176,080 Shares in Spirit Airlines Incorporated (SAVE) Purchased by Hillcrest Asset Management LLC
Hillcrest Asset Management LLC acquired a new stake in Spirit Airlines Incorporated (NASDAQ:SAVE) in the first quarter, HoldingsChannel reports. The institutional investor acquired 176,080 shares of the transportation company’s stock, valued at approximately $9,308,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Columbus Circle Investors increased its position in shares of Spirit Airlines by 7.8% in the 1st quarter. Columbus Circle Investors now owns 668,385 shares of the transportation company’s stock valued at $35,331,000 after buying an additional 48,328 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of Spirit Airlines by 1,159.6% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 501,335 shares of the transportation company’s stock valued at $29,037,000 after buying an additional 461,533 shares in the last quarter. Bank of Montreal Can increased its position in shares of Spirit Airlines by 496.8% in the 4th quarter. Bank of Montreal Can now owns 6,672 shares of the transportation company’s stock valued at $387,000 after buying an additional 5,554 shares in the last quarter. AlphaCrest Capital Management LLC bought a new stake in shares of Spirit Airlines in the 4th quarter valued at $330,000. Finally, Blueshift Asset Management LLC bought a new stake in shares of Spirit Airlines in the 4th quarter valued at $698,000.
A number of equities analysts have issued reports on the company. Stephens reiterated an “overweight” rating and set a $78.00 target price (up previously from $74.00) on shares of Spirit Airlines in a report on Wednesday, February 6th. BidaskClub cut 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 increased their target price for the stock from $65.00 to $70.00 in a report on Monday, March 11th. Imperial Capital lowered their target price 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. Finally, Zacks Investment Research cut Spirit Airlines from a “buy” rating to a “hold” rating in a report on Tuesday, March 12th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $68.53.
Spirit Airlines (NASDAQ:SAVE) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.84 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.84. The company had revenue of $855.80 million during the quarter, compared to the consensus estimate 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 business earned $0.44 EPS.
In other news, SVP Laurie Villa sold 3,800 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $53.69, for a total value of $204,022.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is owned by company 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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