Short Interest in Allegiant Travel Company (NASDAQ:ALGT) Drops By 22.7%

Allegiant Travel Company (NASDAQ:ALGT) was the recipient of a large drop in short interest in the month of December. As of December 15th, there was short interest totaling 1,420,667 shares, a drop of 22.7% from the November 30th total of 1,838,657 shares. Based on an average trading volume of 339,210 shares, the short-interest ratio is presently 4.2 days. Approximately 9.1% of the company’s shares are sold short. Approximately 9.1% of the company’s shares are sold short. Based on an average trading volume of 339,210 shares, the short-interest ratio is presently 4.2 days.

Wall Street Analysts Forecast Growth

ALGT has been the topic of several research analyst reports. Citigroup initiated coverage on Allegiant Travel in a research report on Thursday, December 4th. They set a “neutral” rating and a $88.00 target price on the stock. Raymond James Financial downgraded Allegiant Travel from a “strong-buy” rating to an “outperform” rating and lifted their target price for the stock from $78.00 to $98.00 in a report on Friday, December 19th. Morgan Stanley boosted their price target on Allegiant Travel from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. Susquehanna raised their price objective on shares of Allegiant Travel from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, November 14th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Allegiant Travel in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Allegiant Travel currently has a consensus rating of “Hold” and an average price target of $79.55.

Allegiant Travel Trading Down 1.9%

Shares of Allegiant Travel stock opened at $85.27 on Thursday. The stock has a market capitalization of $1.56 billion, a PE ratio of -5.23, a price-to-earnings-growth ratio of 0.58 and a beta of 1.67. Allegiant Travel has a 52 week low of $39.80 and a 52 week high of $107.57. The stock has a 50 day moving average price of $74.49 and a two-hundred day moving average price of $63.73. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.95 and a current ratio of 0.98.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Thursday, May 12th. The transportation company reported $1.18 earnings per share (EPS) for the quarter. Allegiant Travel had a positive return on equity of 5.24% and a negative net margin of 11.36%.The company had revenue of $496.88 million for the quarter. As a group, equities analysts anticipate that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Allegiant Travel by 4.1% in the 3rd quarter. Vanguard Group Inc. now owns 1,677,608 shares of the transportation company’s stock worth $101,948,000 after acquiring an additional 66,596 shares during the last quarter. Donald Smith & CO. Inc. boosted its stake in Allegiant Travel by 11.6% during the 2nd 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 during the last quarter. American Century Companies Inc. increased its holdings in Allegiant Travel by 5.7% during the 3rd quarter. American Century Companies Inc. now owns 688,322 shares of the transportation company’s stock worth $41,829,000 after purchasing an additional 37,205 shares in the last quarter. Par Capital Management Inc. raised its stake in shares of Allegiant Travel by 11.1% in the second quarter. Par Capital Management Inc. now owns 584,996 shares of the transportation company’s stock worth $32,146,000 after purchasing an additional 58,566 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Allegiant Travel by 15.4% in the third quarter. Franklin Resources Inc. now owns 549,287 shares of the transportation company’s stock worth $33,380,000 after purchasing an additional 73,360 shares during the last quarter. 85.81% of the stock is currently owned by institutional investors and hedge funds.

Allegiant Travel Company Profile

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.