Allegiant Travel (NASDAQ:ALGT) Shares Down 3.9% - Should You Sell?

Allegiant Travel (NASDAQ:ALGT - Get Free Report) dropped 3.9% during trading on Wednesday . The stock traded as low as $56.28 and last traded at $55.80. Approximately 52,191 shares changed hands during trading, a decline of 88% from the average daily volume of 427,897 shares. The stock had previously closed at $58.05.

Wall Street Analyst Weigh In

ALGT has been the subject of a number of recent analyst reports. UBS Group boosted their target price on shares of Allegiant Travel from $45.00 to $60.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Morgan Stanley reduced their target price on shares of Allegiant Travel from $93.00 to $85.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. TD Cowen upped their price objective on shares of Allegiant Travel from $35.00 to $50.00 and gave the company a "hold" rating in a report on Monday, May 12th. Susquehanna dropped their target price on Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Finally, Bank of America dropped their target price on Allegiant Travel from $95.00 to $50.00 and set an "underperform" rating on the stock in a research report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Allegiant Travel has an average rating of "Hold" and a consensus price target of $63.70.

Allegiant Travel Stock Down 4.9%

The business has a 50-day moving average price of $51.26 and a 200-day moving average price of $70.11. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. The stock has a market cap of $931.92 million, a PE ratio of -3.82 and a beta of 1.74.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The transportation company reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.27. The company had revenue of $699.07 million for the quarter, compared to analyst estimates of $700.00 million. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. The firm's revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 EPS. As a group, analysts forecast that Allegiant Travel will post 7.7 earnings per share for the current year.

Institutional Trading of Allegiant Travel

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC increased its position in shares of Allegiant Travel by 489.1% during the 1st quarter. Farther Finance Advisors LLC now owns 542 shares of the transportation company's stock worth $28,000 after purchasing an additional 450 shares during the last quarter. Jones Financial Companies Lllp grew its position in Allegiant Travel by 94.5% in the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company's stock valued at $43,000 after acquiring an additional 223 shares in the last quarter. Sterling Capital Management LLC boosted its stake in shares of Allegiant Travel by 803.6% in the 4th quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company's stock valued at $47,000 after buying an additional 442 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of Allegiant Travel by 376.5% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,034 shares of the transportation company's stock valued at $53,000 after buying an additional 817 shares during the period. Finally, Signaturefd LLC boosted its stake in shares of Allegiant Travel by 30.3% in the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company's stock valued at $56,000 after buying an additional 138 shares during the period. 85.81% of the stock is owned by institutional investors and hedge funds.

About Allegiant Travel

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.