Sandia Holdings LLC bought a new stake in shares of Spirit Airlines, Inc. (NASDAQ:SAVE) during the fourth quarter, Holdings Channel reports. The firm bought 218,146 shares of the company’s stock, valued at approximately $12,622,000. Spirit Airlines accounts for about 6.8% of Sandia Holdings LLC’s holdings, making the stock its 4th largest position. Sandia Holdings LLC owned about 0.31% of Spirit Airlines at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of SAVE. Middleton & Co Inc MA raised its position in Spirit Airlines by 0.3% in the third quarter. Middleton & Co Inc MA now owns 17,360 shares of the company’s stock valued at $738,000 after buying an additional 45 shares during the period. Stanley Laman Group Ltd. raised its position in Spirit Airlines by 0.3% in the third quarter. Stanley Laman Group Ltd. now owns 20,344 shares of the company’s stock valued at $865,000 after buying an additional 61 shares during the period. Independent Portfolio Consultants Inc. raised its position in Spirit Airlines by 5.2% in the third quarter. Independent Portfolio Consultants Inc. now owns 3,511 shares of the company’s stock valued at $149,000 after buying an additional 175 shares during the period. Legal & General Group Plc raised its position in Spirit Airlines by 9.5% in the second quarter. Legal & General Group Plc now owns 2,468 shares of the company’s stock valued at $111,000 after buying an additional 215 shares during the period. Finally, Teacher Retirement System of Texas raised its position in Spirit Airlines by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 2,515 shares of the company’s stock valued at $113,000 after buying an additional 302 shares during the period. 96.91% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Spirit Airlines, Inc. (NASDAQ:SAVE) traded up 0.89% during midday trading on Monday, reaching $54.36. 924,876 shares of the company were exchanged. The company’s 50-day moving average price is $55.80 and its 200 day moving average price is $48.56. Spirit Airlines, Inc. has a 52-week low of $37.17 and a 52-week high of $60.40. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 14.46 and a beta of 0.78.
Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings results on Tuesday, February 7th. The company reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.03. The business earned $578.40 million during the quarter, compared to the consensus estimate of $578.35 million. Spirit Airlines had a net margin of 11.41% and a return on equity of 22.22%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.02 EPS. On average, equities analysts predict that Spirit Airlines, Inc. will post $3.99 earnings per share for the current year.
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Several equities analysts have issued reports on SAVE shares. Cowen and Company raised their price objective on Spirit Airlines from $58.00 to $59.00 and gave the stock a “market perform” rating in a report on Wednesday, February 8th. Zacks Investment Research raised Spirit Airlines from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Thursday, January 12th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Spirit Airlines in a report on Friday, December 16th. Deutsche Bank AG raised their price objective on Spirit Airlines from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, October 26th. Finally, Vetr raised Spirit Airlines from a “buy” rating to a “strong-buy” rating and set a $51.50 price objective on the stock in a report on Tuesday, October 18th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $60.14.
In other Spirit Airlines news, VP Edmundo Miranda sold 4,600 shares of the company’s stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $59.42, for a total value of $273,332.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Robert Schroeter sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $53.76, for a total transaction of $188,160.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,961 shares of company stock valued at $1,034,489. 0.26% of the stock is owned by insiders.
About Spirit Airlines
Spirit Airlines, Inc is an airline company. The Company’s all-Airbus fleet operates more than 385 daily flights to 56 destinations in the United States, Caribbean and Latin America. Its ultra-low-cost carrier (ULCC) business model provides low, unbundled base fares that remove components traditionally included in the price of an airline ticket.
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