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Allegiant Travel (NASDAQ:ALGT – Get Rating) saw a large decline in short interest in the month of January. As of January 15th, there was short interest totalling 574,100 shares, a decline of 29.0% from the December 31st total of 808,700 shares. Approximately 3.7% of the company’s shares are sold short. Based on an average daily volume of 231,600 shares, the short-interest ratio is presently 2.5 days.
Insider Activity at Allegiant Travel
In related news, CMO Scott Wayne Deangelo sold 1,250 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $69.37, for a total transaction of $86,712.50. Following the transaction, the chief marketing officer now owns 15,106 shares in the company, valued at approximately $1,047,903.22. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 15.10% of the stock is owned by company insiders.
Hedge Funds Weigh In On Allegiant Travel
A number of hedge funds have recently added to or reduced their stakes in ALGT. Harbor Investment Advisory LLC raised its holdings in Allegiant Travel by 61.6% in the 3rd quarter. Harbor Investment Advisory LLC now owns 509 shares of the transportation company’s stock worth $37,000 after acquiring an additional 194 shares during the last quarter. CWM LLC raised its stake in Allegiant Travel by 310.2% during the 3rd quarter. CWM LLC now owns 525 shares of the transportation company’s stock valued at $38,000 after buying an additional 397 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Allegiant Travel by 770.1% during the 3rd quarter. Quadrant Capital Group LLC now owns 757 shares of the transportation company’s stock valued at $55,000 after buying an additional 670 shares during the last quarter. Strs Ohio purchased a new stake in Allegiant Travel during the 2nd quarter valued at $56,000. Finally, Captrust Financial Advisors raised its stake in Allegiant Travel by 20.7% during the 2nd quarter. Captrust Financial Advisors now owns 980 shares of the transportation company’s stock valued at $111,000 after buying an additional 168 shares during the last quarter. 85.77% of the stock is currently owned by hedge funds and other institutional investors.
Allegiant Travel Price Performance
Shares of NASDAQ ALGT opened at $84.26 on Friday. Allegiant Travel has a twelve month low of $62.94 and a twelve month high of $186.86. The firm has a market cap of $1.55 billion, a P/E ratio of -38.47 and a beta of 1.56. The company has a 50 day moving average of $75.35 and a 200 day moving average of $85.97. The company has a quick ratio of 1.27, a current ratio of 1.32 and a debt-to-equity ratio of 1.55.
Allegiant Travel (NASDAQ:ALGT – Get Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The transportation company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.07). Allegiant Travel had a positive return on equity of 1.68% and a negative net margin of 1.80%. The firm had revenue of $560.33 million during the quarter, compared to analysts’ expectations of $556.65 million. As a group, research analysts expect that Allegiant Travel will post 0.77 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
ALGT has been the topic of a number of research analyst reports. Cowen downgraded Allegiant Travel from an “outperform” rating to a “market perform” rating and set a $80.00 price target on the stock. in a report on Thursday, December 15th. Cowen cut Allegiant Travel from an “outperform” rating to a “market perform” rating and set a $80.00 price objective on the stock. in a research report on Thursday, December 15th. Morgan Stanley cut Allegiant Travel from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $175.00 to $115.00 in a research report on Monday, December 5th. Susquehanna Bancshares cut their price objective on Allegiant Travel from $140.00 to $110.00 in a research report on Tuesday, October 11th. Finally, Susquehanna cut Allegiant Travel from a “positive” rating to a “neutral” rating and set a $90.00 price objective on the stock. in a research report on Wednesday, January 11th. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $102.33.
About Allegiant Travel
Allegiant Travel Co engages in the provision of travel services. It includes scheduled service air transportation, air-related travel services and product, third party travel products, and fixed fee contract air transportation. It operates through the following segments: Airline, Sunseeker Resort, and Other non-Airline.
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