Clinton Group Inc. Buys New Holdings in Spirit Airlines, Inc. (SAVE)
Clinton Group Inc. bought a new position in shares of Spirit Airlines, Inc. (NASDAQ:SAVE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 15,749 shares of the transportation company’s stock, valued at approximately $813,000.
Other large investors have also recently added to or reduced their stakes in the company. Advisor Group Inc. increased its stake in Spirit Airlines by 18.8% in the 2nd quarter. Advisor Group Inc. now owns 2,170 shares of the transportation company’s stock worth $113,000 after purchasing an additional 344 shares in the last quarter. Intact Investment Management Inc. acquired a new stake in Spirit Airlines during the 2nd quarter worth about $238,000. Ramsey Quantitative Systems acquired a new stake in Spirit Airlines during the 2nd quarter worth about $281,000. Oppenheimer Asset Management Inc. acquired a new stake in Spirit Airlines during the 1st quarter worth about $346,000. Finally, New Jersey Better Educational Savings Trust acquired a new stake in Spirit Airlines during the 2nd quarter worth about $362,000. 96.99% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on SAVE shares. Zacks Investment Research upgraded Spirit Airlines from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Morgan Stanley restated an “equal weight” rating and set a $45.00 price objective (down from $46.00) on shares of Spirit Airlines in a research report on Friday, September 1st. BidaskClub lowered Spirit Airlines from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Buckingham Research lowered Spirit Airlines from a “buy” rating to a “neutral” rating in a research report on Friday, July 28th. Finally, ValuEngine lowered Spirit Airlines from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $48.14.
Spirit Airlines, Inc. (NASDAQ:SAVE) opened at 35.19 on Friday. The company has a market capitalization of $2.44 billion, a P/E ratio of 10.20 and a beta of 0.66. The firm has a 50-day moving average price of $34.35 and a 200 day moving average price of $47.29. Spirit Airlines, Inc. has a 12 month low of $30.32 and a 12 month high of $60.40.
Spirit Airlines (NASDAQ:SAVE) last released its quarterly earnings data 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. Spirit Airlines had a return on equity of 17.96% and a net margin of 9.62%. The company had revenue of $701.68 million during the quarter, compared to analysts’ expectations of $702.29 million. During the same period last year, the firm posted $1.11 earnings per share. The business’s revenue was up 20.1% on a year-over-year basis. Analysts expect that Spirit Airlines, Inc. will post $2.98 EPS for the current year.
In other Spirit Airlines news, Director H. Mcintyre Gardner acquired 5,000 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was bought at an average cost of $33.78 per share, with a total value of $168,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.33% of the company’s stock.
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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