Allegiant Travel (NASDAQ:ALGT) Short Interest Update

Allegiant Travel (NASDAQ:ALGTGet 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ExodusPoint Capital Management LP acquired a new stake in shares of Allegiant Travel in the second quarter valued at about $256,000. Walleye Capital LLC acquired a new stake in shares of Allegiant Travel in the second quarter valued at about $951,000. Captrust Financial Advisors grew its position in shares of Allegiant Travel by 20.7% in the second quarter. Captrust Financial Advisors now owns 980 shares of the transportation company’s stock valued at $111,000 after purchasing an additional 168 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Allegiant Travel by 20.9% in the second quarter. Thrivent Financial for Lutherans now owns 14,952 shares of the transportation company’s stock valued at $1,691,000 after purchasing an additional 2,583 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Allegiant Travel by 220.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,330,668 shares of the transportation company’s stock valued at $150,485,000 after purchasing an additional 915,511 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

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:ALGTGet 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

(Get Rating)

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.

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