Allegiant Travel (NASDAQ:ALGT) Shares Gap Up – Time to Buy?

Shares of Allegiant Travel Company (NASDAQ:ALGT) gapped up prior to trading on Tuesday . The stock had previously closed at $74.66, but opened at $78.60. Allegiant Travel shares last traded at $80.2740, with a volume of 119,395 shares trading hands.

Analysts Set New Price Targets

Several research analysts have commented on the stock. UBS Group cut their price target on shares of Allegiant Travel from $102.00 to $90.00 and set a “neutral” rating for the company in a report on Monday. Barclays lifted their price objective on Allegiant Travel from $60.00 to $95.00 and gave the company an “equal weight” rating in a research note on Monday, January 12th. Bank of America raised Allegiant Travel from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $55.00 to $95.00 in a report on Tuesday, January 6th. Wolfe Research upgraded 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 report on Tuesday, January 20th. Finally, Evercore lifted their price target on Allegiant Travel from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $99.09.

Allegiant Travel Stock Up 7.2%

The company has a debt-to-equity ratio of 1.60, a current ratio of 0.95 and a quick ratio of 0.92. The stock’s 50 day simple moving average is $94.93 and its two-hundred day simple moving average is $78.78. The firm has a market cap of $1.48 billion, a P/E ratio of -31.14, a P/E/G ratio of 0.17 and a beta of 1.55.

Insider Buying and Selling

In other Allegiant Travel news, Chairman Maurice J. Gallagher, Jr. sold 861 shares of Allegiant Travel stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $114.00, for a total value of $98,154.00. Following the completion of the sale, the chairman owned 150,000 shares of the company’s stock, valued at approximately $17,100,000. This trade represents a 0.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 300,000 shares of company stock worth $34,350,512. Company insiders own 14.70% of the company’s stock.

Institutional Investors Weigh In On Allegiant Travel

Several institutional investors have recently modified their holdings of the business. Hantz Financial Services Inc. raised its position in Allegiant Travel by 442.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 542 shares of the transportation company’s stock worth $33,000 after buying an additional 442 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Allegiant Travel by 27.3% during the 4th quarter. Signaturefd LLC now owns 546 shares of the transportation company’s stock valued at $47,000 after acquiring an additional 117 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Allegiant Travel by 28.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 930 shares of the transportation company’s stock worth $51,000 after acquiring an additional 205 shares during the period. AlphaQuest LLC grew its stake in shares of Allegiant Travel by 119.2% in the third quarter. AlphaQuest LLC now owns 1,120 shares of the transportation company’s stock worth $68,000 after acquiring an additional 609 shares during the period. Finally, iSAM Funds UK Ltd purchased a new position in shares of Allegiant Travel during the third quarter valued at approximately $69,000. 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.