Allegiant Travel (NASDAQ:ALGT) Downgraded by Wolfe Research to Hold

Wolfe Research cut shares of Allegiant Travel (NASDAQ:ALGT) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning, Zacks.com reports.

A number of other equities research analysts have also recently commented on ALGT. Barclays increased their target price on shares of Allegiant Travel from $45.00 to $50.00 and gave the company an “equal weight” rating in a research report on Monday. TD Cowen raised their target price on shares of Allegiant Travel from $42.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Evercore ISI upped their price target on Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a research report on Thursday, October 3rd. Susquehanna increased their price target on Allegiant Travel from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Monday. Finally, Morgan Stanley lowered their price objective on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Allegiant Travel has a consensus rating of “Hold” and a consensus target price of $65.38.

Allegiant Travel Stock Up 0.4 %

Shares of ALGT opened at $66.25 on Monday. The stock has a 50 day moving average price of $52.19 and a 200 day moving average price of $50.85. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.71 and a current ratio of 0.74. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -44.17, a PEG ratio of 4.61 and a beta of 1.61. Allegiant Travel has a one year low of $36.08 and a one year high of $85.91.

Insider Buying and Selling at Allegiant Travel

In related news, COO Keny Frank Wilper sold 635 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total transaction of $39,808.15. Following the completion of the sale, the chief operating officer now directly owns 16,353 shares of the company’s stock, valued at approximately $1,025,169.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the sale, the director now owns 7,490 shares of the company’s stock, valued at $337,050. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Keny Frank Wilper sold 635 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total value of $39,808.15. Following the transaction, the chief operating officer now owns 16,353 shares in the company, valued at $1,025,169.57. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,334 shares of company stock worth $117,158 over the last quarter. 15.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Allegiant Travel

Hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in Allegiant Travel in the 3rd quarter valued at about $63,540,000. Interval Partners LP acquired a new stake in shares of Allegiant Travel during the first quarter worth about $5,641,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Allegiant Travel in the first quarter valued at approximately $1,306,000. Clearbridge Investments LLC acquired a new position in shares of Allegiant Travel in the second quarter valued at approximately $8,959,000. Finally, First Eagle Investment Management LLC increased its stake in Allegiant Travel by 57.5% during the 1st quarter. First Eagle Investment Management LLC now owns 103,513 shares of the transportation company’s stock worth $7,785,000 after buying an additional 37,800 shares during the period. Institutional investors and hedge funds own 85.81% of the company’s stock.

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.