Allegiant Travel (NASDAQ:ALGT) Rating Lowered to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded Allegiant Travel from a "strong-buy" to a hold; the stock carries a consensus analyst rating of Hold with a consensus target price of $97.91 amid mixed views (5 Buys, 7 Holds, 1 Sell).
• Insider sale: Chairman Maurice J. Gallagher Jr. sold 175,000 shares for about $19.99 million in February, part of insider sales totaling 300,000 shares (~$34.35M) last quarter; insiders now own 14.70% of the company.
• Shares opened at $82.83 and sit in a 12‑month range of $39.80–$118.00, with a market value of $1.53 billion and a negative P/E of -32.23, reflecting current unprofitability.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Wednesday,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. Evercore upped their price target on Allegiant Travel from $120.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, February 5th. Citigroup reduced their price objective on Allegiant Travel from $114.00 to $98.00 and set a "neutral" rating for the company in a research note on Friday, March 20th. Wall Street Zen upgraded Allegiant Travel from a "sell" rating to a "hold" rating in a report on Sunday, December 28th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Allegiant Travel in a report on Wednesday, January 21st. Finally, UBS Group increased their price target on Allegiant Travel from $90.00 to $93.00 and gave the company a "neutral" rating in a research report on Monday, March 23rd. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $97.91.

Allegiant Travel Stock Down 0.3%

NASDAQ ALGT opened at $82.83 on Wednesday. Allegiant Travel has a 12 month low of $39.80 and a 12 month high of $118.00. The company has a market capitalization of $1.53 billion, a P/E ratio of -32.23, a PEG ratio of 0.21 and a beta of 1.63. The company's 50 day simple moving average is $92.49 and its 200 day simple moving average is $80.12. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.95 and a quick ratio of 0.92.

Insider Buying and Selling at Allegiant Travel

In related news, Chairman Maurice J. Gallagher, Jr. sold 175,000 shares of the company's stock in a transaction on Friday, February 6th. The stock was sold at an average price of $114.23, for a total transaction of $19,990,250.00. Following the transaction, the chairman directly owned 1,962,348 shares of the company's stock, valued at approximately $224,159,012.04. The trade was a 8.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 300,000 shares of company stock worth $34,350,512 in the last quarter. Insiders own 14.70% of the company's stock.

Hedge Funds Weigh In On Allegiant Travel

Institutional investors and hedge funds have recently bought and sold shares of the business. Heartland Advisors Inc. acquired a new position in shares of Allegiant Travel in the 3rd quarter valued at about $12,747,000. Balyasny Asset Management L.P. acquired a new stake in shares of Allegiant Travel during the fourth quarter worth approximately $16,405,000. Donald Smith & CO. Inc. grew its position in Allegiant Travel by 11.6% during the second quarter. Donald Smith & CO. Inc. now owns 1,506,633 shares of the transportation company's stock valued at $82,789,000 after purchasing an additional 156,186 shares in the last quarter. Apollo Management Holdings L.P. purchased a new position in Allegiant Travel during the second quarter valued at approximately $6,124,000. Finally, Jump Financial LLC increased its stake in Allegiant Travel by 195.5% in the 2nd quarter. Jump Financial LLC now owns 127,800 shares of the transportation company's stock valued at $7,023,000 after buying an additional 84,555 shares during the period. Hedge funds and other institutional investors own 85.81% of the company's stock.

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.

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