Spirit Airlines, Inc. (SAVE) VP John A. Bendoraitis Sells 2,340 Shares of Stock
Spirit Airlines, Inc. (NASDAQ:SAVE) VP John A. Bendoraitis sold 2,340 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $42.92, for a total value of $100,432.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Spirit Airlines, Inc. (NASDAQ:SAVE) traded up $0.75 during trading on Friday, reaching $43.64. The company had a trading volume of 1,762,653 shares, compared to its average volume of 1,483,781. The company has a market capitalization of $2,975.42, a price-to-earnings ratio of 12.77, a P/E/G ratio of 1.74 and a beta of 0.75. Spirit Airlines, Inc. has a 1-year low of $30.32 and a 1-year high of $60.40. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.
Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings results on Thursday, October 26th. The transportation company reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.04. The business had revenue of $687.20 million for the quarter, compared to analyst estimates of $686.13 million. Spirit Airlines had a return on equity of 15.86% and a net margin of 8.55%. Spirit Airlines’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company posted $1.24 earnings per share. research analysts anticipate that Spirit Airlines, Inc. will post 3.08 EPS for the current fiscal year.
Spirit Airlines announced that its Board of Directors has initiated a stock buyback plan on Thursday, October 26th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the transportation company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
A number of research analysts have recently weighed in on the company. ValuEngine upgraded Spirit Airlines from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Stephens began coverage on Spirit Airlines in a report on Wednesday, November 29th. They issued an “overweight” rating and a $50.00 target price on the stock. Zacks Investment Research upgraded Spirit Airlines from a “sell” rating to a “hold” rating in a report on Friday, November 10th. J P Morgan Chase & Co lowered Spirit Airlines from a “neutral” rating to an “underweight” rating and set a $39.00 price target on the stock. in a report on Wednesday, November 1st. Finally, Buckingham Research lifted their price target on Spirit Airlines from $31.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $41.75.
Several institutional investors and hedge funds have recently modified their holdings of the business. California Public Employees Retirement System raised its stake in shares of Spirit Airlines by 2.8% in the third quarter. California Public Employees Retirement System now owns 141,263 shares of the transportation company’s stock valued at $4,720,000 after buying an additional 3,863 shares during the period. U S Global Investors Inc. raised its stake in shares of Spirit Airlines by 53.1% in the third quarter. U S Global Investors Inc. now owns 140,897 shares of the transportation company’s stock valued at $4,706,000 after buying an additional 48,851 shares during the period. Janus Henderson Group PLC raised its stake in shares of Spirit Airlines by 96.2% in the third quarter. Janus Henderson Group PLC now owns 24,510 shares of the transportation company’s stock valued at $819,000 after buying an additional 12,015 shares during the period. Royce & Associates LP raised its stake in shares of Spirit Airlines by 30.2% in the third quarter. Royce & Associates LP now owns 553,265 shares of the transportation company’s stock valued at $18,485,000 after buying an additional 128,481 shares during the period. Finally, Mackenzie Financial Corp raised its stake in shares of Spirit Airlines by 8.8% in the third quarter. Mackenzie Financial Corp now owns 1,774,332 shares of the transportation company’s stock valued at $59,280,000 after buying an additional 143,817 shares during the period.
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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.
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