Raymond James & Associates grew its stake in shares of Spirit Airlines Incorporated (NASDAQ:SAVE) by 49.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,586 shares of the transportation company’s stock after purchasing an additional 12,141 shares during the quarter. Raymond James & Associates owned approximately 0.05% of Spirit Airlines worth $1,934,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Quadrant Capital Group LLC purchased a new stake in shares of Spirit Airlines during the first quarter valued at $25,000. Penserra Capital Management LLC bought a new stake in shares of Spirit Airlines in the fourth quarter valued at about $29,000. Captrust Financial Advisors raised its holdings in shares of Spirit Airlines by 162.5% in the fourth quarter. Captrust Financial Advisors now owns 1,008 shares of the transportation company’s stock valued at $58,000 after acquiring an additional 624 shares in the last quarter. Ffcm LLC raised its holdings in shares of Spirit Airlines by 2,695.4% in the fourth quarter. Ffcm LLC now owns 3,019 shares of the transportation company’s stock valued at $175,000 after acquiring an additional 2,911 shares in the last quarter. Finally, Gideon Capital Advisors Inc. bought a new stake in shares of Spirit Airlines in the fourth quarter valued at about $204,000.
Shares of SAVE stock opened at $49.68 on Thursday. Spirit Airlines Incorporated has a fifty-two week low of $34.36 and a fifty-two week high of $65.35.
Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.84 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.84. The business had revenue of $855.80 million for the quarter, compared to analysts’ expectations of $855.77 million. Spirit Airlines’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 EPS.
In related news, Director Robert D. Johnson sold 750 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $45.97, for a total value of $34,477.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Laurie Villa sold 3,800 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $53.69, for a total value of $204,022.00. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.
Several analysts recently weighed in on SAVE shares. BidaskClub downgraded Spirit Airlines from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Barclays upgraded Spirit Airlines from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $65.00 to $70.00 in a report on Monday, March 11th. Imperial Capital decreased their price objective on Spirit Airlines from $92.00 to $83.00 and set an “outperform” rating for the company in a report on Thursday, March 28th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Spirit Airlines from a “buy” rating to a “hold” rating in a report on Tuesday, March 12th. Finally, Morgan Stanley reduced their target price on shares of Spirit Airlines from $68.00 to $56.00 and set an “equal weight” rating for the company in a report on Monday, May 20th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $66.87.
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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