Sanders Morris Harris LLC boosted its stake in shares of Spirit Airlines Incorporated (NASDAQ:SAVE) by 44.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 42,000 shares of the transportation company’s stock after buying an additional 13,000 shares during the period. Sanders Morris Harris LLC owned about 0.06% of Spirit Airlines worth $1,527,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of SAVE. Dynamic Technology Lab Private Ltd purchased a new position in Spirit Airlines during the 1st quarter valued at about $2,701,000. Kempen Capital Management N.V. grew its stake in Spirit Airlines by 0.8% during the 1st quarter. Kempen Capital Management N.V. now owns 225,041 shares of the transportation company’s stock valued at $8,502,000 after acquiring an additional 1,869 shares in the last quarter. Royal Bank of Canada grew its stake in Spirit Airlines by 11.6% during the 1st quarter. Royal Bank of Canada now owns 309,412 shares of the transportation company’s stock valued at $11,690,000 after acquiring an additional 32,110 shares in the last quarter. Atlantic Trust Group LLC purchased a new position in Spirit Airlines during the 1st quarter valued at about $1,674,000. Finally, Arbor Wealth Management LLC purchased a new position in Spirit Airlines during the 1st quarter valued at about $1,348,000.
SAVE traded down $0.48 on Tuesday, hitting $37.40. The company had a trading volume of 1,468,934 shares, compared to its average volume of 1,367,155. Spirit Airlines Incorporated has a 1-year low of $30.32 and a 1-year high of $53.84. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.
Spirit Airlines (NASDAQ:SAVE) last posted its earnings results on Thursday, April 26th. The transportation company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.01. Spirit Airlines had a return on equity of 15.86% and a net margin of 8.55%. The firm had revenue of $704.10 million during the quarter, compared to analyst estimates of $704.39 million. During the same period in the previous year, the company earned $0.51 EPS. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. research analysts expect that Spirit Airlines Incorporated will post 3.08 earnings per share for the current fiscal year.
Several research firms have weighed in on SAVE. Imperial Capital lifted their target price on Spirit Airlines from $49.00 to $52.00 and gave the company an “outperform” rating in a research note on Tuesday, March 13th. Citigroup lowered their price target on Spirit Airlines from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, May 29th. Buckingham Research boosted their price target on Spirit Airlines from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Wednesday, June 13th. BidaskClub cut Spirit Airlines from a “hold” rating to a “sell” rating in a research note on Thursday, April 12th. Finally, Deutsche Bank boosted their price target on Spirit Airlines from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, April 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. Spirit Airlines has a consensus rating of “Hold” and an average target price of $48.17.
About Spirit Airlines
Spirit Airlines, Inc is an airline company. The Company provides air transportation for passengers. As of December 31, 2016, its all-Airbus Fit Fleet operated over 420 daily flights to 59 destinations in the United States, Caribbean and Latin America. As of December 31, 2016, it had a fleet of 95 Airbus single-aisle aircraft, which are referred to as A320 family aircraft and include the A319, A320 and A321 models, which have common design and equipment but differ most notably in fuselage length, service range and seat capacity.
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