Bank of New York Mellon Corp boosted its position in shares of Spirit Airlines Incorporated (NASDAQ:SAVE) by 22.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 345,397 shares of the transportation company’s stock after purchasing an additional 62,989 shares during the quarter. Bank of New York Mellon Corp owned about 0.51% of Spirit Airlines worth $12,555,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Strs Ohio purchased a new stake in Spirit Airlines during the 2nd quarter valued at about $105,000. Point72 Hong Kong Ltd grew its position in Spirit Airlines by 147.4% during 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 during the last quarter. Sei Investments Co. grew its position in Spirit Airlines by 127.9% during 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 during the last quarter. BNP Paribas Arbitrage SA grew its position in Spirit Airlines by 286.2% during 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 during the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in Spirit Airlines during the 2nd quarter valued at about $211,000.
In other Spirit Airlines news, Director Robert D. Johnson sold 750 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $64.65, for a total transaction of $48,487.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Rocky Wiggins sold 566 shares of the company’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $47.89, for a total transaction of $27,105.74. The disclosure for this sale can be found here. Insiders have sold a total of 5,816 shares of company stock worth $303,113 in the last 90 days. Company insiders own 0.33% of the company’s stock.
SAVE opened at $59.67 on Friday. Spirit Airlines Incorporated has a 52-week low of $34.36 and a 52-week high of $65.35.
Spirit Airlines (NASDAQ:SAVE) last posted its earnings results on Wednesday, October 24th. The transportation company reported $1.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.03. The company had revenue of $904.33 million for the quarter, compared to the consensus estimate of $904.05 million.
SAVE has been the topic of several recent analyst reports. Credit Suisse Group initiated coverage on shares of Spirit Airlines in a research report on Monday, November 19th. They set a “neutral” rating and a $59.00 price objective on the stock. BidaskClub raised shares of Spirit Airlines from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 31st. Zacks Investment Research downgraded shares of Spirit Airlines from a “buy” rating to a “hold” rating in a research report on Wednesday, September 12th. Cowen increased their price objective on shares of Spirit Airlines from $55.00 to $60.00 and gave the company a “market perform” rating in a research report on Tuesday, November 27th. Finally, Macquarie increased their price objective on shares of Spirit Airlines from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, August 28th. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Spirit Airlines has a consensus rating of “Buy” and a consensus target price of $61.25.
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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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