Wedbush Securities Inc. decreased its position in Spirit Airlines Incorporated (NASDAQ:SAVE) by 28.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,080 shares of the transportation company’s stock after selling 5,227 shares during the quarter. Wedbush Securities Inc.’s holdings in Spirit Airlines were worth $587,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wedge Capital Management L L P NC grew its stake in shares of Spirit Airlines by 1.5% in the 3rd quarter. Wedge Capital Management L L P NC now owns 349,947 shares of the transportation company’s stock valued at $11,692,000 after buying an additional 5,258 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of Spirit Airlines by 2.8% in the 3rd quarter. California Public Employees Retirement System now owns 141,263 shares of the transportation company’s stock valued at $4,720,000 after buying an additional 3,863 shares in the last quarter. U S Global Investors Inc. grew its stake in shares of Spirit Airlines by 53.1% in the 3rd quarter. U S Global Investors Inc. now owns 140,897 shares of the transportation company’s stock valued at $4,706,000 after buying an additional 48,851 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of Spirit Airlines by 54.0% in the 3rd quarter. New York State Common Retirement Fund now owns 343,667 shares of the transportation company’s stock valued at $11,482,000 after buying an additional 120,524 shares in the last quarter. Finally, Pekin Singer Strauss Asset Management IL bought a new stake in shares of Spirit Airlines in the 3rd quarter valued at approximately $4,936,000.
In other news, VP John A. Bendoraitis sold 2,340 shares of the company’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by insiders.
Several equities research analysts recently weighed in on SAVE shares. Zacks Investment Research upgraded Spirit Airlines from a “sell” rating to a “hold” rating in a report on Friday, November 10th. Buckingham Research boosted their target price on Spirit Airlines from $31.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. BidaskClub upgraded Spirit Airlines from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. Bank of America upgraded Spirit Airlines from a “neutral” rating to a “buy” rating and set a $53.00 target price for the company in a report on Tuesday, January 9th. Finally, Imperial Capital restated an “in-line” rating and issued a $42.00 target price (up from $36.00) on shares of Spirit Airlines in a report on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $47.33.
Spirit Airlines Incorporated (NASDAQ SAVE) opened at $39.91 on Thursday. Spirit Airlines Incorporated has a 1-year low of $30.32 and a 1-year high of $60.28. The company has a market capitalization of $2,770.00, a P/E ratio of 4.47, a PEG ratio of 1.82 and a beta of 0.60. 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 issued its quarterly earnings results on Tuesday, February 6th. The transportation company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. Spirit Airlines had a return on equity of 15.86% and a net margin of 8.55%. The company had revenue of $667.00 million during the quarter, compared to analyst estimates of $666.12 million. During the same period in the previous year, the company earned $0.77 earnings per share. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. equities research analysts anticipate that Spirit Airlines Incorporated will post 3.08 EPS for the current year.
Spirit Airlines declared that its Board of Directors has approved a share repurchase program on Thursday, October 26th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the transportation company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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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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