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Allegiant Travel (NASDAQ:ALGT) Short Interest Up 21.1% in April


Allegiant Travel (NASDAQ:ALGT – Get Rating) was the target of a significant growth in short interest during the month of April. As of April 15th, there was short interest totaling 841,800 shares, a growth of 21.1% from the March 31st total of 695,200 shares. Based on an average daily trading volume, of 229,800 shares, the days-to-cover ratio is currently 3.7 days. Currently, 5.4% of the shares of the company are sold short.

Several equities analysts have recently weighed in on the company. Barclays reduced their price target on Allegiant Travel from $275.00 to $220.00 in a research report on Thursday, April 7th. Bank of America lowered Allegiant Travel from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $225.00 to $200.00 in a research note on Friday, January 7th. Raymond James lowered Allegiant Travel from a “strong-buy” rating to a “market perform” rating in a research note on Wednesday, January 5th. Deutsche Bank Aktiengesellschaft dropped their price objective on Allegiant Travel from $275.00 to $247.00 in a research note on Thursday, February 3rd. Finally, Zacks Investment Research raised Allegiant Travel from a “strong sell” rating to a “hold” rating and set a $160.00 price objective for the company in a research note on Tuesday, March 22nd. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $228.90.

ALGT stock opened at $155.73 on Tuesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.98 and a current ratio of 2.02. Allegiant Travel has a 52 week low of $132.03 and a 52 week high of $244.42. The firm’s fifty day moving average is $157.14 and its 200 day moving average is $172.99. The firm has a market cap of $2.82 billion, a P/E ratio of 17.94 and a beta of 1.55.

Allegiant Travel (NASDAQ:ALGT – Get Rating) last released its earnings results on Wednesday, February 2nd. The transportation company reported $1.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.05. Allegiant Travel had a net margin of 8.89% and a return on equity of 3.37%. The company had revenue of $496.90 million for the quarter, compared to analyst estimates of $483.75 million. During the same quarter last year, the firm earned ($1.12) EPS. The firm’s quarterly revenue was up 101.5% compared to the same quarter last year. As a group, analysts forecast that Allegiant Travel will post 5.07 EPS for the current year.

In other news, CEO Maurice J. Gallagher, Jr. sold 2,193 shares of Allegiant Travel stock in a transaction on Thursday, March 10th. The stock was sold at an average price of $145.85, for a total value of $319,849.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Scott Wayne Deangelo sold 500 shares of Allegiant Travel stock in a transaction on Friday, April 1st. The shares were sold at an average price of $162.87, for a total value of $81,435.00. The disclosure for this sale can be found here. Insiders sold 24,094 shares of company stock valued at $4,094,497 over the last three months. Company insiders own 16.70% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in ALGT. Amundi Pioneer Asset Management Inc. bought a new position in shares of Allegiant Travel during the 1st quarter valued at $155,000. Morgan Stanley boosted its position in Allegiant Travel by 146.2% during the 2nd quarter. Morgan Stanley now owns 196,844 shares of the transportation company’s stock valued at $38,189,000 after buying an additional 116,891 shares during the period. Commonwealth Equity Services LLC increased its position in Allegiant Travel by 46.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 2,696 shares of the transportation company’s stock valued at $527,000 after buying an additional 854 shares during the period. SG Americas Securities LLC increased its position in Allegiant Travel by 86.2% during the 3rd quarter. SG Americas Securities LLC now owns 1,663 shares of the transportation company’s stock valued at $325,000 after buying an additional 770 shares during the period. Finally, Raymond James & Associates increased its position in Allegiant Travel by 41.6% during the 3rd quarter. Raymond James & Associates now owns 18,652 shares of the transportation company’s stock valued at $3,646,000 after buying an additional 5,479 shares during the period. 98.49% of the stock is currently owned by institutional investors.

Allegiant Travel Company Profile (GetRating)

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 14, 2022, it operated a fleet of 110 Airbus A320 series aircraft.

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