Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Allegiant Travel shares valued at $158,200 were sold by ELLMER GARY on Feb 12 ’24. At $79.10 per share, ELLMER GARY sold 2,000 shares. The insider’s holdings dropped to 8,490 shares worth approximately $0.49 million following the completion of this transaction.
Also, DeAngelo Scott Wayne sold 3,680 shares, netting a total of over 224,738 in proceeds. Following the sale of shares at $61.07 each, the insider now holds 93,872 shares.
Before that, Wilper Keny Frank had sold 1,270 shares from its account. In a trade valued at $90,297, the COO traded Allegiant Travel shares for $71.10 each. Upon closing the transaction, the insider’s holdings decreased to 1,270 shares, worth approximately $0.7 million.
As published in a research note from TD Cowen on February 06, 2024, Allegiant Travel [ALGT] has been retained to a Market perform and the price target has been revised to $85. Analysts at Deutsche Bank upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in mid June. As of March 10, 2023, Barclays has decreased its “an Overweight” rating to a “an Equal weight” for ALGT. Earlier on January 11, 2023, Susquehanna downgraded its rating. Their new recommendation was “a Neutral” for ALGT stock which previously was a “a Positive”.
Analyzing ALGT Stock Performance
During the last five days, there has been a drop of approximately -6.12%. Over the course of the year, Allegiant Travel shares have dropped approximately -29.80%. Shares of the company reached a 52-week high of $83.82 on 02/15/24 and a 52-week low of $56.00 on 04/25/24. A 50-day SMA is recorded $69.76, while a 200-day SMA reached $80.48. Nevertheless, trading volume fell to 0.65 million shares from 0.18 million shares the previous day.
Support And Resistance Levels for Allegiant Travel (ALGT)
According to the 24-hour chart, there is a support level at 56.37, which, if violated, would cause prices to drop to 54.76. In the upper region, resistance lies at 59.23. The next price resistance is at 60.48. RSI (Relative Strength Index) is 27.40 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.30, which suggests the price will decrease in the coming days. Percent R is at 81.74%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
