Allegiant Travel (NASDAQ:ALGT) Stock Price Down 3.9% - Time to Sell?

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

Analyst Ratings Changes

A number of brokerages have weighed in on ALGT. TD Cowen upped their price target on Allegiant Travel from $35.00 to $50.00 and gave the company a "hold" rating in a research report on Monday, May 12th. Susquehanna cut their price objective on shares of Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Barclays reduced their target price on shares of Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Bank of America reduced their price objective on shares of Allegiant Travel from $95.00 to $50.00 and set an "underperform" rating for the company in a research note on Thursday, April 3rd. Finally, Morgan Stanley decreased their price objective on Allegiant Travel from $93.00 to $85.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, Allegiant Travel has a consensus rating of "Hold" and an average price target of $63.70.

Allegiant Travel Stock Down 1.6%

The company has a market cap of $980.11 million, a price-to-earnings ratio of -4.02 and a beta of 1.74. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The firm has a 50-day moving average price of $50.93 and a 200 day moving average price of $70.60.

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

Institutional Trading of Allegiant Travel

Institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its position in shares of Allegiant Travel by 489.1% in the first quarter. Farther Finance Advisors LLC now owns 542 shares of the transportation company's stock valued at $28,000 after buying an additional 450 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Allegiant Travel by 94.5% during the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company's stock worth $43,000 after acquiring an additional 223 shares during the period. Sterling Capital Management LLC raised its holdings in 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 acquiring an additional 442 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Allegiant Travel by 376.5% during 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 acquiring an additional 817 shares during the period. Finally, Signaturefd LLC raised its stake in Allegiant Travel by 30.3% in the fourth quarter. Signaturefd LLC now owns 594 shares of the transportation company's stock valued at $56,000 after purchasing an additional 138 shares in the last quarter. Institutional investors own 85.81% of the company's stock.

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.