Scott Haralson Sells 2,951 Shares of Spirit Airlines Inc. (SAVE) Stock
Spirit Airlines Inc. (NASDAQ:SAVE) VP Scott Haralson sold 2,951 shares of the stock in a transaction on Friday, November 11th. The shares were sold at an average price of $51.32, for a total value of $151,445.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of Spirit Airlines Inc. (NASDAQ:SAVE) opened at 52.88 on Wednesday. The firm’s 50-day moving average price is $46.14 and its 200-day moving average price is $43.08. Spirit Airlines Inc. has a 52-week low of $34.63 and a 52-week high of $55.10. The stock has a market cap of $3.67 billion, a P/E ratio of 12.93 and a beta of 0.76.
Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings data on Tuesday, October 25th. The company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.07. Spirit Airlines had a net margin of 12.85% and a return on equity of 24.09%. The firm earned $621.30 million during the quarter, compared to the consensus estimate of $611.52 million. During the same quarter in the previous year, the firm posted $1.35 EPS. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities analysts predict that Spirit Airlines Inc. will post $4.02 EPS for the current year.
Several large investors have recently modified their holdings of the stock. RS Investment Management Co. LLC increased its stake in shares of Spirit Airlines by 11.9% in the second quarter. RS Investment Management Co. LLC now owns 772,956 shares of the company’s stock worth $34,683,000 after buying an additional 82,317 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Spirit Airlines by 583.0% in the first quarter. Wellington Management Group LLP now owns 1,618,183 shares of the company’s stock worth $77,641,000 after buying an additional 1,381,250 shares during the last quarter. Virginia Retirement Systems ET AL acquired a new stake in shares of Spirit Airlines during the second quarter worth about $1,019,000. Artemis Investment Management LLP increased its stake in shares of Spirit Airlines by 31.1% in the second quarter. Artemis Investment Management LLP now owns 623,790 shares of the company’s stock worth $28,002,000 after buying an additional 148,133 shares during the last quarter. Finally, Cortina Asset Management LLC increased its stake in shares of Spirit Airlines by 17.4% in the second quarter. Cortina Asset Management LLC now owns 220,086 shares of the company’s stock worth $9,875,000 after buying an additional 32,689 shares during the last quarter. 97.77% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on SAVE shares. Vetr lowered Spirit Airlines from a “strong-buy” rating to a “buy” rating and set a $48.00 price objective for the company. in a report on Monday, October 17th. Deutsche Bank AG reduced their price objective on Spirit Airlines from $56.00 to $52.00 and set a “buy” rating for the company in a report on Monday, August 1st. Citigroup Inc. reissued a “buy” rating and set a $56.00 price objective on shares of Spirit Airlines in a report on Tuesday, July 19th. Credit Suisse Group AG set a $55.00 price objective on Spirit Airlines and gave the company a “buy” rating in a report on Tuesday, September 13th. Finally, Zacks Investment Research raised Spirit Airlines from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 17th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $56.04.
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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