Sun Country Airlines (NASDAQ:SNCY) Shares Gap Down Following Weak Earnings

Shares of Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) gapped down before the market opened on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $14.06, but opened at $12.52. Sun Country Airlines shares last traded at $13.28, with a volume of 69,817 shares changing hands.

The company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.02). The business had revenue of $311.50 million for the quarter, compared to the consensus estimate of $316.23 million. Sun Country Airlines had a net margin of 6.88% and a return on equity of 15.23%. Sun Country Airlines’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 EPS.

Analyst Ratings Changes

SNCY has been the subject of a number of analyst reports. TD Cowen lowered their target price on shares of Sun Country Airlines from $22.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday. Morgan Stanley raised Sun Country Airlines from an “equal weight” rating to an “overweight” rating and set a $21.00 price target on the stock in a research note on Monday, February 26th. Susquehanna reaffirmed a “neutral” rating and set a $15.00 price objective (down previously from $17.00) on shares of Sun Country Airlines in a research report on Wednesday, January 10th. Finally, Barclays boosted their target price on shares of Sun Country Airlines from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, February 5th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.17.

Insider Transactions at Sun Country Airlines

In related news, CEO Jude Bricker sold 2,145 shares of Sun Country Airlines stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $14.35, for a total value of $30,780.75. Following the completion of the sale, the chief executive officer now owns 124,991 shares of the company’s stock, valued at approximately $1,793,620.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold 5,073 shares of company stock valued at $72,944 over the last ninety days. 3.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sun Country Airlines

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Sun Country Airlines by 3.7% during the third quarter. Vanguard Group Inc. now owns 4,209,412 shares of the company’s stock valued at $62,468,000 after buying an additional 150,735 shares during the last quarter. Boston Partners grew its stake in shares of Sun Country Airlines by 95.7% in the 3rd quarter. Boston Partners now owns 109,038 shares of the company’s stock worth $1,618,000 after acquiring an additional 53,320 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Sun Country Airlines by 1.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 313,627 shares of the company’s stock worth $4,654,000 after acquiring an additional 3,748 shares in the last quarter. Illinois Municipal Retirement Fund lifted its position in shares of Sun Country Airlines by 3.7% during the fourth quarter. Illinois Municipal Retirement Fund now owns 21,711 shares of the company’s stock valued at $342,000 after purchasing an additional 776 shares in the last quarter. Finally, Strs Ohio purchased a new position in Sun Country Airlines during the third quarter worth about $247,000.

Sun Country Airlines Stock Up 0.7 %

The stock’s 50-day simple moving average is $14.22 and its 200-day simple moving average is $14.52. The company has a current ratio of 0.65, a quick ratio of 0.63 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $608.57 million, a P/E ratio of 9.29, a P/E/G ratio of 0.47 and a beta of 1.63.

Sun Country Airlines Company Profile

Sun Country Airlines Holdings, Inc, an air carrier company, operates scheduled passenger, air cargo, charter air transportation, and related services in the United States, Latin America, and internationally. It operates through two segments, Passenger and Cargo. The company also provides crew, maintenance, and insurance services through ad hoc, repeat, short-term, and long-term service contracts; and loyalty program rewards.