Canada Pension Plan Investment Board increased its holdings in Spirit Airlines, Inc. (NASDAQ:SAVE) by 39.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,100 shares of the transportation company’s stock after acquiring an additional 22,500 shares during the quarter. Canada Pension Plan Investment Board owned about 0.12% of Spirit Airlines worth $2,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. The Manufacturers Life Insurance Company increased its stake in shares of Spirit Airlines by 7.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,160 shares of the transportation company’s stock worth $112,000 after acquiring an additional 141 shares in the last quarter. Aperio Group LLC increased its stake in Spirit Airlines by 4.6% during the 2nd quarter. Aperio Group LLC now owns 7,260 shares of the transportation company’s stock valued at $375,000 after purchasing an additional 322 shares in the last quarter. Advisor Group Inc. increased its stake in Spirit Airlines by 18.8% during the 2nd quarter. Advisor Group Inc. now owns 2,170 shares of the transportation company’s stock valued at $113,000 after purchasing an additional 344 shares in the last quarter. Sentry Investment Management LLC increased its stake 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 purchasing an additional 888 shares in the last quarter. Finally, Pacer Advisors Inc. increased its stake in Spirit Airlines by 12.0% during the 2nd quarter. Pacer Advisors Inc. now owns 9,222 shares of the transportation company’s stock valued at $476,000 after purchasing an additional 989 shares in the last quarter. Institutional investors own 92.85% of the company’s stock.

In other Spirit Airlines news, Director H. Mcintyre Gardner acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were bought at an average price 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 is available at this hyperlink. Company insiders own 0.33% of the company’s stock.

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Shares of Spirit Airlines, Inc. (NASDAQ:SAVE) opened at $36.39 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a market cap of $2,580.00, a PE ratio of 10.79, a PEG ratio of 1.47 and a beta of 0.71. Spirit Airlines, Inc. has a 1-year low of $30.32 and a 1-year high of $60.40.

Spirit Airlines (NASDAQ:SAVE) last announced its quarterly earnings results on Thursday, October 26th. The transportation company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. The firm had revenue of $687.20 million for the quarter, compared to the consensus estimate of $686.13 million. Spirit Airlines had a net margin of 8.55% and a return on equity of 15.86%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.24 EPS. sell-side analysts forecast that Spirit Airlines, Inc. will post 3.08 earnings per share for the current year.

Spirit Airlines declared that its board has initiated a share repurchase program on Thursday, October 26th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the transportation company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

SAVE has been the subject of a number of analyst reports. Deutsche Bank AG restated a “buy” rating and set a $54.00 price objective (down from $69.00) on shares of Spirit Airlines in a research note on Sunday, July 30th. Morgan Stanley restated an “equal weight” rating and set a $56.00 price objective (down from $60.00) on shares of Spirit Airlines in a research note on Tuesday, July 25th. Zacks Investment Research upgraded shares of Spirit Airlines from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Stifel Nicolaus restated a “buy” rating and set a $55.00 price objective (down from $75.00) on shares of Spirit Airlines in a research note on Sunday, July 30th. Finally, Buckingham Research raised their price objective on shares of Spirit Airlines from $31.00 to $37.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. Spirit Airlines currently has an average rating of “Hold” and an average target price of $41.00.

About Spirit Airlines

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.

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

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