Insider Selling: Allegiant Travel (NASDAQ:ALGT) COO Sells 914 Shares of Stock

Allegiant Travel (NASDAQ:ALGT – Get Rating) COO Scott Sheldon sold 914 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $114.77, for a total value of $104,899.78. Following the completion of the sale, the chief operating officer now owns 38,680 shares of the company’s stock, valued at approximately $4,439,303.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Allegiant Travel Price Performance

ALGT opened at $110.25 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.55 and a current ratio of 1.59. Allegiant Travel has a 52-week low of $108.99 and a 52-week high of $215.48. The stock has a market capitalization of $2.00 billion, a PE ratio of 42.90 and a beta of 1.49. The stock’s 50 day moving average price is $121.94 and its 200-day moving average price is $146.61.

Allegiant Travel (NASDAQ:ALGT – Get Rating) last posted its earnings results on Wednesday, August 3rd. The transportation company reported $0.62 earnings per share (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 3.52%. During the same period in the previous year, the firm earned $3.46 EPS. On average, equities research analysts predict that Allegiant Travel will post 2.26 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on ALGT shares. Morgan Stanley dropped their target price on Allegiant Travel from $250.00 to $237.00 and set an “overweight” rating for the company in a research report on Friday, July 8th. Barclays dropped their target price on Allegiant Travel from $220.00 to $180.00 and set an “overweight” rating for the company in a research report on Tuesday, July 12th. Susquehanna Bancshares dropped their target price on Allegiant Travel from $185.00 to $140.00 and set a “positive” rating for the company in a research report on Tuesday, July 12th. Susquehanna dropped their target price on Allegiant Travel from $185.00 to $140.00 and set a “positive” rating for the company in a research report on Tuesday, July 12th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Allegiant Travel from $245.00 to $190.00 in a research report on Thursday. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Allegiant Travel has an average rating of “Moderate Buy” and an average price target of $191.33.

Institutional Investors Weigh In On Allegiant Travel

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALGT. Diamond Hill Capital Management Inc. grew its stake in Allegiant Travel by 27.0% in the first quarter. Diamond Hill Capital Management Inc. now owns 494,380 shares of the transportation company’s stock worth $80,282,000 after purchasing an additional 105,120 shares during the period. U S Global Investors Inc. grew its stake in Allegiant Travel by 18.3% in the first quarter. U S Global Investors Inc. now owns 616,869 shares of the transportation company’s stock worth $100,173,000 after purchasing an additional 95,643 shares during the period. State Street Corp grew its stake in Allegiant Travel by 15.7% in the fourth quarter. State Street Corp now owns 597,143 shares of the transportation company’s stock worth $111,690,000 after purchasing an additional 81,131 shares during the period. Assenagon Asset Management S.A. grew its stake in Allegiant Travel by 291.8% in the second quarter. Assenagon Asset Management S.A. now owns 92,800 shares of the transportation company’s stock worth $10,495,000 after purchasing an additional 69,113 shares during the period. Finally, Millennium Management LLC grew its stake in Allegiant Travel by 85.6% in the fourth quarter. Millennium Management LLC now owns 147,619 shares of the transportation company’s stock worth $27,611,000 after purchasing an additional 68,072 shares during the period. 98.49% of the stock is owned by hedge funds and other institutional investors.

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.