Harbor Advisors LLC continued to hold its stake in Spirit Airlines, Inc. (NASDAQ:SAVE) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,000 shares of the transportation company’s stock at the end of the first quarter. Harbor Advisors LLC’s holdings in Spirit Airlines were worth $265,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. increased its stake in Spirit Airlines by 7,002.6% in the first quarter. BlackRock Inc. now owns 2,691,469 shares of the transportation company’s stock valued at $142,838,000 after buying an additional 2,653,575 shares in the last quarter. Strs Ohio acquired a new stake in Spirit Airlines during the first quarter valued at $46,436,000. FMR LLC increased its stake in Spirit Airlines by 9.8% in the fourth quarter. FMR LLC now owns 7,425,201 shares of the transportation company’s stock valued at $429,622,000 after buying an additional 660,288 shares in the last quarter. Wells Fargo & Company MN increased its stake in Spirit Airlines by 24.3% in the first quarter. Wells Fargo & Company MN now owns 3,093,057 shares of the transportation company’s stock valued at $164,148,000 after buying an additional 604,447 shares in the last quarter. Finally, Tide Point Capital Management LP acquired a new stake in Spirit Airlines during the fourth quarter valued at $34,384,000.
Spirit Airlines, Inc. (NASDAQ SAVE) traded down 0.23% during trading on Friday, hitting $52.71. 643,103 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $55.38 and a 200 day moving average price of $54.79. Spirit Airlines, Inc. has a 52-week low of $37.17 and a 52-week high of $60.40. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 15.66 and a beta of 0.56.
Spirit Airlines (NASDAQ:SAVE) last posted its quarterly earnings results on Friday, April 28th. The transportation company reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.02. The company had revenue of $591.80 million for the quarter, compared to the consensus estimate of $591.31 million. Spirit Airlines had a net margin of 9.89% and a return on equity of 18.60%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 EPS. On average, equities research analysts predict that Spirit Airlines, Inc. will post $4.16 earnings per share for the current year.
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Several analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Spirit Airlines from a “buy” rating to a “hold” rating in a research note on Monday, March 6th. Imperial Capital reissued an “outperform” rating and issued a $68.00 price target (up from $58.00) on shares of Spirit Airlines in a research note on Friday, March 3rd. Wolfe Research raised shares of Spirit Airlines from a “market perform” rating to an “outperform” rating in a research note on Friday, June 2nd. Cowen and Company boosted their price target on shares of Spirit Airlines from $58.00 to $62.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 18th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $75.00 price target on shares of Spirit Airlines in a research note on Saturday, April 22nd. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $61.05.
In related news, VP Edmundo Miranda sold 3,131 shares of the firm’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $59.39, for a total value of $185,950.09. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.26% of the company’s stock.
Spirit Airlines Company 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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