Raymond James & Associates grew its position in shares of Spirit Airlines Incorporated (NASDAQ:SAVE) by 7.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 49,121 shares of the transportation company’s stock after acquiring an additional 3,221 shares during the period. Raymond James & Associates owned about 0.07% of Spirit Airlines worth $1,786,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Strs Ohio purchased a new position in shares of Spirit Airlines during the 2nd quarter worth approximately $105,000. Sei Investments Co. grew its holdings in shares of Spirit Airlines by 127.9% during the 2nd quarter. Sei Investments Co. now owns 3,934 shares of the transportation company’s stock worth $143,000 after acquiring an additional 2,208 shares during the period. BNP Paribas Arbitrage SA grew its holdings in shares of Spirit Airlines by 286.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,445 shares of the transportation company’s stock worth $162,000 after acquiring an additional 3,294 shares during the period. Janus Henderson Group PLC purchased a new position in shares of Spirit Airlines during the 2nd quarter worth approximately $211,000. Finally, TLP Group LLC grew its holdings in shares of Spirit Airlines by 1,479.7% during the 1st quarter. TLP Group LLC now owns 6,066 shares of the transportation company’s stock worth $229,000 after acquiring an additional 5,682 shares during the period.
A number of research firms have weighed in on SAVE. Zacks Investment Research downgraded Spirit Airlines from a “buy” rating to a “hold” rating in a report on Wednesday, September 12th. BidaskClub raised Spirit Airlines from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 31st. Buckingham Research set a $61.00 price target on Spirit Airlines and gave the stock a “buy” rating in a research report on Thursday, August 30th. Imperial Capital reissued an “outperform” rating and issued a $69.00 price target (up from $61.00) on shares of Spirit Airlines in a research report on Thursday, September 27th. Finally, Macquarie boosted their price target on Spirit Airlines from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 28th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $52.62.
In related news, Director Robert D. Johnson sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $47.53, for a total value of $35,647.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Rocky Wiggins sold 566 shares of the company’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $47.89, for a total value of $27,105.74. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.
Shares of SAVE opened at $47.07 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Spirit Airlines Incorporated has a 52 week low of $32.99 and a 52 week high of $49.63.
Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings results on Wednesday, July 25th. The transportation company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.02. Spirit Airlines had a return on equity of 15.86% and a net margin of 8.55%. The firm had revenue of $851.80 million for the quarter, compared to analysts’ expectations of $851.83 million. During the same period in the previous year, the firm posted $1.14 EPS. The business’s revenue for the quarter was up 21.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Spirit Airlines Incorporated will post 3.08 earnings per share for the current fiscal year.
Spirit Airlines Profile
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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