Allegiant Travel (NASDAQ:ALGT) Shares Gap Down – Should You Sell?

Allegiant Travel (NASDAQ:ALGT) shares gapped down before the market opened on Tuesday . The stock had previously closed at $74.20, but opened at $71.70. Allegiant Travel shares last traded at $71.67, with a volume of 20,577 shares traded.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Susquehanna lifted their price objective on Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. TD Cowen boosted their price target on Allegiant Travel from $42.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. The Goldman Sachs Group restated a “neutral” rating and issued a $83.00 price objective on shares of Allegiant Travel in a report on Friday. Wolfe Research lowered shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Finally, Barclays raised their price target on shares of Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $70.11.

Allegiant Travel Stock Down 3.6 %

The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -48.00, a PEG ratio of 6.42 and a beta of 1.61. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The business has a fifty day moving average of $58.60 and a 200 day moving average of $51.96.

Insider Activity

In related news, Director Gary Ellmer sold 1,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the transaction, the director now owns 7,490 shares of the company’s stock, valued at approximately $337,050. This trade represents a 11.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Keny Frank Wilper sold 635 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total value of $39,808.15. Following the completion of the sale, the chief operating officer now directly owns 16,353 shares in the company, valued at approximately $1,025,169.57. The trade was a 3.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,931 shares of company stock valued at $101,372 in the last quarter. Insiders own 15.80% of the company’s stock.

Institutional Trading of Allegiant Travel

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Signaturefd LLC increased its position in shares of Allegiant Travel by 149.2% during the third quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after acquiring an additional 273 shares during the period. Nisa Investment Advisors LLC increased its holdings in Allegiant Travel by 136.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock worth $29,000 after purchasing an additional 304 shares during the period. Innealta Capital LLC acquired a new stake in Allegiant Travel in the 2nd quarter valued at about $34,000. NBC Securities Inc. boosted its stake in shares of Allegiant Travel by 2,827.9% in the 3rd quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock valued at $69,000 after buying an additional 1,216 shares during the period. Finally, CWM LLC grew its position in shares of Allegiant Travel by 275.1% during the second quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock worth $64,000 after buying an additional 930 shares in the last quarter. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

About Allegiant Travel

Allegiant Travel Company, a leisure travel company, provides travel services and products to residents of under-served cities in the United States. The company offers scheduled air transportation on limited-frequency, nonstop flights between under-served cities and leisure destinations. As of February 1, 2024, it operated a fleet of 126 Airbus A320 series aircraft.