Legal & General Group Plc raised its position in Spirit Airlines, Inc. (NASDAQ:SAVE) by 8.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 20,480 shares of the transportation company’s stock after acquiring an additional 1,522 shares during the period. Legal & General Group Plc’s holdings in Spirit Airlines were worth $1,057,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SAVE. Empire Life Investments Inc. lifted its stake in Spirit Airlines by 7.4% in the 1st quarter. Empire Life Investments Inc. now owns 82,740 shares of the transportation company’s stock valued at $3,654,000 after acquiring an additional 5,689 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Spirit Airlines by 3.3% in the 1st quarter. Bank of New York Mellon Corp now owns 323,709 shares of the transportation company’s stock valued at $17,179,000 after acquiring an additional 10,452 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in Spirit Airlines by 286.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 13,271 shares of the transportation company’s stock valued at $704,000 after acquiring an additional 9,841 shares in the last quarter. Karp Capital Management Corp bought a new stake in Spirit Airlines in the 1st quarter valued at approximately $368,000. Finally, Parametric Portfolio Associates LLC lifted its stake in Spirit Airlines by 25.9% in the 1st quarter. Parametric Portfolio Associates LLC now owns 89,541 shares of the transportation company’s stock valued at $4,752,000 after acquiring an additional 18,433 shares in the last quarter. Hedge funds and other institutional investors own 96.99% of the company’s stock.

Spirit Airlines, Inc. (SAVE) opened at 33.41 on Friday. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 9.68 and a beta of 0.62. The company’s 50 day moving average price is $35.93 and its 200-day moving average price is $48.73. Spirit Airlines, Inc. has a 12-month low of $30.32 and a 12-month high of $60.40.

Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.14 EPS for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.03. The business had revenue of $701.68 million for the quarter, compared to analyst estimates of $702.29 million. Spirit Airlines had a return on equity of 17.96% and a net margin of 9.62%. Spirit Airlines’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period last year, the company posted $1.11 earnings per share. On average, equities analysts anticipate that Spirit Airlines, Inc. will post $3.02 earnings per share for the current fiscal year.

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Several equities research analysts have commented on SAVE shares. BidaskClub cut Spirit Airlines from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Bank of America Corporation cut their target price on Spirit Airlines from $75.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, June 30th. Deutsche Bank AG cut their target price on Spirit Airlines from $71.00 to $69.00 and set a “buy” rating on the stock in a research note on Wednesday, July 12th. Morgan Stanley restated an “equal weight” rating and issued a $60.00 target price (down previously from $61.00) on shares of Spirit Airlines in a research note on Thursday, July 13th. Finally, Cowen and Company restated a “market perform” rating and issued a $59.00 target price on shares of Spirit Airlines in a research note on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $49.13.

In other Spirit Airlines news, Director H. Mcintyre Gardner purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were acquired at an average cost of $33.78 per share, for a total transaction of $168,900.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.33% of the company’s stock.

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

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