Spirit Airlines Incorporated (SAVE) Shares Bought by BlackRock Inc.

BlackRock Inc. boosted its stake in shares of Spirit Airlines Incorporated (NASDAQ:SAVE) by 6.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,810,444 shares of the transportation company’s stock after buying an additional 292,498 shares during the period. BlackRock Inc. owned approximately 0.07% of Spirit Airlines worth $278,621,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in shares of Spirit Airlines by 22.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 345,397 shares of the transportation company’s stock worth $12,555,000 after purchasing an additional 62,989 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Spirit Airlines by 13.5% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 44,253 shares of the transportation company’s stock worth $2,079,000 after purchasing an additional 5,277 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Spirit Airlines by 786.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 124,312 shares of the transportation company’s stock worth $5,839,000 after purchasing an additional 110,295 shares in the last quarter. Commonwealth Bank of Australia purchased a new position in shares of Spirit Airlines during the 3rd quarter worth approximately $338,000. Finally, Thompson Siegel & Walmsley LLC increased its stake in shares of Spirit Airlines by 96.7% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 26,450 shares of the transportation company’s stock worth $1,242,000 after purchasing an additional 13,000 shares in the last quarter.

A number of research analysts have recently weighed in on SAVE shares. JPMorgan Chase & Co. raised their price objective on shares of Spirit Airlines to $59.00 in a research note on Sunday, December 2nd. Macquarie set a $81.00 price objective on shares of Spirit Airlines and gave the stock a “buy” rating in a research note on Tuesday, January 29th. Credit Suisse Group raised shares of Spirit Airlines to a “buy” rating and set a $77.00 price objective for the company in a research note on Friday, December 14th. Vertical Research assumed coverage on shares of Spirit Airlines in a research note on Monday, February 4th. They set a “buy” rating for the company. Finally, Goldman Sachs Group raised shares of Spirit Airlines from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $78.00 to $85.00 in a research note on Thursday, February 7th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $69.87.

SAVE stock opened at $55.15 on Friday. Spirit Airlines Incorporated has a one year low of $34.36 and a one year high of $65.35.

Spirit Airlines (NASDAQ:SAVE) last released its earnings results on Tuesday, February 5th. The transportation company reported $1.38 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.38. The firm had revenue of $862.80 million during the quarter, compared to analysts’ expectations of $861.65 million. The firm’s revenue was up 29.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.73 earnings per share.

In other Spirit Airlines news, Director Robert D. Johnson sold 750 shares of Spirit Airlines stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $56.68, for a total value of $42,510.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is currently owned by insiders.

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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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