Allegiant Travel (NASDAQ:ALGT) Stock Price Down 5.5% – Here’s Why

Allegiant Travel Company (NASDAQ:ALGT) shares were down 5.5% on Thursday . The stock traded as low as $102.29 and last traded at $103.67. Approximately 47,679 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 590,469 shares. The stock had previously closed at $109.76.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ALGT. UBS Group upped their price target on shares of Allegiant Travel from $90.00 to $102.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Susquehanna reaffirmed a “positive” rating and issued a $110.00 target price on shares of Allegiant Travel in a report on Friday, February 6th. Wall Street Zen raised Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Sunday, December 28th. Morgan Stanley raised their price target on Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Allegiant Travel in a research note on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $100.18.

Allegiant Travel Trading Down 5.2%

The company has a debt-to-equity ratio of 1.76, a current ratio of 0.98 and a quick ratio of 0.95. The company has a market capitalization of $1.91 billion, a PE ratio of -40.58, a P/E/G ratio of 0.27 and a beta of 1.64. The firm’s 50 day moving average is $92.76 and its 200 day moving average is $74.11.

Insider Activity at Allegiant Travel

In related news, Chairman Maurice J. Gallagher, Jr. sold 175,000 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $114.23, for a total transaction of $19,990,250.00. Following the sale, the chairman owned 1,962,348 shares of the company’s stock, valued at $224,159,012.04. This represents a 8.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 300,000 shares of company stock valued at $34,350,512 over the last quarter. 14.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Allegiant Travel

A number of hedge funds have recently made changes to their positions in ALGT. XTX Topco Ltd acquired a new position in Allegiant Travel during the 4th quarter valued at approximately $1,703,000. Susquehanna Fundamental Investments LLC grew its position in shares of Allegiant Travel by 196.6% during the 4th quarter. Susquehanna Fundamental Investments LLC now owns 29,572 shares of the transportation company’s stock valued at $2,522,000 after acquiring an additional 19,601 shares during the period. Millennium Management LLC increased its position in shares of Allegiant Travel by 0.5% in the fourth quarter. Millennium Management LLC now owns 27,453 shares of the transportation company’s stock valued at $2,341,000 after buying an additional 134 shares in the last quarter. Man Group plc raised its position in Allegiant Travel by 16.0% during the fourth quarter. Man Group plc now owns 29,488 shares of the transportation company’s stock worth $2,514,000 after acquiring an additional 4,065 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new stake in Allegiant Travel in the 4th quarter worth about $16,405,000. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Allegiant Travel Company Profile

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.