Allegiant Travel Company (NASDAQ:ALGT) Sees Large Growth in Short Interest

Allegiant Travel Company (NASDAQ:ALGT) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totaling 1,854,477 shares, an increase of 35.5% from the December 31st total of 1,368,228 shares. Based on an average daily volume of 597,259 shares, the short-interest ratio is presently 3.1 days. Currently, 11.9% of the shares of the stock are sold short. Currently, 11.9% of the shares of the stock are sold short. Based on an average daily volume of 597,259 shares, the short-interest ratio is presently 3.1 days.

Hedge Funds Weigh In On Allegiant Travel

Large investors have recently added to or reduced their stakes in the business. Signaturefd LLC lifted its holdings in shares of Allegiant Travel by 27.3% during the 4th quarter. Signaturefd LLC now owns 546 shares of the transportation company’s stock valued at $47,000 after acquiring an additional 117 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Allegiant Travel by 4.9% during the third quarter. Harbor Capital Advisors Inc. now owns 3,759 shares of the transportation company’s stock worth $228,000 after purchasing an additional 176 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Allegiant Travel by 28.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 930 shares of the transportation company’s stock worth $51,000 after purchasing an additional 205 shares in the last quarter. CWM LLC boosted its position in shares of Allegiant Travel by 3.9% in the fourth quarter. CWM LLC now owns 6,031 shares of the transportation company’s stock worth $514,000 after buying an additional 224 shares during the period. Finally, Inspire Investing LLC grew its stake in shares of Allegiant Travel by 5.0% in the third quarter. Inspire Investing LLC now owns 7,451 shares of the transportation company’s stock valued at $453,000 after buying an additional 357 shares in the last quarter. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Allegiant Travel Stock Performance

ALGT opened at $91.06 on Tuesday. Allegiant Travel has a 1-year low of $39.80 and a 1-year high of $100.88. The stock has a market cap of $1.67 billion, a P/E ratio of -5.59, a P/E/G ratio of 0.24 and a beta of 1.64. The stock’s 50 day simple moving average is $85.65 and its 200 day simple moving average is $69.44. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.98 and a quick ratio of 0.95.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Tuesday, November 4th. The transportation company reported ($2.09) earnings per share for the quarter, missing the consensus estimate of ($1.84) by ($0.25). Allegiant Travel had a negative net margin of 11.36% and a positive return on equity of 5.24%. The business had revenue of $561.93 million for the quarter, compared to analysts’ expectations of $575.13 million. During the same quarter last year, the business posted ($2.02) earnings per share. The business’s revenue was down .1% compared to the same quarter last year. As a group, equities analysts anticipate that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Raymond James Financial downgraded Allegiant Travel from a “strong-buy” rating to an “outperform” rating and lifted their target price for the company from $78.00 to $98.00 in a research note on Friday, December 19th. Wall Street Zen upgraded shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Sunday, December 28th. Citigroup boosted their price objective on shares of Allegiant Travel from $88.00 to $109.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Wolfe Research upgraded shares of Allegiant Travel from a “peer perform” rating to an “outperform” rating and set a $108.00 target price for the company in a research note on Tuesday, January 20th. Finally, Zacks Research upgraded shares of Allegiant Travel from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 2nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Allegiant Travel presently has a consensus rating of “Hold” and a consensus price target of $92.73.

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.