Allegiant Travel (NASDAQ:ALGT) Chairman Sells $19,990,250.00 in Stock

Allegiant Travel Company (NASDAQ:ALGT) Chairman Maurice Gallagher, Jr. sold 175,000 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $114.23, for a total transaction of $19,990,250.00. Following the transaction, the chairman directly owned 1,962,348 shares in the company, valued at approximately $224,159,012.04. The trade was a 8.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Allegiant Travel Stock Down 0.0%

ALGT opened at $109.28 on Friday. Allegiant Travel Company has a twelve month low of $39.80 and a twelve month high of $118.00. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 1.76. The company has a 50-day moving average price of $90.43 and a 200 day moving average price of $72.25. The company has a market cap of $2.00 billion, a PE ratio of -42.52, a price-to-earnings-growth ratio of 0.25 and a beta of 1.64.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ALGT. Citigroup increased their price objective on Allegiant Travel from $109.00 to $114.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Allegiant Travel from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a research report on Friday, December 12th. Barclays boosted their price target on shares of Allegiant Travel from $60.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Monday, January 12th. Zacks Research downgraded shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Finally, Wolfe Research raised shares of Allegiant Travel from a “peer perform” rating to an “outperform” rating and set a $108.00 target price on the stock in a research note on Tuesday, January 20th. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Allegiant Travel currently has an average rating of “Hold” and a consensus price target of $100.18.

Institutional Trading of Allegiant Travel

Several hedge funds have recently made changes to their positions in ALGT. Hantz Financial Services Inc. raised its position in shares of Allegiant Travel by 442.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 542 shares of the transportation company’s stock valued at $33,000 after buying an additional 442 shares during the period. Signaturefd LLC raised its position in Allegiant Travel by 27.3% in the fourth quarter. Signaturefd LLC now owns 546 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 117 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in shares of 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 during the last quarter. AlphaQuest LLC lifted its stake in shares of Allegiant Travel by 119.2% in the 3rd quarter. AlphaQuest LLC now owns 1,120 shares of the transportation company’s stock valued at $68,000 after purchasing an additional 609 shares during the last quarter. Finally, iSAM Funds UK Ltd purchased a new position in shares of Allegiant Travel during the 3rd quarter worth $69,000. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Allegiant Travel Company Profile

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.