New York State Common Retirement Fund increased its position in Spirit Airlines Incorporated (NASDAQ:SAVE) by 54.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 343,667 shares of the transportation company’s stock after acquiring an additional 120,524 shares during the quarter. New York State Common Retirement Fund owned about 0.50% of Spirit Airlines worth $11,482,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its holdings in Spirit Airlines by 7.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,160 shares of the transportation company’s stock worth $112,000 after acquiring an additional 141 shares in the last quarter. Aperio Group LLC increased its holdings in Spirit Airlines by 4.6% in the 2nd quarter. Aperio Group LLC now owns 7,260 shares of the transportation company’s stock worth $375,000 after acquiring an additional 322 shares in the last quarter. Advisor Group Inc. increased its holdings in Spirit Airlines by 18.8% in the 2nd quarter. Advisor Group Inc. now owns 2,170 shares of the transportation company’s stock worth $113,000 after acquiring an additional 344 shares in the last quarter. Sentry Investment Management LLC increased its holdings in Spirit Airlines by 1.7% in the 2nd quarter. Sentry Investment Management LLC now owns 54,044 shares of the transportation company’s stock worth $2,791,000 after acquiring an additional 888 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in Spirit Airlines by 12.0% in the 2nd quarter. Pacer Advisors Inc. now owns 9,222 shares of the transportation company’s stock worth $476,000 after acquiring an additional 989 shares in the last quarter.

Spirit Airlines Incorporated (NASDAQ SAVE) opened at $44.22 on Wednesday. Spirit Airlines Incorporated has a 52 week low of $30.32 and a 52 week high of $60.28. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $2,996.23, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 1.76 and a beta of 0.75.

Spirit Airlines (NASDAQ:SAVE) last posted its earnings results on Thursday, October 26th. The transportation company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. The firm had revenue of $687.20 million during the quarter, compared to the consensus estimate of $686.13 million. Spirit Airlines had a return on equity of 15.68% and a net margin of 8.76%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.24 EPS. equities analysts anticipate that Spirit Airlines Incorporated will post 3.08 earnings per share for the current fiscal year.

Spirit Airlines declared that its board has approved a share repurchase plan on Thursday, October 26th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the transportation company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Several research analysts have weighed in on the company. Cowen restated a “hold” rating and issued a $45.00 price target on shares of Spirit Airlines in a research note on Friday, September 1st. Morgan Stanley restated an “equal weight” rating and issued a $45.00 price target (down from $46.00) on shares of Spirit Airlines in a research note on Friday, September 1st. ValuEngine downgraded Spirit Airlines from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Deutsche Bank dropped their price target on Spirit Airlines from $54.00 to $42.00 and set a “buy” rating for the company in a research note on Wednesday, September 6th. Finally, J P Morgan Chase & Co downgraded Spirit Airlines from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $45.00 to $37.00 in a research note on Friday, September 15th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $41.75.

In other news, VP John A. Bendoraitis sold 2,340 shares of the stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $42.92, for a total transaction of $100,432.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently owned by corporate insiders.

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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.

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

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