Roman Butler Fullerton & Co. Raises Holdings in Spirit Airlines, Inc. (NYSE:SAVE)

Roman Butler Fullerton & Co. boosted its stake in shares of Spirit Airlines, Inc. (NYSE:SAVE) by 6.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 178,033 shares of the company’s stock after buying an additional 10,595 shares during the period. Roman Butler Fullerton & Co. owned 0.16% of Spirit Airlines worth $652,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of SAVE. Advisor Resource Council bought a new stake in shares of Spirit Airlines in the 2nd quarter valued at about $69,621,000. Virtu Financial LLC acquired a new stake in shares of Spirit Airlines in the 1st quarter worth $496,000. Bayesian Capital Management LP acquired a new stake in shares of Spirit Airlines in the 1st quarter worth $829,000. Price T Rowe Associates Inc. MD grew its stake in Spirit Airlines by 5.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 73,622 shares of the company’s stock worth $357,000 after buying an additional 3,955 shares during the last quarter. Finally, Wellington Wealth Strategies LLC. acquired a new position in Spirit Airlines during the 1st quarter valued at about $68,000. Institutional investors own 58.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Raymond James downgraded Spirit Airlines from a “market perform” rating to an “underperform” rating in a report on Friday, July 5th. Susquehanna decreased their price target on shares of Spirit Airlines from $3.00 to $2.50 and set a “negative” rating for the company in a report on Tuesday, July 16th. Barclays dropped their price objective on shares of Spirit Airlines from $4.00 to $3.00 and set an “underweight” rating on the stock in a report on Wednesday, July 10th. Bank of America reduced their target price on Spirit Airlines from $3.25 to $2.75 and set an “underperform” rating for the company in a research note on Wednesday, July 17th. Finally, TD Cowen lowered Spirit Airlines from a “hold” rating to a “sell” rating and dropped their target price for the company from $3.00 to $2.00 in a research report on Wednesday, July 17th. Eight equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to data from MarketBeat, Spirit Airlines currently has an average rating of “Reduce” and an average target price of $2.64.

Spirit Airlines Stock Performance

Shares of SAVE traded up $0.02 during mid-day trading on Tuesday, reaching $2.54. The company had a trading volume of 2,693,499 shares, compared to its average volume of 10,321,177. The stock has a 50 day moving average of $3.23 and a two-hundred day moving average of $4.28. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 3.86. The stock has a market capitalization of $278.13 million, a P/E ratio of -0.57 and a beta of 1.41. Spirit Airlines, Inc. has a 52-week low of $2.49 and a 52-week high of $17.94.

Spirit Airlines (NYSE:SAVE) last released its quarterly earnings data on Thursday, August 1st. The company reported ($1.44) EPS for the quarter, missing the consensus estimate of ($1.30) by ($0.14). The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Spirit Airlines had a negative return on equity of 57.87% and a negative net margin of 13.20%. The company’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.29 EPS. On average, analysts expect that Spirit Airlines, Inc. will post -6.23 earnings per share for the current year.

Spirit Airlines Company Profile

Spirit Airlines, Inc provides airline services. The company also offers hotels and rental cars services. It serves 93 destinations in 15 countries in the United States, Latin America, and the Caribbean. As of December 31, 2023, the company operated a fleet of 205 Airbus single-aisle aircraft. The company was formerly known as Clippert Trucking Company and changed its name to Spirit Airlines, Inc in 1992.