Grandeur Peak Global Advisors LLC boosted its stake in shares of Spirit Airlines, Inc. (NASDAQ:SAVE) by 0.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,700 shares of the transportation company’s stock after buying an additional 400 shares during the period. Grandeur Peak Global Advisors LLC’s holdings in Spirit Airlines were worth $5,344,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of SAVE. Thomas J. Herzfeld Advisors Inc. bought a new position in Spirit Airlines during the fourth quarter valued at $1,504,000. Castleark Management LLC bought a new position in Spirit Airlines during the fourth quarter valued at $11,997,000. Teachers Retirement System of The State of Kentucky raised its position in Spirit Airlines by 12.7% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 56,433 shares of the transportation company’s stock valued at $3,265,000 after buying an additional 6,379 shares in the last quarter. AQR Capital Management LLC raised its position in Spirit Airlines by 49.7% in the fourth quarter. AQR Capital Management LLC now owns 12,710 shares of the transportation company’s stock valued at $735,000 after buying an additional 4,218 shares in the last quarter. Finally, Guggenheim Capital LLC raised its position in Spirit Airlines by 6.5% in the fourth quarter. Guggenheim Capital LLC now owns 40,824 shares of the transportation company’s stock valued at $2,362,000 after buying an additional 2,479 shares in the last quarter.
Shares of Spirit Airlines, Inc. (NASDAQ:SAVE) traded down 0.53% on Thursday, hitting $52.53. 773,283 shares of the stock traded hands. Spirit Airlines, Inc. has a 52 week low of $37.17 and a 52 week high of $60.40. The firm’s 50 day moving average is $55.02 and its 200 day moving average is $54.75. The firm has a market capitalization of $3.64 billion, a PE ratio of 15.61 and a beta of 0.56.
Spirit Airlines (NASDAQ:SAVE) last posted its quarterly earnings data on Friday, April 28th. The transportation company reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.02. Spirit Airlines had a net margin of 9.89% and a return on equity of 18.60%. The company had revenue of $591.80 million for the quarter, compared to the consensus estimate of $591.31 million. During the same period last year, the company earned $1.01 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. On average, analysts expect that Spirit Airlines, Inc. will post $4.14 EPS for the current fiscal year.
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SAVE has been the topic of several research reports. Stifel Nicolaus reiterated a “buy” rating and issued a $75.00 price objective on shares of Spirit Airlines in a research note on Saturday, April 22nd. Deutsche Bank AG upped their price objective on shares of Spirit Airlines from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, April 14th. Zacks Investment Research upgraded shares of Spirit Airlines from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Thursday, March 2nd. Cowen and Company upped their price objective on shares of Spirit Airlines from $58.00 to $62.00 and gave the company a “market perform” rating in a research note on Tuesday, April 18th. Finally, Citigroup Inc. reiterated a “neutral” rating and issued a $60.00 price objective (up previously from $58.00) on shares of Spirit Airlines in a research note on Saturday, April 22nd. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $61.05.
In other news, VP Edmundo Miranda sold 3,131 shares of Spirit Airlines stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $59.39, for a total value of $185,950.09. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by company insiders.
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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