Gilder Gagnon Howe & Co. LLC reduced its holdings in shares of Spirit Airlines, Inc. (NASDAQ:SAVE) by 5.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 349,801 shares of the transportation company’s stock after selling 20,211 shares during the period. Gilder Gagnon Howe & Co. LLC owned about 0.50% of Spirit Airlines worth $11,687,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Spirit Airlines by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 5,438,753 shares of the transportation company’s stock worth $280,912,000 after buying an additional 73,982 shares during the period. BlackRock Inc. increased its position in shares of Spirit Airlines by 7,002.6% in the 1st quarter. BlackRock Inc. now owns 2,691,469 shares of the transportation company’s stock valued at $142,838,000 after purchasing an additional 2,653,575 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Spirit Airlines by 4.0% in the 2nd quarter. Franklin Resources Inc. now owns 2,128,314 shares of the transportation company’s stock valued at $109,927,000 after purchasing an additional 82,438 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of Spirit Airlines by 44.0% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 720,000 shares of the transportation company’s stock valued at $24,055,000 after purchasing an additional 220,000 shares during the last quarter. Finally, Calamos Advisors LLC increased its position in shares of Spirit Airlines by 107.0% in the 3rd quarter. Calamos Advisors LLC now owns 699,240 shares of the transportation company’s stock valued at $23,362,000 after purchasing an additional 361,478 shares during the last quarter. 92.85% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director H. Mcintyre Gardner purchased 5,000 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was acquired at an average price of $33.78 per share, for a total transaction of $168,900.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.33% of the company’s stock.
Shares of Spirit Airlines, Inc. (NASDAQ SAVE) traded up $0.98 on Wednesday, hitting $36.26. 1,354,300 shares of the stock were exchanged, compared to its average volume of 1,424,736. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a market cap of $2,447.49, a P/E ratio of 10.50, a PEG ratio of 1.43 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 the Zacks’ consensus estimate of $0.90 by $0.04. The business had revenue of $687.20 million during 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 revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.24 EPS. equities analysts forecast that Spirit Airlines, Inc. will post 3.08 EPS for the current fiscal year.
Spirit Airlines declared that its board has authorized a stock buyback plan on Thursday, October 26th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the transportation company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
Several research analysts have recently issued reports on SAVE shares. Cowen and Company restated a “market perform” rating and issued a $59.00 target price on shares of Spirit Airlines in a report on Tuesday, July 18th. BidaskClub cut shares of Spirit Airlines from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Morgan Stanley reiterated an “equal weight” rating and set a $56.00 price target (down previously from $60.00) on shares of Spirit Airlines in a research note on Tuesday, July 25th. Bank of America Corporation cut shares of Spirit Airlines from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $68.00 to $44.00 in a research note on Friday, July 28th. Finally, Buckingham Research cut shares of Spirit Airlines from a “buy” rating to a “neutral” rating in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $41.00.
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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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