Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) Sees Significant Growth in Short Interest

Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) was the target of a significant growth in short interest in March. As of March 13th, there was short interest totaling 4,697,629 shares, a growth of 30.5% from the February 26th total of 3,601,082 shares. Currently, 9.3% of the shares of the stock are short sold. Based on an average daily volume of 1,262,594 shares, the short-interest ratio is currently 3.7 days.

Insider Transactions at Sun Country Airlines

In related news, SVP Stephen Andrew Coley sold 2,052 shares of the stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $15.09, for a total value of $30,964.68. Following the completion of the transaction, the senior vice president directly owned 45,040 shares of the company’s stock, valued at approximately $679,653.60. This represents a 4.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Erin Rose Neale sold 2,257 shares of the company’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $17.53, for a total transaction of $39,565.21. Following the sale, the senior vice president directly owned 38,931 shares of the company’s stock, valued at $682,460.43. The trade was a 5.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 20,755 shares of company stock valued at $334,558 over the last 90 days. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Sun Country Airlines

Large investors have recently bought and sold shares of the stock. Apollo Management Holdings L.P. purchased a new stake in Sun Country Airlines in the second quarter valued at $6,821,000. Exchange Traded Concepts LLC purchased a new position in shares of Sun Country Airlines during the third quarter worth about $1,098,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Sun Country Airlines during the third quarter worth about $858,000. Primecap Management Co. CA increased its position in shares of Sun Country Airlines by 74.5% during the third quarter. Primecap Management Co. CA now owns 143,115 shares of the company’s stock worth $1,690,000 after purchasing an additional 61,100 shares in the last quarter. Finally, Frontier Capital Management Co. LLC lifted its holdings in shares of Sun Country Airlines by 53.3% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 3,533,617 shares of the company’s stock valued at $41,520,000 after purchasing an additional 1,228,721 shares during the last quarter.

Sun Country Airlines Stock Up 4.6%

Shares of SNCY stock traded up $0.73 during trading on Tuesday, reaching $16.60. The company’s stock had a trading volume of 328,109 shares, compared to its average volume of 1,392,455. Sun Country Airlines has a 1-year low of $8.10 and a 1-year high of $22.29. The stock’s 50-day moving average price is $18.31 and its 200 day moving average price is $15.04. The company has a market capitalization of $883.19 million, a price-to-earnings ratio of 17.32, a P/E/G ratio of 0.37 and a beta of 1.55. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.82 and a quick ratio of 0.79.

Sun Country Airlines (NASDAQ:SNCY) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.13 by $0.04. The company had revenue of $280.96 million during the quarter, compared to analysts’ expectations of $272.98 million. Sun Country Airlines had a net margin of 4.69% and a return on equity of 8.92%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.27 EPS. On average, research analysts anticipate that Sun Country Airlines will post 1.92 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SNCY. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $19.00 target price (down from $22.00) on shares of Sun Country Airlines in a research note on Tuesday, January 13th. Zacks Research raised shares of Sun Country Airlines from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 12th. Wolfe Research lowered shares of Sun Country Airlines from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 20th. TD Cowen reaffirmed a “hold” rating on shares of Sun Country Airlines in a research report on Tuesday, February 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Sun Country Airlines in a report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Sun Country Airlines has an average rating of “Hold” and an average price target of $20.00.

Sun Country Airlines Company Profile

Sun Country Airlines (NASDAQ: SNCY) is an American ultra-low-cost carrier providing a blend of scheduled and charter passenger services. The carrier focuses on leisure markets, offering nonstop flights to sun and ski destinations across the United States, Mexico and the Caribbean. In addition to its scheduled network, Sun Country operates charter services for sports teams, corporate groups and tour operators, as well as seasonal cargo charters that support e-commerce peak periods.

Founded in 1982 and headquartered in Minneapolis, Minnesota, Sun Country has navigated multiple ownership and restructuring phases.