Insider Selling: Allegiant Travel (NASDAQ:ALGT) Chairman Sells $2,129,294.64 in Stock

Allegiant Travel Company (NASDAQ:ALGT) Chairman Maurice Gallagher, Jr. sold 18,757 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $113.52, for a total value of $2,129,294.64. Following the completion of the transaction, the chairman directly owned 1,887,348 shares in the company, valued at $214,251,744.96. This represents a 0.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Allegiant Travel Stock Performance

ALGT opened at $109.28 on Friday. 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 firm has a market cap of $2.00 billion, a PE ratio of -42.52, a P/E/G ratio of 0.25 and a beta of 1.64. The business has a fifty day simple moving average of $90.43 and a 200-day simple moving average of $72.25. Allegiant Travel Company has a fifty-two week low of $39.80 and a fifty-two week high of $118.00.

Institutional Investors Weigh In On Allegiant Travel

A number of institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. raised its holdings in Allegiant Travel by 12.9% during the second quarter. Federated Hermes Inc. now owns 215,531 shares of the transportation company’s stock valued at $11,843,000 after buying an additional 24,557 shares in the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of Allegiant Travel during the 2nd quarter valued at about $205,000. Apollo Management Holdings L.P. bought a new position in shares of Allegiant Travel in the 2nd quarter valued at approximately $6,124,000. Jump Financial LLC lifted its holdings in Allegiant Travel by 195.5% in the 2nd quarter. Jump Financial LLC now owns 127,800 shares of the transportation company’s stock worth $7,023,000 after purchasing an additional 84,555 shares during the last quarter. Finally, Bayforest Capital Ltd boosted its position in Allegiant Travel by 38.7% during the second quarter. Bayforest Capital Ltd now owns 15,714 shares of the transportation company’s stock worth $863,000 after purchasing an additional 4,381 shares during the period. Institutional investors and hedge funds own 85.81% of the company’s stock.

Analysts Set New Price Targets

ALGT has been the subject of a number of analyst reports. UBS Group upped their price objective on shares of Allegiant Travel from $90.00 to $102.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Evercore upped their price target on shares of Allegiant Travel from $120.00 to $125.00 and gave the company an “outperform” rating in a research report 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 price objective on the stock in a research report on Friday, December 12th. Raymond James Financial downgraded shares of Allegiant Travel from a “strong-buy” rating to an “outperform” rating and boosted their target price for the company from $78.00 to $98.00 in a research note on Friday, December 19th. Finally, Wolfe Research raised Allegiant Travel from a “peer perform” rating to an “outperform” rating and set a $108.00 target price for the company in a research report on Tuesday, January 20th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $100.18.

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.