Royce & Associates LP reduced its position in shares of Spirit Airlines Incorporated (NASDAQ:SAVE) by 59.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 263,894 shares of the transportation company’s stock after selling 383,338 shares during the period. Royce & Associates LP’s holdings in Spirit Airlines were worth $12,395,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Strs Ohio purchased a new position in Spirit Airlines during the second quarter worth about $105,000. Point72 Hong Kong Ltd raised its holdings in Spirit Airlines by 147.4% during the second quarter. Point72 Hong Kong Ltd now owns 2,904 shares of the transportation company’s stock worth $106,000 after purchasing an additional 1,730 shares in the last quarter. Sei Investments Co. raised its holdings in Spirit Airlines by 127.9% during the second quarter. Sei Investments Co. now owns 3,934 shares of the transportation company’s stock worth $143,000 after purchasing an additional 2,208 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Spirit Airlines by 286.2% during the second quarter. BNP Paribas Arbitrage SA now owns 4,445 shares of the transportation company’s stock worth $162,000 after purchasing an additional 3,294 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Spirit Airlines during the third quarter worth about $206,000.

Shares of Spirit Airlines stock opened at $63.13 on Thursday. Spirit Airlines Incorporated has a 12-month low of $34.36 and a 12-month high of $65.35.

Spirit Airlines (NASDAQ:SAVE) last issued its earnings results on Wednesday, October 24th. The transportation company reported $1.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.03. The company had revenue of $904.33 million during the quarter, compared to analysts’ expectations of $904.05 million.

In other news, Director Robert D. Johnson sold 750 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $64.65, for a total transaction of $48,487.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rocky Wiggins sold 566 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $47.89, for a total transaction of $27,105.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,816 shares of company stock valued at $303,113. 0.33% of the stock is currently owned by corporate insiders.

Several research firms recently issued reports on SAVE. Credit Suisse Group raised shares of Spirit Airlines from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $59.00 to $77.00 in a report on Thursday. Buckingham Research set a $56.00 price target on shares of Spirit Airlines and gave the stock a “buy” rating in a report on Wednesday, October 10th. Imperial Capital increased their price target on shares of Spirit Airlines from $69.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, October 11th. Deutsche Bank increased their price target on shares of Spirit Airlines from $51.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, October 10th. Finally, Zacks Investment Research cut shares of Spirit Airlines from a “buy” rating to a “hold” rating in a report on Wednesday, September 12th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $61.25.

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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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