American International Group Inc. decreased its position in shares of Spirit Airlines, Inc. (NASDAQ:SAVE) by 10.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,899 shares of the transportation company’s stock after selling 220 shares during the period. American International Group Inc.’s holdings in Spirit Airlines were worth $101,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Wells Fargo & Company MN raised its stake in Spirit Airlines by 24.3% in the first quarter. Wells Fargo & Company MN now owns 3,093,057 shares of the transportation company’s stock worth $164,148,000 after buying an additional 604,447 shares in the last quarter. Jennison Associates LLC raised its stake in Spirit Airlines by 9.6% in the first quarter. Jennison Associates LLC now owns 2,648,627 shares of the transportation company’s stock worth $140,563,000 after buying an additional 231,088 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Spirit Airlines by 2.1% in the first quarter. Ameriprise Financial Inc. now owns 1,294,830 shares of the transportation company’s stock worth $68,716,000 after buying an additional 26,932 shares in the last quarter. American Century Companies Inc. raised its stake in Spirit Airlines by 3.7% in the first quarter. American Century Companies Inc. now owns 1,251,488 shares of the transportation company’s stock worth $66,416,000 after buying an additional 45,051 shares in the last quarter. Finally, Schroder Investment Management Group raised its stake in Spirit Airlines by 2.6% in the first quarter. Schroder Investment Management Group now owns 979,277 shares of the transportation company’s stock worth $51,108,000 after buying an additional 24,747 shares in the last quarter.

Spirit Airlines, Inc. (SAVE) traded up 0.11% during trading on Friday, reaching $37.65. The company had a trading volume of 117,192 shares. Spirit Airlines, Inc. has a 52-week low of $37.17 and a 52-week high of $60.40. The company has a market capitalization of $2.61 billion, a PE ratio of 10.91 and a beta of 0.57. The company has a 50 day moving average price of $47.79 and a 200 day moving average price of $52.37.

Spirit Airlines (NASDAQ:SAVE) last released its earnings results on Thursday, July 27th. The transportation company reported $1.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.03. The firm had revenue of $701.68 million for 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 business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.11 EPS. On average, equities analysts forecast that Spirit Airlines, Inc. will post $3.61 EPS for the current fiscal year.

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SAVE has been the subject of a number of analyst reports. Wolfe Research raised shares of Spirit Airlines from a “market perform” rating to an “outperform” rating in a research note on Friday, June 2nd. Deutsche Bank AG reaffirmed a “buy” rating and set a $54.00 price objective (down from $69.00) on shares of Spirit Airlines in a research note on Sunday, July 30th. Morgan Stanley reaffirmed an “equal weight” rating and set a $56.00 price objective (down from $60.00) on shares of Spirit Airlines in a research note on Tuesday, July 25th. Stifel Nicolaus reaffirmed a “buy” rating and set a $55.00 price objective (down from $75.00) on shares of Spirit Airlines in a research note on Sunday, July 30th. Finally, Zacks Investment Research lowered shares of Spirit Airlines from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $54.96.

About Spirit Airlines

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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Institutional Ownership by Quarter for Spirit Airlines (NASDAQ:SAVE)

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