Maurice J. Gallagher, Jr. Sells 28,319 Shares of Allegiant Travel (NASDAQ:ALGT) Stock

Allegiant Travel (NASDAQ:ALGT) Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $84.46, for a total transaction of $2,391,822.74. Following the completion of the transaction, the chairman now directly owns 2,147,730 shares in the company, valued at $181,397,275.80. This represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Allegiant Travel Trading Up 1.0 %

Shares of ALGT stock opened at $81.84 on Friday. The stock has a market cap of $1.50 billion, a P/E ratio of -55.22, a P/E/G ratio of 6.70 and a beta of 1.61. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. Allegiant Travel has a fifty-two week low of $36.08 and a fifty-two week high of $86.94. The business has a fifty day simple moving average of $64.41 and a 200-day simple moving average of $53.31.

Hedge Funds Weigh In On Allegiant Travel

Hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC lifted its holdings in shares of Allegiant Travel by 149.2% in 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 stake in Allegiant Travel by 136.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock valued at $29,000 after buying an additional 304 shares in the last quarter. Privium Fund Management UK Ltd grew its holdings in Allegiant Travel by 3.5% during the 3rd quarter. Privium Fund Management UK Ltd now owns 10,549 shares of the transportation company’s stock valued at $581,000 after buying an additional 358 shares during the last quarter. SeaCrest Wealth Management LLC increased its position in Allegiant Travel by 8.1% during the third quarter. SeaCrest Wealth Management LLC now owns 6,010 shares of the transportation company’s stock worth $331,000 after buying an additional 450 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in Allegiant Travel by 7.9% during the second quarter. Harbor Capital Advisors Inc. now owns 7,591 shares of the transportation company’s stock worth $381,000 after buying an additional 553 shares in the last quarter. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALGT has been the topic of a number of recent analyst reports. TD Cowen boosted their price target 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. Susquehanna increased their target price on Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. UBS Group started coverage on Allegiant Travel in a research note on Tuesday. They issued a “neutral” rating and a $16.00 price target on the stock. The Goldman Sachs Group reiterated a “neutral” rating and issued a $83.00 price objective on shares of Allegiant Travel in a research report on Friday, November 15th. Finally, Barclays raised their target price on Allegiant Travel from $50.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $65.44.

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.