Spirit Airlines, Inc. (NYSE:SAVE) Shares Bought by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. increased its stake in Spirit Airlines, Inc. (NYSE:SAVE) by 862.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,466 shares of the company’s stock after purchasing an additional 3,106 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Spirit Airlines were worth $57,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in Spirit Airlines by 467.7% during the 4th quarter. International Assets Investment Management LLC now owns 1,970 shares of the company’s stock valued at $32,000 after acquiring an additional 1,623 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in Spirit Airlines by 272.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,119 shares of the company’s stock valued at $41,000 after acquiring an additional 1,550 shares during the period. Cary Street Partners Investment Advisory LLC acquired a new stake in Spirit Airlines during the 3rd quarter valued at approximately $50,000. Byrne Asset Management LLC lifted its stake in shares of Spirit Airlines by 81.0% in the 4th quarter. Byrne Asset Management LLC now owns 4,200 shares of the company’s stock valued at $69,000 after purchasing an additional 1,880 shares during the period. Finally, Rockefeller Capital Management L.P. purchased a new stake in Spirit Airlines during the second quarter worth $74,000. 58.73% of the stock is currently owned by institutional investors and hedge funds.

Spirit Airlines Stock Performance

Shares of SAVE stock opened at $4.04 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.69. The company has a 50-day moving average of $5.22 and a two-hundred day moving average of $10.36. Spirit Airlines, Inc. has a 1-year low of $3.96 and a 1-year high of $19.69.

Spirit Airlines (NYSE:SAVE) last announced its earnings results on Thursday, February 8th. The company reported ($1.36) earnings per share for the quarter, topping the consensus estimate of ($1.42) by $0.06. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.32 billion. Spirit Airlines had a negative net margin of 8.34% and a negative return on equity of 26.38%. Spirit Airlines’s revenue was down 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.12 earnings per share. Equities analysts anticipate that Spirit Airlines, Inc. will post -2.8 earnings per share for the current fiscal year.

Spirit Airlines Dividend Announcement

The business also recently announced a dividend, which was paid on Thursday, February 29th. Shareholders of record on Friday, February 23rd were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, February 22nd.

Analyst Ratings Changes

SAVE has been the topic of a number of recent analyst reports. Seaport Res Ptn downgraded shares of Spirit Airlines from a “buy” rating to a “neutral” rating in a report on Wednesday, January 17th. Citigroup reduced their price objective on shares of Spirit Airlines from $4.00 to $3.85 and set a “sell” rating for the company in a research report on Wednesday. Susquehanna reduced their price objective on shares of Spirit Airlines from $5.00 to $4.00 and set a “negative” rating for the company in a research report on Tuesday, April 9th. Bank of America initiated coverage on shares of Spirit Airlines in a research report on Wednesday, January 17th. They set an “underperform” rating and a $5.00 price objective for the company. Finally, Evercore ISI cut their price objective on shares of Spirit Airlines from $18.00 to $3.50 and set an “in-line” rating for the company in a research report on Thursday, April 4th. Five research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat.com, Spirit Airlines presently has a consensus rating of “Reduce” and an average target price of $4.91.

Spirit Airlines Profile

Spirit Airlines, Inc provides airline services. The company also offers hotels and rental cars services. It serves 93 destinations in 15 countries in the United States, Latin America, and the Caribbean. As of December 31, 2023, the company operated a fleet of 205 Airbus single-aisle aircraft. The company was formerly known as Clippert Trucking Company and changed its name to Spirit Airlines, Inc in 1992.