Spirit Airlines, Inc. (NASDAQ:SAVE) VP John A. Bendoraitis sold 2,340 shares of the company’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $42.92, for a total transaction of $100,432.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Spirit Airlines, Inc. (NASDAQ:SAVE) traded up $0.75 during mid-day trading on Friday, reaching $43.64. 1,762,653 shares of the company’s stock were exchanged, compared to its average volume of 1,483,781. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Spirit Airlines, Inc. has a one year low of $30.32 and a one year high of $60.40. The company has a market capitalization of $2,975.42, a PE ratio of 12.77, a price-to-earnings-growth ratio of 1.74 and a beta of 0.75.
Spirit Airlines (NASDAQ:SAVE) last released 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. Spirit Airlines had a net margin of 8.55% and a return on equity of 15.86%. The company had revenue of $687.20 million during the quarter, compared to analysts’ expectations of $686.13 million. During the same period in the prior year, the company earned $1.24 earnings per share. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. equities analysts forecast that Spirit Airlines, Inc. will post 3.08 earnings per share for the current fiscal year.
Spirit Airlines announced that its board has initiated a share buyback plan on Thursday, October 26th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the transportation company to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
A number of hedge funds have recently added to or reduced their stakes in the business. Schroder Investment Management Group lifted its stake in shares of Spirit Airlines by 67.2% in the third quarter. Schroder Investment Management Group now owns 1,319,480 shares of the transportation company’s stock valued at $44,242,000 after buying an additional 530,281 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Spirit Airlines by 29.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,930,412 shares of the transportation company’s stock valued at $64,495,000 after buying an additional 436,012 shares during the period. Calamos Advisors LLC lifted its stake in shares of Spirit Airlines by 107.0% in the third quarter. Calamos Advisors LLC now owns 699,240 shares of the transportation company’s stock valued at $23,362,000 after buying an additional 361,478 shares during the period. JPMorgan Chase & Co. raised its position in Spirit Airlines by 135.9% in the third quarter. JPMorgan Chase & Co. now owns 529,027 shares of the transportation company’s stock worth $17,738,000 after purchasing an additional 304,721 shares in the last quarter. Finally, Precocity Capital LP raised its position in Spirit Airlines by 166.7% in the third quarter. Precocity Capital LP now owns 400,000 shares of the transportation company’s stock worth $13,364,000 after purchasing an additional 250,000 shares in the last quarter.
A number of equities research analysts recently issued reports on the stock. ValuEngine upgraded shares of Spirit Airlines from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Stephens assumed coverage on shares of Spirit Airlines in a report on Wednesday, November 29th. They issued an “overweight” rating and a $50.00 price objective for the company. Stifel Nicolaus reiterated a “buy” rating and issued a $55.00 price objective on shares of Spirit Airlines in a report on Thursday, September 28th. Morgan Stanley decreased their price objective on shares of Spirit Airlines from $54.00 to $46.00 and set an “equal weight” rating for the company in a report on Thursday, August 17th. Finally, Macquarie assumed coverage on shares of Spirit Airlines in a report on Monday, September 25th. They issued a “neutral” rating and a $33.00 price objective for the company. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $41.75.
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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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