Allegiant Travel (NASDAQ:ALGT) Sets New 52-Week High – Here’s Why

Allegiant Travel (NASDAQ:ALGT) hit a new 52-week high during trading on Monday . The stock traded as high as $100.12 and last traded at $99.46, with a volume of 53924 shares. The stock had previously closed at $93.93.

Analyst Ratings Changes

Several research analysts have commented on ALGT shares. Morgan Stanley boosted their target price on Allegiant Travel from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. StockNews.com raised Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Saturday. Susquehanna upped their price objective on Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday. Evercore ISI upped their price objective on Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. Finally, UBS Group initiated coverage on Allegiant Travel in a report on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 target price on the stock. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $74.11.

Allegiant Travel Trading Up 1.0 %

The business has a fifty day moving average of $81.15 and a 200-day moving average of $60.17. 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 market capitalization of $1.82 billion, a P/E ratio of -66.08, a PEG ratio of 7.17 and a beta of 1.62.

Insider Activity at Allegiant Travel

In other news, Director Sandra Douglass Morgan sold 350 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total transaction 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 $940,970.50. This trade represents a 2.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $84.46, for a total value of $2,391,822.74. Following the sale, the chairman now directly owns 2,147,730 shares of the company’s stock, 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. In the last three months, insiders sold 29,304 shares of company stock valued at $2,459,900. 15.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Allegiant Travel

Several large investors have recently made changes to their positions in the business. Donald Smith & CO. Inc. increased its position in shares of Allegiant Travel by 20.2% during the 3rd quarter. Donald Smith & CO. Inc. now owns 993,474 shares of the transportation company’s stock valued at $54,701,000 after purchasing an additional 167,148 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of Allegiant Travel by 1.9% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 945,839 shares of the transportation company’s stock worth $47,509,000 after acquiring an additional 17,792 shares during the period. U S Global Investors Inc. grew its stake in shares of Allegiant Travel by 51.9% during the 3rd quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock worth $40,823,000 after acquiring an additional 253,198 shares during the period. State Street Corp grew its stake in shares of Allegiant Travel by 1.7% during the 3rd quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock worth $33,530,000 after acquiring an additional 10,050 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of Allegiant Travel by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock worth $34,584,000 after acquiring an additional 14,852 shares during the period. 85.81% of the stock is owned by hedge funds and other institutional investors.

Allegiant Travel Company Profile

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.