Gabelli Funds LLC Has $1.98 Million Holdings in Spirit Airlines, Inc. (NYSE:SAVE)

Gabelli Funds LLC lessened its stake in shares of Spirit Airlines, Inc. (NYSE:SAVEFree Report) by 19.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 120,230 shares of the company’s stock after selling 28,950 shares during the period. Gabelli Funds LLC owned about 0.11% of Spirit Airlines worth $1,984,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of SAVE. Cetera Advisor Networks LLC acquired a new position in shares of Spirit Airlines in the first quarter valued at approximately $296,000. MetLife Investment Management LLC grew its position in shares of Spirit Airlines by 54.4% in the first quarter. MetLife Investment Management LLC now owns 53,926 shares of the company’s stock valued at $1,179,000 after purchasing an additional 18,997 shares during the last quarter. 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 last quarter. Allianz Asset Management GmbH grew its position in shares of Spirit Airlines by 13.6% in the first quarter. Allianz Asset Management GmbH now owns 12,175 shares of the company’s stock valued at $266,000 after purchasing an additional 1,458 shares during the last quarter. Finally, 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 last quarter. Institutional investors own 65.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SAVE shares. Seaport Res Ptn downgraded Spirit Airlines from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 17th. TD Cowen reduced their price target on Spirit Airlines from $11.00 to $5.00 and set a “market perform” rating on the stock in a research report on Monday, January 22nd. Susquehanna reissued a “negative” rating and set a $5.00 price target (down previously from $15.00) on shares of Spirit Airlines in a research report on Wednesday, January 17th. Citigroup downgraded Spirit Airlines from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $13.00 to $4.00 in a research report on Thursday, January 18th. Finally, Bank of America initiated coverage on Spirit Airlines in a research report on Wednesday, January 17th. They set an “underperform” rating and a $5.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $8.17.

View Our Latest Analysis on SAVE

Spirit Airlines Trading Down 7.4 %

Shares of SAVE stock opened at $6.65 on Friday. The stock’s fifty day moving average price is $12.24 and its two-hundred day moving average price is $14.14. Spirit Airlines, Inc. has a fifty-two week low of $4.04 and a fifty-two week high of $19.69. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 2.31.

Spirit Airlines (NYSE:SAVEGet Free Report) last issued its earnings results on Thursday, February 8th. The company reported ($1.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.06. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. Spirit Airlines had a negative return on equity of 25.06% and a negative net margin of 8.34%. The company’s revenue was down 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.12 EPS. On average, equities analysts forecast that Spirit Airlines, Inc. will post -3.42 earnings per share for the current year.

Spirit Airlines Announces Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 31st. Shareholders of record on Thursday, January 25th were issued a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, January 24th.

About Spirit Airlines

(Free Report)

Spirit Airlines, Inc provides airline services. The company provides front seats, including wider seats with extra legroom, carry-on and checked baggage, assigned seats, travel insurance, and onboard beverages and snacks, as well as hotels, cars, vacation packages, and cruises services. It serves 92 destinations in 16 countries in the United States, Latin America, and the Caribbean.

Featured Stories

Want to see what other hedge funds are holding SAVE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spirit Airlines, Inc. (NYSE:SAVEFree Report).

Institutional Ownership by Quarter for Spirit Airlines (NYSE:SAVE)

Receive News & Ratings for Spirit Airlines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Airlines and related companies with MarketBeat.com's FREE daily email newsletter.