approximately $210,000. Institutional investors and hedge funds own 85.81% of the company’s stock.

Allegiant Travel Stock Performance

NASDAQ ALGT traded up $0.65 during trading on Friday, reaching $102.99. The company’s stock had a trading volume of 208,810 shares, compared to its average volume of 264,191. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $105.15. The firm has a 50 day moving average price of $86.42 and a 200 day moving average price of $62.91. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75.

Analyst Ratings Changes

Several research analysts have recently weighed in on ALGT shares. Morgan Stanley upped 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. Bank of America boosted their price target on Allegiant Travel from $54.00 to $95.00 and gave the company an “underperform” rating in a report on Friday. Raymond James increased their price objective on Allegiant Travel from $75.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, December 30th. Susquehanna raised their price target on shares of Allegiant Travel from $60.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Finally, UBS Group initiated coverage on shares of Allegiant Travel in a report on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $79.60.

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.