Capital Fund Management S.A. raised its position in shares of Spirit Airlines Inc. (NASDAQ:SAVE) by 333.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,326 shares of the company’s stock after buying an additional 41,031 shares during the period. Capital Fund Management S.A.’s holdings in Spirit Airlines were worth $2,268,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Middleton & Co Inc MA boosted its stake in shares of Spirit Airlines by 0.3% in the third quarter. Middleton & Co Inc MA now owns 17,360 shares of the company’s stock worth $738,000 after buying an additional 45 shares during the period. Stanley Laman Group Ltd. boosted its stake in shares of Spirit Airlines by 0.3% in the third quarter. Stanley Laman Group Ltd. now owns 20,344 shares of the company’s stock worth $865,000 after buying an additional 61 shares during the period. Independent Portfolio Consultants Inc. boosted its stake in shares of Spirit Airlines by 5.2% in the third quarter. Independent Portfolio Consultants Inc. now owns 3,511 shares of the company’s stock worth $149,000 after buying an additional 175 shares during the period. Legal & General Group Plc boosted its stake in shares of Spirit Airlines by 9.5% in the second quarter. Legal & General Group Plc now owns 2,468 shares of the company’s stock worth $111,000 after buying an additional 215 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Spirit Airlines by 2.7% in the second quarter. PNC Financial Services Group Inc. now owns 8,222 shares of the company’s stock worth $369,000 after buying an additional 219 shares during the period. Institutional investors own 95.72% of the company’s stock.
Shares of Spirit Airlines Inc. (NASDAQ:SAVE) traded down 1.05% during midday trading on Thursday, reaching $55.81. The company’s stock had a trading volume of 854,210 shares. Spirit Airlines Inc. has a one year low of $37.17 and a one year high of $60.40. The firm has a 50-day moving average of $57.40 and a 200-day moving average of $47.30. The stock has a market cap of $3.87 billion, a PE ratio of 13.65 and a beta of 0.81.
Spirit Airlines (NASDAQ:SAVE) last issued its earnings results on Tuesday, October 25th. The company reported $1.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.07. The business earned $621.30 million during the quarter, compared to the consensus estimate of $611.52 million. Spirit Airlines had a return on equity of 24.09% and a net margin of 12.85%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.35 earnings per share. On average, analysts forecast that Spirit Airlines Inc. will post $4.07 EPS for the current year.
A number of analysts have recently commented on the company. Morgan Stanley reaffirmed an “equal weight” rating on shares of Spirit Airlines in a research note on Friday, December 16th. Barclays PLC assumed coverage on Spirit Airlines in a research note on Thursday, December 15th. They set an “equal weight” rating and a $67.00 target price for the company. Cowen and Company cut Spirit Airlines from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $53.00 to $58.00 in a research note on Wednesday, January 4th. Zacks Investment Research raised Spirit Airlines from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Thursday, January 12th. Finally, Citigroup Inc. cut Spirit Airlines from a “buy” rating to a “neutral” rating and increased their target price for the stock from $52.00 to $61.00 in a research note on Friday, November 18th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $60.05.
In other news, VP Scott Haralson sold 2,951 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $51.32, for a total transaction of $151,445.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Robert Schroeter sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $53.76, for a total value of $188,160.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,237 shares of company stock valued at $1,201,268. 0.26% of the stock is currently owned by corporate insiders.
About Spirit Airlines
Spirit Airlines, Inc is an airline company. The Company’s all-Airbus fleet operates more than 385 daily flights to 56 destinations in the United States, Caribbean and Latin America. Its ultra-low-cost carrier (ULCC) business model provides low, unbundled base fares that remove components traditionally included in the price of an airline ticket.
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