Allegiant Travel (ALGT) Downgraded to “Hold” at BidaskClub

Allegiant Travel (NASDAQ:ALGT) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Several other analysts also recently commented on ALGT. Stifel Nicolaus raised Allegiant Travel from a “hold” rating to a “buy” rating and raised their price objective for the stock from $150.00 to $200.00 in a research note on Tuesday, January 16th. Cowen reaffirmed a “hold” rating and set a $145.00 price objective on shares of Allegiant Travel in a research note on Tuesday, October 17th. ValuEngine downgraded Allegiant Travel from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Raymond James Financial reaffirmed a “hold” rating on shares of Allegiant Travel in a research note on Monday, December 4th. Finally, Bank of America raised Allegiant Travel from a “neutral” rating to a “buy” rating and set a $145.00 price objective on the stock in a research note on Tuesday, January 9th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $157.09.

Shares of Allegiant Travel (NASDAQ ALGT) traded up $3.80 during trading on Thursday, reaching $160.00. The company had a trading volume of 102,065 shares, compared to its average volume of 156,762. The firm has a market cap of $2,511.37, a P/E ratio of 17.19, a PEG ratio of 2.29 and a beta of 0.16. Allegiant Travel has a twelve month low of $111.54 and a twelve month high of $178.45. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.05 and a quick ratio of 1.01.

In other Allegiant Travel news, CEO Maurice J. Gallagher, Jr. sold 16,018 shares of the stock in a transaction dated Friday, December 28th. The stock was sold at an average price of $155.82, for a total transaction of $2,495,924.76. Following the completion of the transaction, the chief executive officer now owns 3,144,674 shares in the company, valued at approximately $490,003,102.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Maurice J. Gallagher, Jr. sold 182,182 shares of the stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $167.18, for a total value of $30,457,186.76. Following the transaction, the chief executive officer now owns 3,071,196 shares of the company’s stock, valued at approximately $513,442,547.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 288,696 shares of company stock valued at $47,742,513. Corporate insiders own 21.00% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in ALGT. Riverhead Capital Management LLC increased its holdings in Allegiant Travel by 119.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,099 shares of the transportation company’s stock worth $149,000 after purchasing an additional 599 shares in the last quarter. Flinton Capital Management LLC increased its holdings in Allegiant Travel by 81.8% during the 2nd quarter. Flinton Capital Management LLC now owns 1,120 shares of the transportation company’s stock worth $152,000 after purchasing an additional 504 shares in the last quarter. D.A. Davidson & CO. increased its holdings in Allegiant Travel by 2.0% during the 2nd quarter. D.A. Davidson & CO. now owns 1,176 shares of the transportation company’s stock worth $159,000 after purchasing an additional 23 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in Allegiant Travel by 47.0% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,258 shares of the transportation company’s stock worth $166,000 after purchasing an additional 402 shares in the last quarter. Finally, Pinebridge Investments L.P. increased its holdings in Allegiant Travel by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 1,733 shares of the transportation company’s stock worth $235,000 after purchasing an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 85.93% of the company’s stock.

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Allegiant Travel Company Profile

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.

Analyst Recommendations for Allegiant Travel (NASDAQ:ALGT)

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