Spirit Airlines, Inc. (NYSE:SAVE) Shares Sold by Bridgefront Capital LLC

Bridgefront Capital LLC lowered its holdings in Spirit Airlines, Inc. (NYSE:SAVE – Get Rating) by 67.8% in the third quarter, Holdings Channel.com reports. The firm owned 10,436 shares of the company’s stock after selling 21,987 shares during the period. Bridgefront Capital LLC’s holdings in Spirit Airlines were worth $196,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Spirit Airlines by 1.5% in the first quarter. Vanguard Group Inc. now owns 9,935,537 shares of the company’s stock valued at $217,291,000 after purchasing an additional 148,348 shares during the period. FMR LLC grew its position in shares of Spirit Airlines by 8.7% in the second quarter. FMR LLC now owns 6,034,815 shares of the company’s stock valued at $143,870,000 after purchasing an additional 481,710 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Spirit Airlines by 37.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,637,683 shares of the company’s stock valued at $79,557,000 after purchasing an additional 997,254 shares during the period. Discovery Capital Management LLC CT purchased a new stake in shares of Spirit Airlines in the second quarter valued at $36,616,000. Finally, Alliancebernstein L.P. grew its position in shares of Spirit Airlines by 215.4% in the third quarter. Alliancebernstein L.P. now owns 1,394,047 shares of the company’s stock valued at $26,236,000 after purchasing an additional 952,023 shares during the period. Hedge funds and other institutional investors own 67.72% of the company’s stock.

Spirit Airlines Price Performance

Shares of NYSE SAVE opened at $17.11 on Friday. Spirit Airlines, Inc. has a 1-year low of $15.92 and a 1-year high of $27.88. The business has a 50-day moving average of $19.07 and a 200-day moving average of $20.02. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of -3.36, a PEG ratio of 0.45 and a beta of 1.13.

Spirit Airlines (NYSE:SAVE – Get Rating) last issued its earnings results on Tuesday, February 7th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.09. Spirit Airlines had a negative return on equity of 14.01% and a negative net margin of 7.95%. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the prior year, the business earned ($0.64) earnings per share. The company’s revenue was up 40.9% compared to the same quarter last year. On average, equities analysts anticipate that Spirit Airlines, Inc. will post -1.85 EPS for the current fiscal year.

Spirit Airlines Announces Dividend

The business also recently announced a dividend, which was paid on Tuesday, February 28th. Stockholders of record on Wednesday, February 22nd were given a $0.10 dividend. This represents a dividend yield of 1.03%. The ex-dividend date of this dividend was Tuesday, February 21st.

Analyst Ratings Changes

A number of brokerages have recently commented on SAVE. Seaport Res Ptn reaffirmed a “buy” rating on shares of Spirit Airlines in a research report on Friday, December 16th. Deutsche Bank Aktiengesellschaft downgraded Spirit Airlines from a “buy” rating to a “hold” rating and lowered their price target for the company from $27.00 to $24.00 in a research report on Tuesday, December 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $26.86.

Spirit Airlines Company Profile

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Spirit Airlines, Inc engages in the provision of air transportation services. Its operations are concentrated in markets such as South Florida, the Caribbean, Latin America, and the Northeast and Northern Midwest regions of the United States. The firm offers travel insurance, carry-on and checked baggage, online booking, and other services.