Allegiant Travel (NASDAQ:ALGT) Short Interest Update

by · The Cerbat Gem

Allegiant Travel (NASDAQ:ALGT – Get Free Report) saw a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 1,700,000 shares, a decrease of 12.8% from the September 15th total of 1,950,000 shares. Based on an average daily trading volume, of 428,700 shares, the days-to-cover ratio is presently 4.0 days. Currently, 11.1% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Susquehanna increased their price target on Allegiant Travel from $40.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Morgan Stanley reduced their target price on shares of Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. TD Cowen increased their price objective on shares of Allegiant Travel from $33.00 to $42.00 and gave the company a “hold” rating in a research report on Thursday, October 3rd. Barclays decreased their price objective on shares of Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft lowered Allegiant Travel from a “buy” rating to a “hold” rating and dropped their target price for the company from $75.00 to $53.00 in a report on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $63.13.

View Our Latest Stock Analysis on ALGT

Allegiant Travel Price Performance

Allegiant Travel stock opened at $58.37 on Monday. The stock has a market capitalization of $1.07 billion, a P/E ratio of -65.58, a P/E/G ratio of 3.11 and a beta of 1.65. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $85.91. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.74 and a quick ratio of 0.71. The firm’s 50-day moving average is $44.93 and its two-hundred day moving average is $51.15.

Allegiant Travel (NASDAQ:ALGT – Get Free Report) last issued its earnings results on Wednesday, July 31st. The transportation company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.93. Allegiant Travel had a positive return on equity of 3.48% and a negative net margin of 0.57%. The business had revenue of $666.28 million for the quarter, compared to analyst estimates of $657.74 million. During the same period last year, the company posted $4.35 EPS. The business’s quarterly revenue was down 2.6% on a year-over-year basis. Equities analysts predict that Allegiant Travel will post 1.47 earnings per share for the current year.

Insider Buying and Selling at Allegiant Travel

In related news, Director Gary Ellmer sold 1,000 shares of Allegiant Travel stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the sale, the director now owns 7,490 shares in the company, valued at approximately $337,050. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 1,699 shares of company stock valued at $77,350 over the last 90 days. 15.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in shares of Allegiant Travel in the second quarter valued at approximately $34,000. CWM LLC lifted its position in Allegiant Travel by 275.1% in the second quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock worth $64,000 after purchasing an additional 930 shares during the period. Headlands Technologies LLC boosted its stake in Allegiant Travel by 170.6% during the 2nd quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock valued at $127,000 after purchasing an additional 1,590 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Allegiant Travel during the 1st quarter valued at $141,000. Finally, ProShare Advisors LLC lifted its holdings 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 valued at $237,000 after buying an additional 203 shares during the period. Institutional investors own 85.81% of the company’s stock.

About Allegiant Travel

(Get Free Report)

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.

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