Cerebellum GP LLC Buys New Stake in Spirit Airlines Incorporated (SAVE)

Cerebellum GP LLC bought a new stake in Spirit Airlines Incorporated (NASDAQ:SAVE) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 4,487 shares of the transportation company’s stock, valued at approximately $260,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SAVE. Strs Ohio acquired a new position in Spirit Airlines in the second quarter valued at about $105,000. Point72 Hong Kong Ltd lifted 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 buying an additional 1,730 shares during the last quarter. Sei Investments Co. lifted 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 buying an additional 2,208 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Spirit Airlines in the third quarter valued at about $206,000. Finally, Janus Henderson Group PLC acquired a new position in Spirit Airlines in the second quarter valued at about $211,000.

SAVE has been the topic of a number of recent analyst reports. BidaskClub cut shares of Spirit Airlines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 25th. Zacks Investment Research raised shares of Spirit Airlines from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Wednesday, September 26th. Imperial Capital reissued an “outperform” rating and set a $69.00 price target (up previously from $61.00) on shares of Spirit Airlines in a research report on Thursday, September 27th. Macquarie set a $56.00 price target on shares of Spirit Airlines and gave the stock a “buy” rating in a research report on Monday, October 8th. Finally, Deutsche Bank increased their price target on shares of Spirit Airlines from $51.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, October 10th. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $60.63.

In related news, COO John A. Bendoraitis sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 13th. The shares were sold at an average price of $61.11, for a total value of $122,220.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Rocky Wiggins sold 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $50.56, for a total transaction of $227,520.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,250 shares of company stock worth $398,228. 0.33% of the stock is owned by corporate insiders.

Shares of SAVE opened at $60.11 on Friday. Spirit Airlines Incorporated has a 1 year low of $34.36 and a 1 year high of $65.35.

Spirit Airlines (NASDAQ:SAVE) last issued its earnings results on Wednesday, October 24th. The transportation company reported $1.47 earnings per share for the quarter, beating 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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Institutional Ownership by Quarter for Spirit Airlines (NASDAQ:SAVE)

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