Trexquant Investment LP acquired a new stake in shares of Spirit Airlines Incorporated (NASDAQ:SAVE) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,268 shares of the transportation company’s stock, valued at approximately $341,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Strs Ohio acquired a new stake in shares of Spirit Airlines during the 2nd quarter valued at about $105,000. Point72 Hong Kong Ltd grew its position in shares of Spirit Airlines by 147.4% during the 2nd 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 during the period. Sei Investments Co. grew its position in shares of Spirit Airlines by 127.9% during the 2nd 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 during the period. BNP Paribas Arbitrage SA grew its position in shares of Spirit Airlines by 286.2% during the 2nd 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 during the period. Finally, Janus Henderson Group PLC acquired a new stake in shares of Spirit Airlines during the 2nd quarter valued at about $211,000.
A number of research firms have recently commented on SAVE. Wolfe Research cut Spirit Airlines from an “outperform” rating to a “market perform” rating in a research report on Friday. Credit Suisse Group upgraded Spirit Airlines from a “neutral” rating to an “outperform” rating and raised their target price for the company from $59.00 to $77.00 in a research report on Thursday. Morgan Stanley raised their target price on Spirit Airlines from $58.00 to $68.00 and gave the company an “equal weight” rating in a research report on Monday, December 3rd. JPMorgan Chase & Co. raised their target price on Spirit Airlines to $59.00 in a research report on Sunday, December 2nd. Finally, Imperial Capital raised their target price on Spirit Airlines from $90.00 to $98.00 and gave the company an “outperform” rating in a research report on Tuesday, November 27th. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $61.25.
In other news, Director Robert D. Johnson sold 750 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $64.65, for a total transaction of $48,487.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Rocky Wiggins sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $50.56, for a total value of $227,520.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,816 shares of company stock worth $303,113. 0.33% of the stock is currently owned by insiders.
SAVE stock opened at $59.67 on Friday. Spirit Airlines Incorporated has a 12-month low of $34.36 and a 12-month high of $65.35.
Spirit Airlines (NASDAQ:SAVE) last posted its quarterly earnings data on Wednesday, October 24th. The transportation company reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.03. The firm had revenue of $904.33 million during the quarter, compared to analyst estimates of $904.05 million.
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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.
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