State of New Jersey Common Pension Fund D decreased its position in Spirit Airlines Incorporated (NASDAQ:SAVE) by 10.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 300,000 shares of the transportation company’s stock after selling 35,000 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Spirit Airlines were worth $14,091,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Strs Ohio acquired a new stake in Spirit Airlines in the second quarter valued at approximately $105,000. Point72 Hong Kong Ltd grew its position in Spirit Airlines by 147.4% in the second quarter. Point72 Hong Kong Ltd now owns 2,904 shares of the transportation company’s stock valued at $106,000 after acquiring an additional 1,730 shares in the last quarter. Sei Investments Co. grew its position in Spirit Airlines by 127.9% in the second quarter. Sei Investments Co. now owns 3,934 shares of the transportation company’s stock valued at $143,000 after acquiring an additional 2,208 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in Spirit Airlines by 286.2% in the second quarter. BNP Paribas Arbitrage SA now owns 4,445 shares of the transportation company’s stock valued at $162,000 after acquiring an additional 3,294 shares in the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in shares of Spirit Airlines during the second quarter worth approximately $211,000.
In related news, Director Robert D. Johnson sold 750 shares of the firm’s stock in a transaction on Tuesday, September 4th. The stock was 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 SEC, which can be accessed through the SEC website. Also, SVP Rocky Wiggins sold 566 shares of the firm’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $47.89, for a total value of $27,105.74. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.
SAVE has been the subject of a number of recent analyst reports. BidaskClub raised shares of Spirit Airlines from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 31st. Zacks Investment Research downgraded shares of Spirit Airlines from a “buy” rating to a “hold” rating in a research report on Wednesday, September 12th. Cowen raised their price target on shares of Spirit Airlines from $39.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, July 27th. Macquarie raised their price target on shares of Spirit Airlines from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 28th. Finally, Morgan Stanley raised their price target on shares of Spirit Airlines from $50.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Monday, October 15th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $53.31.
SAVE stock opened at $50.78 on Friday. Spirit Airlines Incorporated has a twelve month low of $33.26 and a twelve month high of $51.60. 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 (NASDAQ:SAVE) last announced its quarterly earnings data on Wednesday, July 25th. The transportation company reported $1.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.02. Spirit Airlines had a return on equity of 15.86% and a net margin of 8.55%. The firm had revenue of $851.80 million for the quarter, compared to analysts’ expectations of $851.83 million. During the same period last year, the business posted $1.14 earnings per share. The firm’s revenue for the quarter was up 21.4% on a year-over-year basis. As a group, equities analysts forecast that Spirit Airlines Incorporated will post 3.08 EPS for the current fiscal year.
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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