Alexandria Capital LLC boosted its holdings in Spirit Airlines Incorporated (NASDAQ:SAVE) by 4.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 49,500 shares of the transportation company’s stock after purchasing an additional 1,906 shares during the quarter. Alexandria Capital LLC’s holdings in Spirit Airlines were worth $2,220,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of SAVE. First Personal Financial Services raised its stake in shares of Spirit Airlines by 87.9% during the third quarter. First Personal Financial Services now owns 3,088 shares of the transportation company’s stock valued at $103,000 after purchasing an additional 1,445 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Spirit Airlines by 7.0% during the second quarter. The Manufacturers Life Insurance Company now owns 2,160 shares of the transportation company’s stock valued at $112,000 after purchasing an additional 141 shares during the period. Advisor Group Inc. raised its stake in shares of Spirit Airlines by 18.8% during the second quarter. Advisor Group Inc. now owns 2,170 shares of the transportation company’s stock valued at $113,000 after purchasing an additional 344 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of Spirit Airlines during the third quarter valued at approximately $142,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Spirit Airlines during the fourth quarter valued at approximately $183,000.
A number of analysts have recently issued reports on the stock. Cowen dropped their price objective on shares of Spirit Airlines from $49.00 to $45.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 7th. ValuEngine upgraded shares of Spirit Airlines from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Buckingham Research lifted their price objective on shares of Spirit Airlines from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. Macquarie upgraded shares of Spirit Airlines from a “neutral” rating to an “outperform” rating and set a $33.00 price objective on the stock in a research note on Wednesday, February 7th. Finally, Morgan Stanley dropped their price objective on shares of Spirit Airlines from $43.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. Spirit Airlines has a consensus rating of “Hold” and an average price target of $47.33.
Shares of Spirit Airlines Incorporated (SAVE) opened at $38.90 on Wednesday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock has a market cap of $2,700.00, a price-to-earnings ratio of 6.39, a P/E/G ratio of 1.82 and a beta of 0.60. Spirit Airlines Incorporated has a 12 month low of $30.32 and a 12 month high of $60.28.
Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings results on Tuesday, February 6th. The transportation company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The business had revenue of $667.00 million during the quarter, compared to analyst estimates of $666.12 million. Spirit Airlines had a net margin of 8.55% and a return on equity of 15.86%. The business’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 earnings per share. analysts expect that Spirit Airlines Incorporated will post 3.08 EPS for the current year.
Spirit Airlines declared that its board has approved a share repurchase program on Thursday, October 26th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the transportation company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In related news, VP John A. Bendoraitis sold 2,340 shares of Spirit Airlines stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $42.92, for a total value of $100,432.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is currently owned by insiders.
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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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