Teachers Retirement System of The State of Kentucky lifted its position in Spirit Airlines Incorporated (NASDAQ:SAVE) by 169.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 182,055 shares of the transportation company’s stock after acquiring an additional 114,476 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.26% of Spirit Airlines worth $8,165,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in SAVE. UBS Asset Management Americas Inc. increased its position in shares of Spirit Airlines by 637.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,036,785 shares of the transportation company’s stock worth $91,350,000 after acquiring an additional 1,760,564 shares in the last quarter. Polaris Capital Management LLC increased its position in shares of Spirit Airlines by 1,502.1% in the fourth quarter. Polaris Capital Management LLC now owns 624,800 shares of the transportation company’s stock worth $50,653,000 after acquiring an additional 585,802 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Spirit Airlines by 18.9% in the fourth quarter. Franklin Resources Inc. now owns 3,379,422 shares of the transportation company’s stock worth $151,567,000 after acquiring an additional 537,786 shares in the last quarter. Schroder Investment Management Group increased its position 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 worth $44,242,000 after acquiring an additional 530,281 shares in the last quarter. Finally, OppenheimerFunds Inc. increased its position in shares of Spirit Airlines by 10.2% in the fourth quarter. OppenheimerFunds Inc. now owns 5,455,076 shares of the transportation company’s stock worth $244,660,000 after acquiring an additional 503,894 shares in the last quarter.
SAVE has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Spirit Airlines from a “hold” rating to a “sell” rating in a research report on Monday, January 8th. BidaskClub raised shares of Spirit Airlines from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Bank of America raised shares of Spirit Airlines from a “neutral” rating to a “buy” rating and set a $53.00 target price on the stock in a research report on Tuesday, January 9th. Imperial Capital reissued an “in-line” rating and issued a $42.00 target price (up from $36.00) on shares of Spirit Airlines in a research report on Thursday, January 18th. Finally, Buckingham Research boosted their price objective on shares of Spirit Airlines from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $48.25.
In related news, COO John A. Bendoraitis sold 1,690 shares of the company’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $44.63, for a total transaction of $75,424.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is owned by corporate insiders.
Shares of SAVE opened at $37.74 on Friday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Spirit Airlines Incorporated has a 52 week low of $30.32 and a 52 week high of $60.28.
Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings data on Tuesday, February 6th. The transportation company reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. The business had revenue of $667.00 million during the quarter, compared to analysts’ expectations of $666.12 million. Spirit Airlines had a net margin of 8.55% and a return on equity of 15.86%. Spirit Airlines’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.77 earnings per share. research analysts expect that Spirit Airlines Incorporated will post 3.08 earnings per share for the current fiscal year.
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About Spirit Airlines
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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