Allegiant Travel (NASDAQ:ALGT) Short Interest Update

Allegiant Travel (NASDAQ:ALGT) saw a significant 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. Approximately 6.9% of the company’s stock are sold short. Based on an average daily volume of 380,100 shares, the short-interest ratio is currently 2.6 days.

Allegiant Travel Stock Up 0.6 %

Shares of NASDAQ:ALGT opened at $102.99 on Friday. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $105.15. The stock’s fifty day moving average price is $86.42 and its 200-day moving average price is $62.82. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36.

Insider Activity

In related news, COO Keny Frank Wilper sold 635 shares of Allegiant Travel stock in a transaction that occurred 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 sale, the chief operating officer now owns 16,353 shares of the company’s stock, valued at approximately $1,025,169.57. The trade was a 3.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sandra Douglass Morgan sold 350 shares of Allegiant Travel stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total value of $28,269.50. Following the completion of the sale, the director now directly owns 11,650 shares of the company’s stock, valued at approximately $940,970.50. This trade represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,304 shares of company stock worth $2,459,900 over the last quarter. Insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SeaCrest Wealth Management LLC increased its position in Allegiant Travel by 3.3% in the fourth quarter. SeaCrest Wealth Management LLC now owns 6,210 shares of the transportation company’s stock worth $584,000 after buying an additional 200 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Allegiant Travel by 53.5% during the 4th quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock valued at $64,000 after acquiring an additional 236 shares during the period. Signaturefd LLC lifted its holdings in Allegiant Travel by 149.2% during the third quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 273 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Allegiant Travel by 136.9% during the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 304 shares in the last quarter. Finally, Privium Fund Management UK Ltd boosted its position in shares of Allegiant Travel by 3.5% in the third quarter. Privium Fund Management UK Ltd now owns 10,549 shares of the transportation company’s stock worth $581,000 after purchasing an additional 358 shares during the period. Institutional investors own 85.81% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ALGT. StockNews.com raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a report on Wednesday. Wolfe Research lowered Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Morgan Stanley lifted their price target on shares of Allegiant Travel from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. Susquehanna upped their price objective on shares of Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Finally, Bank of America boosted their price target on shares of Allegiant Travel from $54.00 to $95.00 and gave the stock an “underperform” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus 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.