Spirit Airlines, Inc. (NASDAQ:SAVE) Director H. Mcintyre Gardner bought 5,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was purchased at an average cost of $33.78 per share, for a total transaction of $168,900.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Shares of Spirit Airlines, Inc. (SAVE) opened at 32.63 on Wednesday. The firm has a market cap of $2.26 billion, a P/E ratio of 9.46 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 issued its earnings results on Thursday, July 27th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.03. Spirit Airlines had a net margin of 9.62% and a return on equity of 17.96%. The business had revenue of $701.68 million for the quarter, compared to analysts’ expectations of $702.29 million. During the same quarter in the previous year, the firm posted $1.11 EPS. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, analysts predict that Spirit Airlines, Inc. will post $3.19 EPS for the current year.

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A number of hedge funds have recently modified their holdings of the business. Sentry Investment Management LLC raised its holdings in Spirit Airlines by 1.7% during the 2nd quarter. Sentry Investment Management LLC now owns 54,044 shares of the transportation company’s stock valued at $2,791,000 after acquiring an additional 888 shares during the period. U S Global Investors Inc. raised its holdings in Spirit Airlines by 77.4% during the 2nd quarter. U S Global Investors Inc. now owns 92,046 shares of the transportation company’s stock valued at $3,574,000 after acquiring an additional 40,169 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Spirit Airlines during the 2nd quarter valued at $1,000,000. Verition Fund Management LLC bought a new stake in Spirit Airlines during the 2nd quarter valued at $1,407,000. Finally, Rockshelter Capital Management LLC raised its holdings in Spirit Airlines by 3.2% during the 2nd quarter. Rockshelter Capital Management LLC now owns 256,478 shares of the transportation company’s stock valued at $13,247,000 after acquiring an additional 7,985 shares during the period. 96.99% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently commented on SAVE. J P Morgan Chase & Co downgraded Spirit Airlines from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $45.00 to $37.00 in a research report 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 on the stock in a research report on Wednesday, September 6th. ValuEngine downgraded Spirit Airlines from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Morgan Stanley reaffirmed an “equal weight” rating and issued a $45.00 target price (down previously from $46.00) on shares of Spirit Airlines in a research report on Friday, September 1st. Finally, Cowen and Company reaffirmed a “hold” rating and issued a $45.00 target price on shares of Spirit Airlines in a research report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Spirit Airlines presently has an average rating of “Hold” and a consensus price target of $50.59.

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.

Insider Buying and Selling by Quarter for Spirit Airlines (NASDAQ:SAVE)

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