Allegiant Travel (NASDAQ:ALGT) Stock Price Down 5.1% - Here's Why

Key Points

• ALGT fell ~5.1% intraday to about $81.23 on Wednesday with only ~91,879 shares traded—an ~83% decline versus its average daily volume—after closing the prior session at $85.57.
• Analysts are mixed: the consensus rating is "Hold" (five Buys, seven Holds, one Sell) with an average price target of $97.91, and several firms recently raised targets (e.g., Evercore to $125, Morgan Stanley to $100).
• Insiders and fundamentals highlight risk and interest: the chairman sold shares and insiders dumped ~300,000 shares in the last 90 days (insiders own 14.7%, institutions 85.8%); market cap is ~$1.5B, P/E is negative (~-31.6), debt/equity ~1.60, and the 50-day SMA ($89.80) sits above the current price while the 200-day SMA ($82.65) is roughly in line.

Allegiant Travel Company (NASDAQ:ALGT - Get Free Report) dropped 5.1% during mid-day trading on Wednesday . The company traded as low as $80.95 and last traded at $81.2250. Approximately 91,879 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 525,721 shares. The stock had previously closed at $85.57.

Wall Street Analyst Weigh In

ALGT has been the subject of a number of research analyst reports. Susquehanna reissued a "positive" rating and issued a $110.00 target price on shares of Allegiant Travel in a research report on Friday, February 6th. Bank of America raised Allegiant Travel from an "underperform" rating to a "neutral" rating and upped their target price for the company from $55.00 to $95.00 in a research report on Tuesday, January 6th. Evercore upped their target price on Allegiant Travel from $120.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday, February 5th. UBS Group upped their target price on Allegiant Travel from $90.00 to $93.00 and gave the company a "neutral" rating in a research report on Monday, March 23rd. Finally, Morgan Stanley upped their target price on Allegiant Travel from $85.00 to $100.00 and gave the company an "equal weight" rating in a research report on Thursday, February 5th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Allegiant Travel has an average rating of "Hold" and a consensus price target of $97.91.

Allegiant Travel Trading Down 5.2%

The company has a 50 day simple moving average of $89.80 and a 200 day simple moving average of $82.65. The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $1.50 billion, a PE ratio of -31.59, a P/E/G ratio of 0.47 and a beta of 1.63.

Insider Buying and Selling

In other Allegiant Travel news, Chairman Maurice J. Gallagher, Jr. sold 861 shares of the company's stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $114.00, for a total transaction of $98,154.00. Following the completion of the sale, the chairman directly owned 150,000 shares of the company's stock, valued at $17,100,000. This represents a 0.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 300,000 shares of company stock worth $34,350,512. 14.70% of the stock is owned by corporate insiders.

Institutional Trading of Allegiant Travel

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALGT. Heartland Advisors Inc. purchased a new stake in Allegiant Travel during the 3rd quarter valued at approximately $12,747,000. Balyasny Asset Management L.P. purchased a new position in shares of Allegiant Travel during the 4th quarter worth approximately $16,405,000. Assenagon Asset Management S.A. purchased a new position in shares of Allegiant Travel during the 1st quarter worth approximately $11,781,000. Emerald Advisers LLC raised its stake in shares of Allegiant Travel by 23.7% during the 3rd quarter. Emerald Advisers LLC now owns 427,718 shares of the transportation company's stock worth $25,992,000 after buying an additional 81,987 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Allegiant Travel by 15.4% during the 3rd quarter. Franklin Resources Inc. now owns 549,287 shares of the transportation company's stock worth $33,380,000 after buying an additional 73,360 shares in the last quarter. 85.81% of the stock is owned by hedge funds and other institutional investors.

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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