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Allegiant Travel (NASDAQ:ALGT) Short Interest Update

Defense World · Sep 19, 2022 03:51

Allegiant Travel (NASDAQ:ALGT – Get Rating) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 588,100 shares, a growth of 9.5% from the August 15th total of 537,000 shares. Based on an average daily trading volume, of 232,800 shares, the short-interest ratio is currently 2.5 days. Approximately 3.8% of the company's shares are sold short.

Wall Street Analysts Forecast Growth

ALGT has been the topic of a number of research reports. Raymond James raised Allegiant Travel from a "market perform" rating to an "outperform" rating and set a $150.00 price target on the stock in a research note on Thursday, September 8th. StockNews.com raised Allegiant Travel from a "sell" rating to a "hold" rating in a research note on Tuesday, September 6th. Deutsche Bank Aktiengesellschaft lowered their price objective on Allegiant Travel from $245.00 to $190.00 in a research note on Thursday, August 4th. Evercore ISI lowered their price objective on Allegiant Travel from $175.00 to $150.00 and set an "in-line" rating for the company in a research note on Monday, June 27th. Finally, Wolfe Research downgraded Allegiant Travel from an "outperform" rating to a "peer perform" rating and set a $116.00 price objective for the company. in a research note on Friday, August 12th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Allegiant Travel presently has an average rating of "Moderate Buy" and a consensus target price of $168.60.

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Allegiant Travel Price Performance

Shares of NASDAQ ALGT opened at $91.07 on Monday. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 35.44 and a beta of 1.52. The stock has a fifty day simple moving average of $106.53 and a two-hundred day simple moving average of $130.67. Allegiant Travel has a 1-year low of $90.63 and a 1-year high of $215.48. The company has a current ratio of 1.53, a quick ratio of 1.49 and a debt-to-equity ratio of 1.46.

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 return on equity of 3.51% and a net margin of 2.23%. During the same period in the previous year, the company posted $3.46 EPS. Analysts anticipate that Allegiant Travel will post 1.83 earnings per share for the current year.

Insider Buying and Selling at Allegiant Travel

In other news, CMO Scott Wayne Deangelo sold 500 shares of the business's stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $112.89, for a total value of $56,445.00. Following the transaction, the chief marketing officer now directly owns 8,035 shares of the company's stock, valued at approximately $907,071.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CMO Scott Wayne Deangelo sold 500 shares of the business's stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $112.89, for a total value of $56,445.00. Following the transaction, the chief marketing officer now directly owns 8,035 shares of the company's stock, valued at approximately $907,071.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Paul Wilson III sold 446 shares of the business's stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $96.73, for a total value of $43,141.58. Following the completion of the transaction, the executive vice president now directly owns 23,961 shares in the company, valued at $2,317,747.53. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,896 shares of company stock worth $521,593. Insiders own 15.10% of the company's stock.

Institutional Investors Weigh In On Allegiant Travel

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Allegiant Travel by 0.4% in the first quarter. BlackRock Inc. now owns 2,355,920 shares of the transportation company's stock worth $382,578,000 after buying an additional 8,810 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Allegiant Travel by 1.7% in the first quarter. Vanguard Group Inc. now owns 1,649,252 shares of the transportation company's stock worth $267,823,000 after buying an additional 26,815 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Allegiant Travel by 220.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,330,668 shares of the transportation company's stock worth $150,485,000 after buying an additional 915,511 shares in the last quarter. State Street Corp raised its position in shares of Allegiant Travel by 7.7% in the first quarter. State Street Corp now owns 643,363 shares of the transportation company's stock worth $104,476,000 after buying an additional 46,220 shares in the last quarter. Finally, U S Global Investors Inc. raised its position in Allegiant Travel by 18.3% during the first quarter. U S Global Investors Inc. now owns 616,869 shares of the transportation company's stock valued at $100,173,000 after purchasing an additional 95,643 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

About Allegiant Travel

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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.