Hudson Bay Capital Management LP Decreases Holdings in Sun Country Airlines Holdings, Inc. $SNCY

Hudson Bay Capital Management LP decreased its holdings in Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) by 73.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,090 shares of the company’s stock after selling 55,000 shares during the period. Hudson Bay Capital Management LP’s holdings in Sun Country Airlines were worth $237,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. bought a new stake in Sun Country Airlines during the third quarter worth approximately $259,000. Hancock Whitney Corp lifted its stake in shares of Sun Country Airlines by 58.9% in the 3rd quarter. Hancock Whitney Corp now owns 41,844 shares of the company’s stock valued at $494,000 after purchasing an additional 15,507 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new position in shares of Sun Country Airlines in the 3rd quarter worth approximately $812,000. Gotham Asset Management LLC boosted its holdings in shares of Sun Country Airlines by 53.6% in the 3rd quarter. Gotham Asset Management LLC now owns 200,311 shares of the company’s stock worth $2,366,000 after purchasing an additional 69,862 shares during the period. Finally, CSM Advisors LLC increased its position in shares of Sun Country Airlines by 29.7% during the 3rd quarter. CSM Advisors LLC now owns 507,038 shares of the company’s stock valued at $5,987,000 after purchasing an additional 116,121 shares during the last quarter.

Insider Transactions at Sun Country Airlines

In other news, SVP Stephen Andrew Coley sold 2,052 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $15.09, for a total value of $30,964.68. Following the completion of the sale, the senior vice president owned 45,040 shares of the company’s stock, valued at approximately $679,653.60. This represents a 4.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jude Bricker sold 5,062 shares of the stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $17.55, for a total transaction of $88,838.10. Following the transaction, the chief executive officer owned 167,982 shares in the company, valued at approximately $2,948,084.10. This represents a 2.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 20,755 shares of company stock valued at $334,558. Company insiders own 4.60% of the company’s stock.

Analysts Set New Price Targets

SNCY has been the topic of several recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Sun Country Airlines in a report on Monday, December 29th. TD Cowen reaffirmed a “hold” rating on shares of Sun Country Airlines in a research note on Tuesday, February 10th. Susquehanna raised shares of Sun Country Airlines from a “neutral” rating to a “positive” rating and increased their target price for the company from $12.00 to $20.00 in a research note on Friday, January 9th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $19.00 target price (down from $22.00) on shares of Sun Country Airlines in a report on Tuesday, January 13th. Finally, Wolfe Research cut shares of Sun Country Airlines from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 20th. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Sun Country Airlines has an average rating of “Hold” and a consensus price target of $20.00.

Sun Country Airlines Stock Performance

Shares of Sun Country Airlines stock opened at $16.84 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 0.71. The stock’s fifty day moving average price is $18.38 and its 200-day moving average price is $14.91. The firm has a market cap of $896.22 million, a P/E ratio of 17.54, a P/E/G ratio of 0.37 and a beta of 1.55. Sun Country Airlines Holdings, Inc. has a 12 month low of $8.10 and a 12 month high of $22.29.

Sun Country Airlines (NASDAQ:SNCY) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. Sun Country Airlines had a net margin of 4.69% and a return on equity of 8.92%. The company had revenue of $280.96 million during the quarter, compared to analyst estimates of $272.98 million. During the same period in the prior year, the firm earned $0.27 earnings per share. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities research analysts expect that Sun Country Airlines Holdings, Inc. will post 1.92 earnings per share for the current fiscal year.

Sun Country Airlines Profile

Sun Country Airlines (NASDAQ: SNCY) is an American ultra-low-cost carrier providing a blend of scheduled and charter passenger services. The carrier focuses on leisure markets, offering nonstop flights to sun and ski destinations across the United States, Mexico and the Caribbean. In addition to its scheduled network, Sun Country operates charter services for sports teams, corporate groups and tour operators, as well as seasonal cargo charters that support e-commerce peak periods.

Founded in 1982 and headquartered in Minneapolis, Minnesota, Sun Country has navigated multiple ownership and restructuring phases.