Alliancebernstein L.P. cut its holdings in shares of Spirit Airlines Incorporated (NASDAQ:SAVE) by 12.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 265,903 shares of the transportation company’s stock after selling 36,197 shares during the quarter. Alliancebernstein L.P. owned 0.39% of Spirit Airlines worth $12,489,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Strs Ohio acquired a new stake in shares of Spirit Airlines in the 2nd quarter valued at $105,000. Point72 Hong Kong Ltd raised its holdings in shares of Spirit Airlines by 147.4% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,904 shares of the transportation company’s stock valued at $106,000 after purchasing an additional 1,730 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Spirit Airlines by 127.9% in the 2nd quarter. Sei Investments Co. now owns 3,934 shares of the transportation company’s stock valued at $143,000 after purchasing an additional 2,208 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Spirit Airlines by 286.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,445 shares of the transportation company’s stock valued at $162,000 after purchasing an additional 3,294 shares in the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in shares of Spirit Airlines in the 2nd quarter valued at $211,000.
In related news, Director Robert D. Johnson sold 750 shares of the stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $64.65, for a total value of $48,487.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Rocky Wiggins sold 4,500 shares of the stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $50.56, for a total transaction of $227,520.00. The disclosure for this sale can be found here. Insiders sold a total of 5,816 shares of company stock worth $303,113 over the last ninety days. Insiders own 0.33% of the company’s stock.
NASDAQ SAVE opened at $59.67 on Friday. Spirit Airlines Incorporated has a 12 month low of $34.36 and a 12 month high of $65.35.
Spirit Airlines (NASDAQ:SAVE) last posted its earnings results on Wednesday, October 24th. The transportation company reported $1.47 EPS for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.03. The company had revenue of $904.33 million during the quarter, compared to analysts’ expectations of $904.05 million.
SAVE has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Spirit Airlines to $59.00 in a report on Sunday, December 2nd. TheStreet upgraded shares of Spirit Airlines from a “c+” rating to a “b-” rating in a report on Thursday, October 25th. Zacks Investment Research upgraded shares of Spirit Airlines from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a report on Tuesday, September 11th. Buckingham Research set a $61.00 price objective on shares of Spirit Airlines and gave the company a “buy” rating in a report on Thursday, August 30th. Finally, Deutsche Bank raised their price objective on shares of Spirit Airlines from $51.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, October 10th. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $61.25.
Spirit Airlines Company 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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