Allegiant Travel (NASDAQ:ALGT) Short Interest Down 17.3% in October

Allegiant Travel (NASDAQ:ALGT) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 1,530,000 shares, a decrease of 17.3% from the October 15th total of 1,850,000 shares. Based on an average daily volume of 411,700 shares, the days-to-cover ratio is currently 3.7 days. Approximately 10.0% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Several research analysts have commented on ALGT shares. The Goldman Sachs Group reissued a “neutral” rating and set a $83.00 target price on shares of Allegiant Travel in a research note on Friday. TD Cowen increased their price objective on shares of Allegiant Travel from $42.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Wolfe Research downgraded shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Barclays raised their price objective on Allegiant Travel from $50.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Susquehanna boosted their target price on shares of Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $70.11.

Allegiant Travel Stock Performance

Shares of ALGT stock opened at $77.69 on Friday. The firm has a market capitalization of $1.43 billion, a PE ratio of -51.79, a price-to-earnings-growth ratio of 5.92 and a beta of 1.61. The firm has a fifty day simple moving average of $57.95 and a two-hundred day simple moving average of $51.85. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $85.91. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36.

Insider Transactions at Allegiant Travel

In other news, Director Gary Ellmer sold 1,000 shares of Allegiant Travel stock in a transaction on Monday, August 26th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the transaction, the director now owns 7,490 shares in the company, valued at approximately $337,050. This trade represents a 11.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Keny Frank Wilper sold 635 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total value of $39,808.15. Following the sale, the chief operating officer now owns 16,353 shares of the company’s stock, valued at approximately $1,025,169.57. This represents a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,334 shares of company stock valued at $117,158. 15.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Allegiant Travel

A number of institutional investors and hedge funds have recently made changes to their positions in the business. ProShare Advisors LLC raised its stake in shares of Allegiant Travel by 6.9% in the first quarter. ProShare Advisors LLC now owns 3,155 shares of the transportation company’s stock worth $237,000 after purchasing an additional 203 shares during the last quarter. Signaturefd LLC grew its stake in shares of Allegiant Travel by 149.2% in the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after acquiring an additional 273 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Allegiant Travel by 136.9% during the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 304 shares in the last quarter. Privium Fund Management UK Ltd grew its position in Allegiant Travel by 3.5% in the 3rd quarter. Privium Fund Management UK Ltd now owns 10,549 shares of the transportation company’s stock worth $581,000 after purchasing an additional 358 shares in the last quarter. Finally, SeaCrest Wealth Management LLC increased its stake in Allegiant Travel by 8.1% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 6,010 shares of the transportation company’s stock valued at $331,000 after buying an additional 450 shares during the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

Allegiant Travel Company Profile

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 1, 2024, it operated a fleet of 126 Airbus A320 series aircraft.