State Street Corp reduced its stake in shares of Spirit Airlines, Inc. (NASDAQ:SAVE) by 1.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 954,661 shares of the transportation company’s stock after selling 12,984 shares during the period. State Street Corp owned 1.38% of Spirit Airlines worth $50,667,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of the stock. James Investment Research Inc. bought a new stake in Spirit Airlines during the first quarter valued at $137,000. Envestnet Asset Management Inc. boosted its stake in shares of Spirit Airlines by 2.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,731 shares of the transportation company’s stock valued at $216,000 after buying an additional 92 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Spirit Airlines during the first quarter valued at approximately $346,000. Parkwood LLC boosted its stake in shares of Spirit Airlines by 24.9% in the first quarter. Parkwood LLC now owns 6,675 shares of the transportation company’s stock valued at $354,000 after buying an additional 1,332 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new stake in shares of Spirit Airlines during the first quarter valued at approximately $368,000. Hedge funds and other institutional investors own 98.47% of the company’s stock.
Spirit Airlines, Inc. (NASDAQ:SAVE) traded down 0.30% during mid-day trading on Friday, reaching $36.70. 1,104,246 shares of the company’s stock traded hands. The company has a 50 day moving average price of $45.26 and a 200-day moving average price of $51.61. The stock has a market cap of $2.55 billion, a P/E ratio of 10.64 and a beta of 0.57. Spirit Airlines, Inc. has a 12 month low of $36.43 and a 12 month high of $60.40.
Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.03. The business had revenue of $701.68 million for the quarter, compared to analysts’ expectations of $702.29 million. Spirit Airlines had a return on equity of 17.96% and a net margin of 9.62%. The business’s revenue was up 20.1% on a year-over-year basis. During the same period last year, the business earned $1.11 EPS. On average, analysts anticipate that Spirit Airlines, Inc. will post $3.61 EPS for the current year.
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Several equities research analysts have recently commented on the stock. Morgan Stanley lowered their price target on shares of Spirit Airlines from $54.00 to $46.00 and set an “equal weight” rating for the company in a research report on Thursday. Zacks Investment Research cut shares of Spirit Airlines from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Barclays PLC lowered their price target on shares of Spirit Airlines from $67.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, August 14th. TheStreet cut shares of Spirit Airlines from a “b-” rating to a “c+” rating in a research report on Monday, August 7th. Finally, J P Morgan Chase & Co upgraded shares of Spirit Airlines from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $56.00 to $45.00 in a report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $52.71.
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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