7,000 Shares in Spirit Airlines, Inc. (SAVE) Acquired by New Jersey Better Educational Savings Trust
New Jersey Better Educational Savings Trust acquired a new stake in Spirit Airlines, Inc. (NASDAQ:SAVE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,000 shares of the transportation company’s stock, valued at approximately $362,000.
Other hedge funds have also recently modified their holdings of the company. James Investment Research Inc. bought a new position in Spirit Airlines during the first quarter valued at $137,000. Oppenheimer Asset Management Inc. bought a new position in Spirit Airlines during the first quarter valued at $346,000. Parkwood LLC increased its position in Spirit Airlines by 24.9% in the first quarter. Parkwood LLC now owns 6,675 shares of the transportation company’s stock valued at $354,000 after buying an additional 1,332 shares in the last quarter. Karp Capital Management Corp bought a new position in Spirit Airlines during the first quarter valued at $368,000. Finally, NJ State Employees Deferred Compensation Plan bought a new position in Spirit Airlines during the first quarter valued at $371,000.
Spirit Airlines, Inc. (SAVE) opened at 38.25 on Friday. The company has a market cap of $2.65 billion, a P/E ratio of 11.09 and a beta of 0.57. The firm has a 50-day moving average price of $47.38 and a 200 day moving average price of $52.24. Spirit Airlines, Inc. has a 12 month low of $37.17 and a 12 month high of $60.40.
Spirit Airlines (NASDAQ:SAVE) last posted its earnings results on Thursday, July 27th. The transportation company reported $1.14 earnings per share (EPS) 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%. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.11 earnings per share. Equities research analysts predict that Spirit Airlines, Inc. will post $3.61 EPS for the current year.
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Several research firms have recently weighed in on SAVE. TheStreet downgraded Spirit Airlines from a “b-” rating to a “c+” rating in a research report on Monday, August 7th. Zacks Investment Research raised Spirit Airlines from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. J P Morgan Chase & Co raised Spirit Airlines from a “neutral” rating to an “overweight” rating and cut their target price for the company from $56.00 to $45.00 in a research report on Tuesday, August 1st. Stifel Nicolaus reissued a “buy” rating and set a $55.00 target price (down previously from $75.00) on shares of Spirit Airlines in a research report on Sunday, July 30th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $54.00 target price (down previously from $69.00) on shares of Spirit Airlines in a research report on Sunday, July 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $54.96.
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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