Polaris Capital Management LLC continued to hold its stake in shares of Spirit Airlines, Inc. (NASDAQ:SAVE) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,998 shares of the transportation company’s stock at the end of the second quarter. Polaris Capital Management LLC owned approximately 0.06% of Spirit Airlines worth $2,014,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in SAVE. BlackRock Inc. boosted its stake in Spirit Airlines by 7,002.6% during the first quarter. BlackRock Inc. now owns 2,691,469 shares of the transportation company’s stock valued at $142,838,000 after buying an additional 2,653,575 shares in the last quarter. Hodges Capital Management Inc. bought a new position in Spirit Airlines during the second quarter valued at about $16,711,000. State of New Jersey Common Pension Fund D boosted its stake in Spirit Airlines by 127.3% during the second quarter. State of New Jersey Common Pension Fund D now owns 500,000 shares of the transportation company’s stock valued at $25,826,000 after buying an additional 280,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Spirit Airlines by 16.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,621,926 shares of the transportation company’s stock valued at $86,073,000 after buying an additional 234,734 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Spirit Airlines by 4.4% during the first quarter. Vanguard Group Inc. now owns 5,364,771 shares of the transportation company’s stock valued at $284,708,000 after buying an additional 228,176 shares in the last quarter. 96.99% of the stock is owned by institutional investors and hedge funds.
In other news, Director H. Mcintyre Gardner acquired 5,000 shares of Spirit Airlines stock in a transaction dated Friday, September 15th. The stock was bought at an average cost of $33.78 per share, with a total value of $168,900.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by corporate insiders.
Shares of Spirit Airlines, Inc. (SAVE) traded up 0.50% during midday trading on Friday, reaching $34.01. The company’s stock had a trading volume of 233,031 shares. The stock has a 50-day moving average of $34.15 and a 200 day moving average of $46.72. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 9.86 and a beta of 0.66. Spirit Airlines, Inc. has a 12 month low of $30.32 and a 12 month high of $60.40.
Spirit Airlines (NASDAQ:SAVE) last posted its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.03. The company had revenue of $701.68 million during the quarter, compared to analysts’ expectations of $702.29 million. Spirit Airlines had a return on equity of 17.96% and a net margin of 9.62%. Spirit Airlines’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.11 earnings per share. On average, analysts predict that Spirit Airlines, Inc. will post $2.92 earnings per share for the current fiscal year.
Several research analysts recently weighed in on the company. J P Morgan Chase & Co raised Spirit Airlines from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $56.00 to $45.00 in a research note on Tuesday, August 1st. Citigroup Inc. raised Spirit Airlines from a “neutral” rating to a “buy” rating and decreased their target price for the company from $65.00 to $52.00 in a research note on Friday, July 28th. TheStreet cut Spirit Airlines from a “b-” rating to a “c+” rating in a research note on Monday, August 7th. ValuEngine cut Spirit Airlines from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Cowen and Company reaffirmed a “market perform” rating and set a $45.00 target price (down previously from $59.00) on shares of Spirit Airlines in a research note on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $47.77.
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.
Want to see what other hedge funds are holding SAVE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spirit Airlines, Inc. (NASDAQ:SAVE).
Receive News & Ratings for Spirit Airlines Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Airlines Inc. and related companies with MarketBeat.com's FREE daily email newsletter.