Public Employees Retirement System of Ohio raised its stake in Spirit Airlines, Inc. (NASDAQ:SAVE) by 0.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 96,711 shares of the transportation company’s stock after buying an additional 246 shares during the period. Public Employees Retirement System of Ohio’s holdings in Spirit Airlines were worth $5,132,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. James Investment Research Inc. acquired a new position in Spirit Airlines during the first quarter valued at $137,000. Envestnet Asset Management Inc. raised its stake in Spirit Airlines by 2.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,731 shares of the transportation company’s stock valued at $216,000 after buying an additional 92 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Spirit Airlines during the first quarter valued at about $346,000. Parkwood LLC raised its stake in Spirit Airlines by 24.9% in the first quarter. Parkwood LLC now owns 6,675 shares of the transportation company’s stock valued at $354,000 after buying an additional 1,332 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new stake in Spirit Airlines during the first quarter valued at about $368,000.
Spirit Airlines, Inc. (NASDAQ SAVE) opened at 53.46 on Monday. The stock has a 50 day moving average price of $53.88 and a 200 day moving average price of $54.52. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 15.89 and a beta of 0.63. Spirit Airlines, Inc. has a 52-week low of $37.17 and a 52-week high of $60.40.
Spirit Airlines (NASDAQ:SAVE) last released its quarterly earnings results on Friday, April 28th. The transportation company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. Spirit Airlines had a return on equity of 18.60% and a net margin of 9.89%. The company had revenue of $591.80 million during the quarter, compared to analysts’ expectations of $591.31 million. During the same period last year, the business posted $1.01 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. Analysts expect that Spirit Airlines, Inc. will post $4.18 EPS for the current fiscal year.
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SAVE has been the subject of several recent analyst reports. BidaskClub lowered shares of Spirit Airlines from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Imperial Capital reaffirmed an “outperform” rating and set a $70.00 price objective (up from $68.00) on shares of Spirit Airlines in a report on Thursday, April 20th. Citigroup Inc. reaffirmed a “neutral” rating and set a $60.00 price objective (up from $58.00) on shares of Spirit Airlines in a report on Saturday, April 22nd. Wolfe Research raised shares of Spirit Airlines from a “market perform” rating to an “outperform” rating in a report on Friday, June 2nd. Finally, Deutsche Bank AG increased their price target on shares of Spirit Airlines from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, April 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $61.68.
In other Spirit Airlines news, VP Edmundo Miranda sold 3,131 shares of the stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $59.39, for a total value of $185,950.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.26% of the company’s stock.
About Spirit Airlines
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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