DekaBank Deutsche Girozentrale increased its stake in Spirit Airlines, Inc. (NASDAQ:SAVE) by 11.5% during the second quarter, Holdings Channel reports. The institutional investor owned 122,100 shares of the transportation company’s stock after buying an additional 12,600 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Spirit Airlines were worth $6,360,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of SAVE. Middleton & Co Inc MA boosted its position in shares of Spirit Airlines by 0.3% in the first quarter. Middleton & Co Inc MA now owns 17,275 shares of the transportation company’s stock valued at $917,000 after buying an additional 45 shares in the last quarter. Camarda Financial Advisors LLC boosted its position in shares of Spirit Airlines by 0.3% in the second quarter. Camarda Financial Advisors LLC now owns 32,224 shares of the transportation company’s stock valued at $1,664,000 after buying an additional 101 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Spirit Airlines by 0.3% in the first quarter. Public Employees Retirement System of Ohio now owns 96,711 shares of the transportation company’s stock valued at $5,132,000 after buying an additional 246 shares in the last quarter. Aperio Group LLC boosted its position in shares of Spirit Airlines by 4.6% in the second quarter. Aperio Group LLC now owns 7,260 shares of the transportation company’s stock valued at $375,000 after buying an additional 322 shares in the last quarter. Finally, Amalgamated Bank boosted its position in shares of Spirit Airlines by 3.4% in the first quarter. Amalgamated Bank now owns 10,252 shares of the transportation company’s stock valued at $544,000 after buying an additional 333 shares in the last quarter. Institutional investors and hedge funds own 98.47% of the company’s stock.

Shares of Spirit Airlines, Inc. (SAVE) opened at 38.22 on Tuesday. Spirit Airlines, Inc. has a 52-week low of $37.17 and a 52-week high of $60.40. The stock’s 50 day moving average is $46.97 and its 200 day moving average is $52.06. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 11.08 and a beta of 0.57.

Spirit Airlines (NASDAQ:SAVE) last announced its earnings results on Thursday, July 27th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.03. Spirit Airlines had a net margin of 9.62% and a return on equity of 17.96%. The firm had revenue of $701.68 million for the quarter, compared to analyst estimates of $702.29 million. During the same quarter last year, the business earned $1.11 earnings per share. Spirit Airlines’s revenue was up 20.1% compared to the same quarter last year. On average, equities analysts expect that Spirit Airlines, Inc. will post $3.61 earnings per share for the current fiscal year.

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Several brokerages have recently weighed in on SAVE. Barclays PLC lowered their target price on Spirit Airlines from $67.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday. Cowen and Company restated a “market perform” rating and set a $59.00 target price on shares of Spirit Airlines in a report on Tuesday, July 18th. Morgan Stanley restated an “equal weight” rating and set a $60.00 target price (down from $61.00) on shares of Spirit Airlines in a report on Thursday, July 13th. Imperial Capital boosted their target price on Spirit Airlines from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, May 1st. Finally, Bank of America Corporation cut Spirit Airlines from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $68.00 to $44.00 in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $53.54.

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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