Allegiant Travel (NASDAQ:ALGT – Get Rating ) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest in 588,100 shares, a 9.5% increase from the August 15th total of 537,000 shares. Based on an average daily trading volume of 232,800 shares, the ratio of short interest is currently 2.5 days. Approximately 3.8% of the company’s shares are sold short.
Wall Street analysts predict growth
ALGT has been the subject of a number of research reports. Raymond James raised Allegiant Travel from a “market perform” rating to an “outperform” rating and set a $150.00 price objective on the stock in a research note on Thursday, September 8th. StockNews.com raised Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Tuesday, September 6th. Deutsche Bank Aktiengesellschaft reduced their price objective on Allegiant Travel from $245.00 to $190.00 in a research note on Thursday, August 4th. Evercore ISI decreased their price objective on Allegiant Travel from $175.00 to $150.00 and set an “in-line” rating for the company in a research note on Monday, June 27th. Finally, Wolfe Research cut Allegiant Travel from an “outperform” rating to a “peer perform” rating and set a $116.00 price objective for the company. in a research note on Friday, August 12th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Allegiant Travel currently has an average rating of “Moderate Buy” and a consensus target price of $168.60, according to MarketBeat.com.
Loyalty travel price performance
Shares of NASDAQ ALGT opened at $91.07 on Monday. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 35.44 and a beta of 1.52. The stock has a fifty day simple moving average of $106.53 and a two hundred day simple moving average of $130.67. Allegiant Travel has a 1 year low of $90.63 and a 1 year high of $215.48. The company has a current ratio of 1.53, a quick ratio of 1.49, and a debt-to-equity ratio of 1.46.
Allegiant Travel (NASDAQ:ALGT – Get Rating ) last issued its earnings results on Wednesday, August 3rd. The transportation company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.44). Allegiant Travel had a return on equity of 3.51% and a net margin of 2.23%. During the same period a year ago, the company posted $3.46 EPS. analysts anticipate that Allegiant Travel will post 1.83 earnings per share for the current year.
Allegiant Travel Insider Buying and Selling
In other news, CMO Scott Wayne Deangelo sold 500 shares of the business’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $112.89, for a total value of $56,445.00. Following the transaction, the chief marketing officer now directly owns 8,035 shares of the company’s stock, valued at approximately $907,071.15. The sale was disclosed in a filing with the Securities and Exchange Commission, which can be accessed through the SEC’s website. In other news, CMO Scott Wayne Deangelo sold 500 shares of the business’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $112.89, for a total value of $56,445.00. Following the transaction, the chief marketing officer now directly owns 8,035 shares of the company’s stock, valued at approximately $907,071.15. The sale was disclosed in a filing with the Securities and Exchange Commission, which can be accessed through the SEC’s website. Also, EVP Robert Paul Wilson III sold 446 shares of the business’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $96.73, for a total value of $43,141.58. Following the completion of the transaction, the executive vice president now directly owns 23,961 shares in the company, valued at $2,317,747.53. Disclosure for this sale can be found here. In the last quarter, insiders have sold 4,896 shares of company stock valued at $521,593. Insiders own 15.10% of the company’s stock.
Institutional investors weigh in on loyal travel
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its position in shares of Allegiant Travel by 0.4% in the first quarter. BlackRock Inc. now owns 2,355,920 shares of the transportation company’s stock worth $382,578,000 after purchasing an additional 8,810 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Allegiant Travel by 1.7% in the first quarter. Vanguard Group Inc. now owns 1,649,252 shares of the transportation company’s stock valued at $267,823,000 after purchasing an additional 26,815 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Allegiant Travel by 220.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,330,668 shares of the transportation company’s stock worth $150,485,000 after purchasing an additional 915,511 shares in the last quarter. State Street Corp boosted its position in shares of Allegiant Travel by 7.7% in the first quarter. State Street Corp now owns 643,363 shares of the transportation company’s stock valued at $104,476,000 after purchasing an additional 46,220 shares in the last quarter. Finally, US Global Investors Inc. grew its position in Allegiant Travel by 18.3% during the first quarter. US Global Investors Inc. now owns 616,869 shares of the transportation company’s stock valued at $100,173,000 after purchasing an additional 95,643 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s shares.
About Allegiant Travel
(Get rating)
Allegiant Travel Company, a leisure travel company, provides travel services and products to residents of underserved cities in the United States. The company offers scheduled air transportation with limited frequencies, non-stop flights between underserved cities and leisure destinations. As of 14 February 2022, it operated a fleet of 110 Airbus A320 series aircraft.
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