New York State Common Retirement Fund Acquires 120,524 Shares of Spirit Airlines Incorporated (NASDAQ:SAVE)

New York State Common Retirement Fund grew its position in Spirit Airlines Incorporated (NASDAQ:SAVE) by 54.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 343,667 shares of the transportation company’s stock after acquiring an additional 120,524 shares during the quarter. New York State Common Retirement Fund owned 0.50% of Spirit Airlines worth $11,482,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Heartland Advisors Inc. boosted its position in shares of Spirit Airlines by 70.9% in the 2nd quarter. Heartland Advisors Inc. now owns 140,822 shares of the transportation company’s stock worth $7,273,000 after purchasing an additional 58,405 shares during the last quarter. Franklin Resources Inc. boosted 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 worth $109,927,000 after purchasing an additional 82,438 shares during the last quarter. Clinton Group Inc. bought a new position in shares of Spirit Airlines in the 2nd quarter worth $813,000. Aperio Group LLC boosted its position in shares of Spirit Airlines by 4.6% in the 2nd quarter. Aperio Group LLC now owns 7,260 shares of the transportation company’s stock worth $375,000 after purchasing an additional 322 shares during the last quarter. Finally, Verition Fund Management LLC bought a new position in Spirit Airlines during the second quarter worth about $1,407,000.

Shares of Spirit Airlines Incorporated (NASDAQ:SAVE) traded up $2.66 on Thursday, reaching $47.57. 2,478,745 shares of the company’s stock traded hands, compared to its average volume of 1,380,000. Spirit Airlines Incorporated has a 1-year low of $30.32 and a 1-year high of $60.28. The firm has a market capitalization of $3,300.00, a P/E ratio of 15.10, a P/E/G ratio of 1.82 and a beta of 0.75. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

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, topping the consensus estimate of $0.90 by $0.04. The company 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 company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.24 earnings per share. equities analysts expect that Spirit Airlines Incorporated will post 3.08 earnings per share for the current year.

Spirit Airlines announced that its Board of Directors has approved a share buyback plan on Thursday, October 26th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the transportation company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Several analysts have issued reports on the company. Stephens reaffirmed a “buy” rating and issued a $61.00 target price on shares of Spirit Airlines in a research report on Wednesday. Imperial Capital reissued an “in-line” rating and set a $36.00 price target (up previously from $32.00) on shares of Spirit Airlines in a research report on Friday, October 27th. Citigroup boosted their price target on Spirit Airlines from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Cowen reissued a “hold” rating and set a $49.00 price target on shares of Spirit Airlines in a research report on Tuesday. Finally, JPMorgan Chase & Co. downgraded Spirit Airlines from a “neutral” rating to an “underweight” rating and set a $39.00 price target on the stock. in a research report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $45.83.

In related news, VP John A. Bendoraitis sold 2,340 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $42.92, for a total value of $100,432.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

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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.

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

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