Allegiant Travel (NASDAQ:ALGT) Brief Interest Update

Allegiant Travel (NASDAQ:ALGT – Get Rating) benefited from strong growth in short-term interest during August. As of August 31, there was short interest totaling 588,100 shares, a growth of 9.5% from the total of 537,000 shares as of August 15. Based on an average daily trading volume of 232,800 shares, the short interest ratio 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 several research reports. Raymond James upgraded Allegiant Travel from a “market performer” rating to an “outperformer” rating and set a $150.00 price target for the stock in a Thursday, September 8 research note. StockNews.com upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a Tuesday, September 6 research note. Deutsche Bank Aktiengesellschaft lowered its price target on Allegiant Travel from $245.00 to $190.00 in a Thursday, August 4 research note. Evercore ISI lowered its price target on Allegiant Travel from $175.00 to $150.00 and established an “in-line” rating for the company in a Monday, June 27 research note. Finally, Wolfe Research downgraded Allegiant Travel from an “outperform” rating to a “peer performer” rating and set a price target of $116.00 for the company. in a research note on Friday, August 12. Five investment analysts gave the stock a hold rating and seven gave the company a buy rating. According to MarketBeat.com, Allegiant Travel currently has an average rating of “Moderate Buy” and a consensus target price of $168.60.

Allegiant Travel Price Performance

Shares of NASDAQ ALGT opened at $91.07 on Monday. The company has a market capitalization of $1.66 billion, a price-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 minimum of $90.63 and a 1 year maximum of $215.48. The company has a current ratio of 1.53, a quick ratio of 1.49 and a debt ratio of 1.46.

Allegiant Travel (NASDAQ:ALGT – Get Rating) last reported results on Wednesday, August 3. The transportation company reported earnings per share (EPS) of $0.62 for the quarter, missing the consensus estimate of $1.06 per ($0.44). Allegiant Travel achieved a return on equity of 3.51% and a net margin of 2.23%. During the same period a year earlier, the company posted EPS of $3.46. Analysts expect Allegiant Travel to post earnings per share of 1.83 for the current year.

Insider Buying and Selling at Allegiant Travel

Separately, CMO Scott Wayne Deangelo sold 500 shares of the company in a trade dated Friday, July 1. The stock was sold at an average price of $112.89, for a total value of $56,445.00. As a result of the transaction, the chief marketing officer now directly owns 8,035 shares of the company, valued at approximately $907,071.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC’s website. Separately, CMO Scott Wayne Deangelo sold 500 shares of the company in a trade dated Friday, July 1. The stock was sold at an average price of $112.89, for a total value of $56,445.00. As a result of the transaction, the chief marketing officer now directly owns 8,035 shares of the company, valued at approximately $907,071.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, Executive Vice Chairman Robert Paul Wilson III sold 446 shares of the company in a trade dated Wednesday, September 7. The shares were sold at an average price of $96.73, for a total value of $43,141.58. Following completion of the transaction, the executive vice president now directly owns 23,961 shares of the company, valued at $2,317,747.53. The disclosure of this sale can be found here. During the last quarter, insiders sold 4,896 shares of the company worth $521,593. Insiders hold 15.10% of the shares of the company.

Institutional investors weigh in on Allegiant Travel

Institutional investors have recently changed their positions in the stock. BlackRock Inc. raised its position in Allegiant Travel shares by 0.4% in the first quarter. BlackRock Inc. now owns 2,355,920 shares of the transportation company worth $382,578,000 after buying 8,810 additional shares last quarter. Vanguard Group Inc. raised its position in Allegiant Travel shares by 1.7% in the first quarter. Vanguard Group Inc. now owns 1,649,252 shares of the transportation company worth $267,823,000 after buying 26,815 additional shares last quarter. Price T Rowe Associates Inc. MD increased its position in Allegiant Travel shares by 220.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,330,668 shares of the transportation company worth $150,485,000 after buying 915,511 additional shares last quarter. State Street Corp raised its position in Allegiant Travel shares 7.7% in the first quarter. State Street Corp now owns 643,363 shares of the transportation company worth $104,476,000 after buying an additional 46,220 shares last quarter. Finally, US Global Investors Inc. increased 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 valued at $100,173,000 after buying an additional 95,643 shares last quarter. Hedge funds and other institutional investors own 87.18% of the company’s shares.

About Allegiant Travel

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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 travel on limited-frequency nonstop flights between underserved cities and leisure destinations. As of February 14, 2022, it operated a fleet of 110 Airbus A320 series aircraft.

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