Allegiant Travel Company (NASDAQ:ALGT) Sees Significant Increase in Short Interest

Allegiant Travel Company (NASDAQ:ALGT) saw a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 1,854,477 shares, a growth of 35.5% from the December 31st total of 1,368,228 shares. Currently, 11.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 597,259 shares, the days-to-cover ratio is presently 3.1 days. Based on an average daily trading volume, of 597,259 shares, the days-to-cover ratio is presently 3.1 days. Currently, 11.9% of the shares of the stock are short sold.

Allegiant Travel Trading Down 3.1%

Shares of ALGT stock opened at $88.63 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.95 and a debt-to-equity ratio of 1.76. Allegiant Travel has a 12-month low of $39.80 and a 12-month high of $107.57. The stock has a market capitalization of $1.62 billion, a P/E ratio of -5.44, a P/E/G ratio of 0.25 and a beta of 1.64. The firm’s 50 day moving average is $85.19 and its 200 day moving average is $69.05.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Tuesday, November 4th. The transportation company reported ($2.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.84) by ($0.25). Allegiant Travel had a negative net margin of 11.36% and a positive return on equity of 5.24%. The firm had revenue of $561.93 million during the quarter, compared to the consensus estimate of $575.13 million. During the same period in the prior year, the company posted ($2.02) EPS. The firm’s revenue was down .1% compared to the same quarter last year. Allegiant Travel has set its FY 2025 guidance at 3.000- EPS and its Q4 2025 guidance at 1.500-2.500 EPS. Research analysts expect that Allegiant Travel will post 7.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Zacks Research upgraded shares of Allegiant Travel from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 2nd. Morgan Stanley boosted their target price on Allegiant Travel from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Allegiant Travel in a research report on Wednesday, January 21st. Raymond James Financial cut Allegiant Travel from a “strong-buy” rating to an “outperform” rating and upped their price target for the stock from $78.00 to $98.00 in a research note on Friday, December 19th. Finally, Wolfe Research raised shares of Allegiant Travel from a “peer perform” rating to an “outperform” rating and set a $108.00 target price for the company in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $92.73.

Institutional Trading of Allegiant Travel

A number of hedge funds and other institutional investors have recently modified their holdings of ALGT. Vanguard Group Inc. increased its stake in Allegiant Travel by 4.1% in the 3rd quarter. Vanguard Group Inc. now owns 1,677,608 shares of the transportation company’s stock worth $101,948,000 after buying an additional 66,596 shares in the last quarter. Donald Smith & CO. Inc. grew its holdings in shares of Allegiant Travel by 11.6% in the second quarter. Donald Smith & CO. Inc. now owns 1,506,633 shares of the transportation company’s stock valued at $82,789,000 after purchasing an additional 156,186 shares in the last quarter. American Century Companies Inc. grew its position in Allegiant Travel by 5.7% in the third quarter. American Century Companies Inc. now owns 688,322 shares of the transportation company’s stock worth $41,829,000 after acquiring an additional 37,205 shares in the last quarter. Par Capital Management Inc. boosted its stake in Allegiant Travel by 11.1% during the second quarter. Par Capital Management Inc. now owns 584,996 shares of the transportation company’s stock worth $32,146,000 after buying an additional 58,566 shares during the period. Finally, Franklin Resources Inc. lifted its stake in Allegiant Travel by 15.4% in the third quarter. Franklin Resources Inc. now owns 549,287 shares of the transportation company’s stock worth $33,380,000 after purchasing an additional 73,360 shares during the last quarter. 85.81% of the stock is owned by hedge funds and other institutional investors.

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.