Laurie Villa Sells 300 Shares of Spirit Airlines Inc. (SAVE) Stock
Spirit Airlines Inc. (NASDAQ:SAVE) VP Laurie Villa sold 300 shares of the stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $38.37, for a total value of $11,511.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Spirit Airlines Inc. (NASDAQ:SAVE) opened at 37.44 on Tuesday. Spirit Airlines Inc. has a 1-year low of $32.73 and a 1-year high of $53.53. The stock has a 50 day moving average price of $39.70 and a 200-day moving average price of $43.83. The stock has a market capitalization of $2.62 billion, a P/E ratio of 8.74 and a beta of 1.06.
Spirit Airlines (NASDAQ:SAVE) last released its quarterly earnings data on Friday, July 29th. The company reported $1.11 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.03. The company earned $584.10 million during the quarter, compared to the consensus estimate of $594.47 million. Spirit Airlines had a net margin of 13.83% and a return on equity of 25.93%. Spirit Airlines’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 EPS. Equities research analysts expect that Spirit Airlines Inc. will post $3.91 EPS for the current year.
Several research firms have weighed in on SAVE. Citigroup Inc. reiterated a “buy” rating and issued a $56.00 price objective on shares of Spirit Airlines in a report on Tuesday, July 19th. Credit Suisse Group AG reissued an “outperform” rating on shares of Spirit Airlines in a research report on Wednesday, July 6th. Deutsche Bank AG decreased their target price on Spirit Airlines from $56.00 to $52.00 and set a “buy” rating for the company in a research report on Monday, August 1st. Zacks Investment Research lowered Spirit Airlines from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 29th. Finally, Wolfe Research lowered Spirit Airlines from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 2nd. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $59.49.
A number of hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its stake in Spirit Airlines by 583.0% in the first quarter. Wellington Management Group LLP now owns 1,618,183 shares of the company’s stock worth $77,641,000 after buying an additional 1,381,250 shares during the last quarter. Cortina Asset Management LLC increased its stake in Spirit Airlines by 17.4% in the second quarter. Cortina Asset Management LLC now owns 220,086 shares of the company’s stock worth $9,875,000 after buying an additional 32,689 shares during the last quarter. Aperio Group LLC increased its stake in Spirit Airlines by 45.3% in the first quarter. Aperio Group LLC now owns 7,332 shares of the company’s stock worth $352,000 after buying an additional 2,286 shares during the last quarter. Nicholas Investment Partners LP acquired a new stake in Spirit Airlines during the first quarter worth approximately $1,380,000. Finally, Royal Bank of Canada increased its stake in Spirit Airlines by 11.4% in the first quarter. Royal Bank of Canada now owns 453,565 shares of the company’s stock worth $21,762,000 after buying an additional 46,490 shares during the last quarter. Institutional investors own 98.20% of the company’s stock.
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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