Spirit Airlines Incorporated (SAVE) Holdings Lowered by NJ State Employees Deferred Compensation Plan

NJ State Employees Deferred Compensation Plan cut its position in Spirit Airlines Incorporated (NASDAQ:SAVE) by 50.0% during the third quarter, Holdings Channel reports. The firm owned 10,000 shares of the transportation company’s stock after selling 10,000 shares during the quarter. NJ State Employees Deferred Compensation Plan’s holdings in Spirit Airlines were worth $470,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Strs Ohio purchased a new stake in shares of Spirit Airlines in the 2nd quarter valued at approximately $105,000. Point72 Hong Kong Ltd increased its position in shares of Spirit Airlines by 147.4% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,904 shares of the transportation company’s stock valued at $106,000 after purchasing an additional 1,730 shares during the last quarter. Sei Investments Co. increased its position in shares of Spirit Airlines by 127.9% in the 2nd quarter. Sei Investments Co. now owns 3,934 shares of the transportation company’s stock valued at $143,000 after purchasing an additional 2,208 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Spirit Airlines by 286.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,445 shares of the transportation company’s stock valued at $162,000 after purchasing an additional 3,294 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in shares of Spirit Airlines in the 2nd quarter valued at approximately $211,000.

A number of research analysts recently commented on SAVE shares. Citigroup increased their target price on shares of Spirit Airlines from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, July 12th. Imperial Capital reaffirmed an “outperform” rating and issued a $53.00 target price (up from $48.00) on shares of Spirit Airlines in a research report on Saturday, July 14th. Morgan Stanley increased their target price on shares of Spirit Airlines from $41.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, July 16th. Barclays dropped their target price on shares of Spirit Airlines from $49.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Monday, July 16th. Finally, Buckingham Research raised shares of Spirit Airlines from a “neutral” rating to a “buy” rating and increased their target price for the company from $42.00 to $52.00 in a research report on Wednesday, July 25th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Spirit Airlines presently has an average rating of “Buy” and an average price target of $53.31.

Shares of NASDAQ:SAVE opened at $50.97 on Thursday. 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 1-year low of $32.99 and a 1-year high of $51.60.

Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings results on Wednesday, July 25th. The transportation company reported $1.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.02. The firm had revenue of $851.80 million during the quarter, compared to analysts’ expectations of $851.83 million. Spirit Airlines had a net margin of 8.55% and a return on equity of 15.86%. Spirit Airlines’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 EPS. On average, equities analysts forecast that Spirit Airlines Incorporated will post 3.08 EPS for the current year.

In related news, Director Robert D. Johnson sold 750 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $47.53, for a total transaction of $35,647.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Rocky Wiggins sold 566 shares of the stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $47.89, for a total transaction of $27,105.74. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

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

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