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The Potential Rise in the Price of Allegiant Travel (ALGT) following insiders activity

In a filing, Allegiant Travel revealed its EVP and CIO WILSON ROBERT PAUL III unloaded Company’s shares for reported $39750.0 on Jun 04 ’24. In the deal valued at $53.00 per share,750 shares were sold. As a result of this transaction, WILSON ROBERT PAUL III now holds 74,948 shares worth roughly $3.4 million.

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Then, Wilper Keny Frank sold 1,000 shares, generating $51,000 in total proceeds. Upon selling the shares at $51.00, the COO now owns 9,422 shares.

Before that, Wilper Keny Frank sold 875 shares. Allegiant Travel shares valued at $49,438 were divested by the COO at a price of $56.50 per share. As a result of the transaction, Wilper Keny Frank now holds 10,422 shares, worth roughly $0.47 million.

TD Cowen reiterated its Allegiant Travel [ALGT] rating to a Hold in a research note published on May 15, 2024; the price target was $60. A number of analysts have revised their coverage, including TD Cowen’s analysts, who remained covering the stock and in early February has reiterated a ‘”a Market perform”‘ rating for it. Deutsche Bank also remained covering ALGT and has increased its forecast on June 15, 2023 with a “Buy” recommendation from previously “Hold” rating. Barclays revised its rating on March 10, 2023. It rated ALGT as “an Equal weight” which previously was an “an Overweight”.

Price Performance Review of ALGT

On Friday, Allegiant Travel [NASDAQ:ALGT] saw its stock fall -8.85% to $45.31. Over the last five days, the stock has lost -9.94%. Allegiant Travel shares have fallen nearly -45.15% since the year began. Nevertheless, the stocks have fallen -64.05% over the past one year. While a 52-week high of $130.93 was reached on 02/15/24, a 52-week low of $46.90 was recorded on 07/05/24. SMA at 50 days reached $52.77, while 200 days put it at $67.96. A total of 0.72 million shares were traded, compared to the trading of 0.21 million shares in the previous session.

Levels Of Support And Resistance For ALGT Stock

The 24-hour chart illustrates a support level at 43.85, which if violated will result in even more drops to 42.40. On the upside, there is a resistance level at 48.16. A further resistance level may holdings at 51.02. The Relative Strength Index (RSI) on the 14-day chart is 28.80, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.57, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 99.38%. Stochastics%K at 17.61% indicates the stock is a buying.

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