Jump Financial LLC Cuts Stock Position in Spirit Airlines, Inc. (NYSE:SAVE)

Jump Financial LLC cut its holdings in Spirit Airlines, Inc. (NYSE:SAVE) by 45.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,097 shares of the company’s stock after selling 26,310 shares during the quarter. Jump Financial LLC’s holdings in Spirit Airlines were worth $947,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Evoke Wealth LLC purchased a new stake in shares of Spirit Airlines during the first quarter worth approximately $25,000. Captrust Financial Advisors acquired a new position in Spirit Airlines during the first quarter worth $26,000. Credit Agricole S A acquired a new position in Spirit Airlines during the first quarter worth $28,000. Harvest Fund Management Co. Ltd acquired a new position in Spirit Airlines during the first quarter worth $29,000. Finally, Tradition Wealth Management LLC acquired a new position in Spirit Airlines during the first quarter worth $30,000. Institutional investors and hedge funds own 62.98% of the company’s stock.

Shares of SAVE opened at $24.69 on Thursday. The stock’s 50-day moving average is $25.23 and its two-hundred day moving average is $30.52. The stock has a market cap of $2.68 billion, a PE ratio of -3.76 and a beta of 1.69. Spirit Airlines, Inc. has a 12 month low of $15.45 and a 12 month high of $40.77. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.49 and a quick ratio of 1.49.

Spirit Airlines (NYSE:SAVE) last announced its earnings results on Tuesday, July 27th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.87) by $0.53. The business had revenue of $859.31 million for the quarter, compared to analyst estimates of $818.67 million. Spirit Airlines had a negative return on equity of 29.21% and a negative net margin of 29.57%. On average, research analysts anticipate that Spirit Airlines, Inc. will post -3.12 earnings per share for the current year.

Several equities analysts have recently commented on SAVE shares. Evercore ISI reaffirmed a “hold” rating and issued a $35.00 price target on shares of Spirit Airlines in a research note on Thursday, August 12th. JPMorgan Chase & Co. downgraded Spirit Airlines from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $43.00 to $34.00 in a report on Friday, October 1st. Citigroup dropped their price objective on Spirit Airlines from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, September 22nd. The Goldman Sachs Group decreased their target price on Spirit Airlines from $35.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, October 6th. Finally, Stifel Nicolaus decreased their price objective on Spirit Airlines from $33.00 to $28.00 and set a “hold” rating for the company in a research report on Tuesday, August 17th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $33.94.

Spirit Airlines Profile

Spirit Airlines, Inc is an airline that offers travel to price-conscious customers. Its customers start with an unbundled base fares that remove components included in the price of an airline ticket. The company was founded by Ned Homfeld in 1964 and is headquartered in Miramar, FL.

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

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