Allegiant Travel (NASDAQ:ALGT – Get Rating) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 588,100 shares, a growth of 9.5% from the August 15th total of 537,000 shares. Based on an average daily volume of 232,800 shares, the days-to-cover ratio is currently 2.5 days. Approximately 3.8% of the company’s shares are sold short.
Analysts Set New Price Targets
ALGT has been the topic of a number of recent research reports. Susquehanna Bancshares dropped their price objective on shares of Allegiant Travel from $185.00 to $140.00 and set a “positive” rating on the stock in a research note on Tuesday, July 12th. Barclays dropped their price objective on shares of Allegiant Travel from $180.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 10th. Melius began coverage on shares of Allegiant Travel in a research report on Monday, August 15th. They set a “hold” rating for the company. Morgan Stanley decreased their target price on shares of Allegiant Travel from $237.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, August 24th. Finally, Wolfe Research cut shares of Allegiant Travel from an “outperform” rating to a “peer perform” rating and set a $116.00 target price for the company. in a research report on Friday, August 12th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $168.60.
Insider Buying and Selling
In related news, EVP Robert Paul Wilson III sold 1,800 shares of the stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $101.15, for a total value of $182,070.00. Following the sale, the executive vice president now directly owns 13,163 shares of the company’s stock, valued at approximately $1,331,437.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Allegiant Travel news, EVP Robert Paul Wilson III sold 1,800 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $101.15, for a total value of $182,070.00. Following the transaction, the executive vice president now directly owns 13,163 shares in the company, valued at approximately $1,331,437.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Scott Sheldon sold 914 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $114.77, for a total transaction of $104,899.78. Following the completion of the transaction, the chief operating officer now owns 38,680 shares in the company, valued at $4,439,303.60. The disclosure for this sale can be found here. Insiders have sold 4,896 shares of company stock valued at $521,593 in the last ninety days. 15.10% of the stock is owned by company insiders.
Institutional Trading of Allegiant Travel
Allegiant Travel Stock Down 5.9 %
ALGT stock opened at $91.07 on Monday. The firm has a market cap of $1.66 billion, a PE ratio of 35.44 and a beta of 1.52. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.49 and a current ratio of 1.53. The firm’s fifty day moving average is $106.53 and its 200 day moving average is $130.67. Allegiant Travel has a one year low of $90.63 and a one year high of $215.48.
Allegiant Travel (NASDAQ:ALGT – Get Rating) last released its quarterly earnings results on Wednesday, August 3rd. The transportation company reported $0.62 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.44). Allegiant Travel had a net margin of 2.23% and a return on equity of 3.51%. During the same quarter last year, the business posted $3.46 EPS. On average, research analysts forecast that Allegiant Travel will post 1.83 EPS for the current year.
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 14, 2022, it operated a fleet of 110 Airbus A320 series aircraft.
- Get a free copy of the StockNews.com research report on Allegiant Travel (ALGT)
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