Spirit Airlines Incorporated (SAVE) Holdings Raised by First Mercantile Trust Co.
First Mercantile Trust Co. raised its position in Spirit Airlines Incorporated (NASDAQ:SAVE) by 11.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,062 shares of the transportation company’s stock after purchasing an additional 845 shares during the period. First Mercantile Trust Co.’s holdings in Spirit Airlines were worth $426,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in SAVE. Quadrant Capital Group LLC purchased a new stake in shares of Spirit Airlines in the 1st quarter valued at approximately $25,000. Penserra Capital Management LLC purchased a new stake in shares of Spirit Airlines in the 4th quarter valued at approximately $29,000. Captrust Financial Advisors increased its position in shares of Spirit Airlines by 162.5% in the 4th quarter. Captrust Financial Advisors now owns 1,008 shares of the transportation company’s stock valued at $58,000 after purchasing an additional 624 shares during the last quarter. Ffcm LLC increased its position in shares of Spirit Airlines by 2,695.4% in the 4th quarter. Ffcm LLC now owns 3,019 shares of the transportation company’s stock valued at $175,000 after purchasing an additional 2,911 shares during the last quarter. Finally, Gideon Capital Advisors Inc. purchased a new stake in shares of Spirit Airlines in the 4th quarter valued at approximately $204,000.
A number of equities research analysts have commented on SAVE shares. Macquarie set a $81.00 price objective on shares of Spirit Airlines and gave the company a “buy” rating in a research report on Tuesday, January 29th. Stephens reissued an “overweight” rating and issued a $78.00 price objective (up from $74.00) on shares of Spirit Airlines in a research report on Wednesday, February 6th. BidaskClub downgraded shares of Spirit Airlines from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Barclays upgraded shares of Spirit Airlines from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $65.00 to $70.00 in a report on Monday, March 11th. Finally, Imperial Capital lowered their target price on shares of Spirit Airlines from $92.00 to $83.00 and set an “outperform” rating for the company in a report on Thursday, March 28th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $69.33.
Spirit Airlines (NASDAQ:SAVE) last issued its earnings results on Wednesday, April 24th. The transportation company reported $0.84 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.84. The company had revenue of $855.80 million during the quarter, compared to analyst estimates of $855.77 million. The company’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.44 EPS.
In related news, Director Robert D. Johnson sold 750 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $56.68, for a total transaction of $42,510.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Laurie Villa sold 3,800 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $53.69, for a total transaction of $204,022.00. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.
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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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