Impala Asset Management LLC acquired a new stake in Spirit Airlines, Inc. (NASDAQ:SAVE) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 113,308 shares of the transportation company’s stock, valued at approximately $5,852,000. Impala Asset Management LLC owned approximately 0.16% of Spirit Airlines as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SAVE. Canada Pension Plan Investment Board increased its holdings in Spirit Airlines by 58.4% in the first quarter. Canada Pension Plan Investment Board now owns 44,200 shares of the transportation company’s stock valued at $2,346,000 after buying an additional 16,300 shares in the last quarter. Empire Life Investments Inc. increased its holdings in Spirit Airlines by 7.4% in the first quarter. Empire Life Investments Inc. now owns 82,740 shares of the transportation company’s stock valued at $3,654,000 after buying an additional 5,689 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Spirit Airlines by 3.3% in the first quarter. Bank of New York Mellon Corp now owns 323,709 shares of the transportation company’s stock valued at $17,179,000 after buying an additional 10,452 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in Spirit Airlines by 286.9% in the first quarter. BNP Paribas Arbitrage SA now owns 13,271 shares of the transportation company’s stock valued at $704,000 after buying an additional 9,841 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new position in Spirit Airlines in the first quarter valued at $368,000. 97.00% of the stock is owned by institutional investors.

Spirit Airlines, Inc. (NASDAQ:SAVE) traded down 3.27% during mid-day trading on Friday, hitting $33.69. 3,111,679 shares of the stock were exchanged. The company has a 50-day moving average price of $36.30 and a 200-day moving average price of $49.06. The company has a market cap of $2.34 billion, a P/E ratio of 9.77 and a beta of 0.62. Spirit Airlines, Inc. has a one year low of $30.32 and a one year high of $60.40.

Spirit Airlines (NASDAQ:SAVE) last announced its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.03. The business had revenue of $701.68 million during the quarter, compared to the consensus estimate of $702.29 million. Spirit Airlines had a net margin of 9.62% and a return on equity of 17.96%. The business’s revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.11 EPS. Analysts forecast that Spirit Airlines, Inc. will post $3.19 earnings per share for the current fiscal year.

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SAVE has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Spirit Airlines from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $45.00 price objective (down previously from $46.00) on shares of Spirit Airlines in a report on Friday, September 1st. BidaskClub cut shares of Spirit Airlines from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Buckingham Research cut shares of Spirit Airlines from a “buy” rating to a “neutral” rating in a report on Friday, July 28th. Finally, ValuEngine cut shares of Spirit Airlines from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Spirit Airlines presently has a consensus rating of “Hold” and an average price target of $50.59.

Spirit Airlines 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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Institutional Ownership by Quarter for Spirit Airlines (NASDAQ:SAVE)

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