Allegiant Travel (NASDAQ:ALGT) Stock Price Down 9.9% – What’s Next?

Allegiant Travel Company (NASDAQ:ALGT) shares were down 9.9% on Thursday . The stock traded as low as $82.34 and last traded at $82.98. Approximately 390,437 shares traded hands during trading, a decline of 31% from the average daily volume of 561,877 shares. The stock had previously closed at $92.09.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ALGT shares. Morgan Stanley upped their price target on shares of Allegiant Travel from $85.00 to $100.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. UBS Group upped their target price on shares of Allegiant Travel from $90.00 to $102.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Evercore boosted their target price on shares of Allegiant Travel from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Allegiant Travel in a research note on Wednesday, January 21st. Finally, Citigroup lifted their price objective on shares of Allegiant Travel from $109.00 to $114.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Allegiant Travel presently has an average rating of “Hold” and an average price target of $100.18.

Allegiant Travel Stock Down 8.7%

The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 1.60. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -32.72, a PEG ratio of 0.21 and a beta of 1.56. The firm’s 50 day simple moving average is $95.99 and its two-hundred day simple moving average is $77.49.

Insider Buying and Selling

In related news, Chairman Maurice J. Gallagher, Jr. sold 861 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $114.00, for a total transaction of $98,154.00. Following the completion of the transaction, the chairman directly owned 150,000 shares of the company’s stock, valued at $17,100,000. This trade represents a 0.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 300,000 shares of company stock worth $34,350,512. 14.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Allegiant Travel

A number of institutional investors and hedge funds have recently made changes to their positions in ALGT. Vanguard Group Inc. raised its stake in shares of Allegiant Travel by 4.1% in the third quarter. Vanguard Group Inc. now owns 1,677,608 shares of the transportation company’s stock worth $101,948,000 after purchasing an additional 66,596 shares during the last quarter. Donald Smith & CO. Inc. raised its stake 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 buying an additional 156,186 shares during the period. Dimensional Fund Advisors LP boosted its position in Allegiant Travel by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 828,012 shares of the transportation company’s stock worth $70,607,000 after purchasing an additional 7,228 shares during the period. American Century Companies Inc. grew its stake in Allegiant Travel by 5.7% in the 3rd quarter. American Century Companies Inc. now owns 688,322 shares of the transportation company’s stock valued at $41,829,000 after buying an additional 37,205 shares in the last quarter. Finally, Par Capital Management Inc. boosted its stake in Allegiant Travel by 11.1% in the 2nd quarter. Par Capital Management Inc. now owns 584,996 shares of the transportation company’s stock worth $32,146,000 after purchasing an additional 58,566 shares during the period. Institutional investors own 85.81% of the company’s stock.

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.