UBS Oconnor LLC Sells 38,746 Shares of Spirit Airlines, Inc. (SAVE)
UBS Oconnor LLC decreased its stake in Spirit Airlines, Inc. (NASDAQ:SAVE) by 13.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 257,613 shares of the transportation company’s stock after selling 38,746 shares during the period. UBS Oconnor LLC owned 0.37% of Spirit Airlines worth $13,306,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. grew its stake in Spirit Airlines by 26.0% during the first quarter. Principal Financial Group Inc. now owns 11,995 shares of the transportation company’s stock worth $637,000 after purchasing an additional 2,473 shares during the period. Public Employees Retirement System of Ohio grew its stake in Spirit Airlines by 0.3% during the first quarter. Public Employees Retirement System of Ohio now owns 96,711 shares of the transportation company’s stock worth $5,132,000 after purchasing an additional 246 shares during the period. Pacer Advisors Inc. grew its stake in Spirit Airlines by 22.3% during the first quarter. Pacer Advisors Inc. now owns 8,233 shares of the transportation company’s stock worth $437,000 after purchasing an additional 1,500 shares during the period. Heartland Advisors Inc. grew its stake in Spirit Airlines by 70.9% during the second quarter. Heartland Advisors Inc. now owns 140,822 shares of the transportation company’s stock worth $7,273,000 after purchasing an additional 58,405 shares during the period. Finally, Rockshelter Capital Management LLC grew its stake in Spirit Airlines by 0.3% during the first quarter. Rockshelter Capital Management LLC now owns 248,493 shares of the transportation company’s stock worth $13,188,000 after purchasing an additional 625 shares during the period. 96.99% of the stock is owned by institutional investors.
Several research firms recently commented on SAVE. Stifel Nicolaus reaffirmed a “buy” rating and set a $55.00 target price on shares of Spirit Airlines in a research note on Thursday. Macquarie began coverage on Spirit Airlines in a research note on Monday, September 25th. They set a “neutral” rating and a $33.00 target price for the company. J P Morgan Chase & Co cut Spirit Airlines from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $45.00 to $37.00 in a research note on Friday, September 15th. Deutsche Bank AG decreased their target price 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, ValuEngine cut Spirit Airlines from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $49.13.
Shares of Spirit Airlines, Inc. (NASDAQ SAVE) traded down 0.36% on Friday, reaching $33.41. The company’s stock had a trading volume of 1,197,901 shares. The company has a market cap of $2.32 billion, a P/E ratio of 9.68 and a beta of 0.62. The company’s 50 day moving average price is $35.93 and its 200 day moving average price is $48.73. Spirit Airlines, Inc. has a 12-month low of $30.32 and a 12-month high of $60.40.
Spirit Airlines (NASDAQ:SAVE) last posted its earnings results on Thursday, July 27th. The transportation company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.03. Spirit Airlines had a return on equity of 17.96% and a net margin of 9.62%. The firm had revenue of $701.68 million for the quarter, compared to the consensus estimate of $702.29 million. During the same quarter in the prior year, the business earned $1.11 EPS. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. Analysts forecast that Spirit Airlines, Inc. will post $3.02 EPS for the current fiscal year.
In other news, Director H. Mcintyre Gardner bought 5,000 shares of Spirit Airlines stock in a transaction on Friday, September 15th. The shares were purchased at an average price of $33.78 per share, for a total transaction of $168,900.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.33% of the stock is currently owned by corporate insiders.
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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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