Allegiant Travel (NASDAQ:ALGT) Rating Lowered to “Hold” at Zacks Research

Allegiant Travel (NASDAQ:ALGT) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other equities analysts also recently weighed in on ALGT. Susquehanna reaffirmed a “positive” rating and issued a $110.00 price objective on shares of Allegiant Travel in a research note on Friday, February 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Allegiant Travel in a research report on Wednesday, January 21st. Wall Street Zen raised Allegiant Travel from a “sell” rating to a “hold” rating in a report on Sunday, December 28th. Evercore lifted their price target on Allegiant Travel from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Finally, Raymond James Financial lowered shares of Allegiant Travel from a “strong-buy” rating to an “outperform” rating and boosted their price objective for the stock from $78.00 to $98.00 in a research report on Friday, December 19th. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Allegiant Travel presently has an average rating of “Hold” and an average target price of $97.91.

Allegiant Travel Price Performance

ALGT stock opened at $82.83 on Wednesday. The firm has a 50 day moving average of $92.49 and a 200-day moving average of $80.12. The company has a market cap of $1.53 billion, a price-to-earnings ratio of -32.23, a PEG ratio of 0.21 and a beta of 1.63. The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 1.60. Allegiant Travel has a 12-month low of $39.80 and a 12-month high of $118.00.

Insiders Place Their Bets

In other news, Chairman Maurice J. Gallagher, Jr. sold 175,000 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $114.23, for a total value of $19,990,250.00. Following the completion of the transaction, the chairman directly owned 1,962,348 shares of the company’s stock, valued at $224,159,012.04. The trade was a 8.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 300,000 shares of company stock worth $34,350,512 over the last ninety days. Company insiders own 14.70% of the company’s stock.

Institutional Trading of Allegiant Travel

A number of large investors have recently made changes to their positions in ALGT. Hantz Financial Services Inc. increased its position in Allegiant Travel by 442.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 542 shares of the transportation company’s stock worth $33,000 after purchasing an additional 442 shares in the last quarter. Signaturefd LLC lifted its holdings in Allegiant Travel by 27.3% in the 4th quarter. Signaturefd LLC now owns 546 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 117 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Allegiant Travel by 28.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 930 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 205 shares in the last quarter. AlphaQuest LLC boosted its stake in shares of Allegiant Travel by 119.2% during the 3rd quarter. AlphaQuest LLC now owns 1,120 shares of the transportation company’s stock worth $68,000 after purchasing an additional 609 shares during the last quarter. Finally, iSAM Funds UK Ltd acquired a new stake in shares of Allegiant Travel during the 3rd quarter worth about $69,000. Institutional investors and hedge funds own 85.81% of the company’s stock.

About Allegiant Travel

Allegiant Travel Company is a holding company that operates Allegiant Air, a low‐cost leisure airline offering scheduled and charter air service. The company focuses on connecting underserved secondary markets with popular vacation destinations across the United States. By targeting price‐sensitive leisure travelers, Allegiant Air operates a point‐to‐point network that avoids the traditional hub‐and‐spoke model, providing non‐stop flights from smaller cities to resort and entertainment hubs.

In addition to its core flight operations, Allegiant Travel Company offers packaged travel services that include hotel accommodations, rental cars and attraction tickets through its online portal.