BidaskClub upgraded shares of Allegiant Travel (NASDAQ:ALGT) from a hold rating to a buy rating in a report released on Thursday.
Several other equities research analysts have also recently weighed in on the company. Deutsche Bank raised Allegiant Travel from a hold rating to a buy rating and increased their price objective for the company from $130.00 to $180.00 in a research report on Thursday, December 21st. Imperial Capital increased their price objective on Allegiant Travel from $132.00 to $150.00 and gave the company an in-line rating in a research report on Tuesday, December 19th. Zacks Investment Research cut Allegiant Travel from a hold rating to a sell rating in a research report on Tuesday, October 10th. ValuEngine upgraded Allegiant Travel from a hold rating to a buy rating in a research note on Thursday, December 21st. Finally, Cowen restated a market perform rating and issued a $158.00 target price (up from $145.00) on shares of Allegiant Travel in a research note on Friday, December 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $157.09.
Allegiant Travel (NASDAQ:ALGT) traded up $1.35 on Thursday, hitting $168.30. The stock had a trading volume of 150,395 shares, compared to its average volume of 166,408. Allegiant Travel has a 12 month low of $111.54 and a 12 month high of $178.73. The company has a quick ratio of 1.01, a current ratio of 1.05 and a debt-to-equity ratio of 1.78. The company has a market capitalization of $2,680.00, a PE ratio of 17.90, a price-to-earnings-growth ratio of 2.51 and a beta of 0.16.
In related news, CEO Maurice J. Gallagher, Jr. sold 71,678 shares of the company’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $165.54, for a total value of $11,865,576.12. Following the completion of the transaction, the chief executive officer now directly owns 3,071,196 shares in the company, valued at $508,405,785.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Scott Sheldon sold 5,872 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $137.63, for a total value of $808,163.36. Following the completion of the transaction, the chief financial officer now owns 21,202 shares of the company’s stock, valued at $2,918,031.26. The disclosure for this sale can be found here. Insiders sold 294,568 shares of company stock valued at $48,550,676 over the last 90 days. 21.00% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its stake in Allegiant Travel by 154.9% during the third quarter. SG Americas Securities LLC now owns 6,371 shares of the transportation company’s stock worth $839,000 after acquiring an additional 3,872 shares in the last quarter. State Street Corp raised its stake in Allegiant Travel by 2.4% during the second quarter. State Street Corp now owns 354,060 shares of the transportation company’s stock worth $48,013,000 after acquiring an additional 8,300 shares in the last quarter. AHL Partners LLP raised its stake in Allegiant Travel by 309.1% during the second quarter. AHL Partners LLP now owns 38,747 shares of the transportation company’s stock worth $5,254,000 after acquiring an additional 29,275 shares in the last quarter. Victory Capital Management Inc. raised its stake in Allegiant Travel by 517.5% during the third quarter. Victory Capital Management Inc. now owns 5,267 shares of the transportation company’s stock worth $694,000 after acquiring an additional 4,414 shares in the last quarter. Finally, Piedmont Investment Advisors LLC acquired a new position in Allegiant Travel during the second quarter worth $385,000. Hedge funds and other institutional investors own 86.16% of the company’s stock.
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About Allegiant Travel
Allegiant Travel Company is a leisure travel company. The Company is focused on providing travel services and products to residents of under-served cities in the United States. It also provides air transportation under fixed fee flying arrangements. The Company’s products and services include scheduled service air transportation, air-related ancillary products and services, third-party ancillary products and services and fixed fee contract air transportation.
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