Spirit Airlines, Inc. (NYSE:SAVE) Stake Lifted by Wealthsource Partners LLC

Wealthsource Partners LLC increased its stake in shares of Spirit Airlines, Inc. (NYSE:SAVEFree Report) by 6.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,946 shares of the company’s stock after buying an additional 2,190 shares during the quarter. Wealthsource Partners LLC’s holdings in Spirit Airlines were worth $556,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Captrust Financial Advisors grew its stake in Spirit Airlines by 3.3% during the 1st quarter. Captrust Financial Advisors now owns 16,802 shares of the company’s stock worth $367,000 after buying an additional 536 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Spirit Airlines by 1.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 55,706 shares of the company’s stock worth $1,085,000 after purchasing an additional 738 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Spirit Airlines by 2.9% in the fourth quarter. Legal & General Group Plc now owns 32,307 shares of the company’s stock worth $629,000 after purchasing an additional 902 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of Spirit Airlines by 1.8% in the second quarter. MetLife Investment Management LLC now owns 57,706 shares of the company’s stock worth $990,000 after purchasing an additional 1,037 shares in the last quarter. Finally, Swiss National Bank grew its stake in shares of Spirit Airlines by 2.0% in the third quarter. Swiss National Bank now owns 60,000 shares of the company’s stock worth $990,000 after purchasing an additional 1,200 shares in the last quarter. 58.73% of the stock is currently owned by institutional investors.

Spirit Airlines Price Performance

SAVE opened at $4.70 on Monday. Spirit Airlines, Inc. has a fifty-two week low of $3.96 and a fifty-two week high of $19.69. The business has a 50-day moving average of $6.24 and a 200-day moving average of $11.85. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.69.

Spirit Airlines (NYSE:SAVEGet Free Report) last released its earnings results on Thursday, February 8th. The company reported ($1.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.06. Spirit Airlines had a negative return on equity of 26.38% and a negative net margin of 8.34%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the firm posted $0.12 EPS. The company’s revenue was down 5.0% on a year-over-year basis. Equities research analysts anticipate that Spirit Airlines, Inc. will post -2.8 EPS for the current year.

Spirit Airlines Dividend Announcement

The company also recently disclosed a dividend, which was paid on Thursday, February 29th. Shareholders of record on Friday, February 23rd were given a $0.10 dividend. The ex-dividend date was Thursday, February 22nd.

Analysts Set New Price Targets

SAVE has been the subject of several recent analyst reports. Bank of America initiated coverage on Spirit Airlines in a research note on Wednesday, January 17th. They issued an “underperform” rating and a $5.00 price target for the company. Susquehanna reaffirmed a “negative” rating and set a $5.00 target price (down previously from $15.00) on shares of Spirit Airlines in a research note on Wednesday, January 17th. TD Cowen decreased their target price on Spirit Airlines from $11.00 to $5.00 and set a “market perform” rating for the company in a research note on Monday, January 22nd. Citigroup raised their target price on Spirit Airlines from $3.95 to $4.00 and gave the company a “sell” rating in a research note on Monday, February 12th. Finally, Seaport Res Ptn cut Spirit Airlines from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 17th. Four research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $8.17.

View Our Latest Research Report on SAVE

About Spirit Airlines

(Free Report)

Spirit Airlines, Inc provides airline services. The company also offers hotels and rental cars services. It serves 93 destinations in 15 countries in the United States, Latin America, and the Caribbean. As of December 31, 2023, the company operated a fleet of 205 Airbus single-aisle aircraft. The company was formerly known as Clippert Trucking Company and changed its name to Spirit Airlines, Inc in 1992.

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

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