Swiss National Bank Sells 6,200 Shares of Spirit Airlines, Inc. (NYSE:SAVE)

Swiss National Bank cut its holdings in shares of Spirit Airlines, Inc. (NYSE:SAVEFree Report) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,800 shares of the company’s stock after selling 6,200 shares during the quarter. Swiss National Bank’s holdings in Spirit Airlines were worth $882,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. grew its position in shares of Spirit Airlines by 88.2% during the third quarter. American Century Companies Inc. now owns 626,269 shares of the company’s stock valued at $10,333,000 after purchasing an additional 293,517 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Spirit Airlines by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,024,413 shares of the company’s stock valued at $16,903,000 after purchasing an additional 37,019 shares in the last quarter. Alpine Associates Management Inc. grew its position in shares of Spirit Airlines by 29.7% during the third quarter. Alpine Associates Management Inc. now owns 1,904,500 shares of the company’s stock valued at $31,424,000 after purchasing an additional 436,486 shares in the last quarter. FMR LLC grew its position in shares of Spirit Airlines by 1.3% during the third quarter. FMR LLC now owns 5,296,283 shares of the company’s stock valued at $87,389,000 after purchasing an additional 67,977 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Spirit Airlines by 0.3% during the third quarter. Vanguard Group Inc. now owns 10,350,193 shares of the company’s stock valued at $170,778,000 after purchasing an additional 34,883 shares in the last quarter. 58.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Evercore ISI cut their price objective on Spirit Airlines from $18.00 to $3.50 and set an “in-line” rating for the company in a research report on Thursday, April 4th. Citigroup cut their price objective on Spirit Airlines from $3.85 to $3.50 and set a “sell” rating for the company in a research report on Tuesday, May 14th. TD Cowen cut their price objective on Spirit Airlines from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Tuesday, May 7th. Barclays began coverage on Spirit Airlines in a research report on Wednesday, March 27th. They set an “underweight” rating and a $4.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Spirit Airlines from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Tuesday, May 7th. Five investment analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat, Spirit Airlines presently has a consensus rating of “Reduce” and a consensus price target of $3.57.

Get Our Latest Analysis on SAVE

Spirit Airlines Stock Up 0.3 %

Shares of NYSE:SAVE opened at $3.68 on Friday. Spirit Airlines, Inc. has a 1 year low of $3.18 and a 1 year high of $19.69. The business has a 50 day simple moving average of $4.07 and a two-hundred day simple moving average of $8.12. The firm has a market capitalization of $402.96 million, a PE ratio of -0.83 and a beta of 1.41. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.97 and a quick ratio of 0.97.

Spirit Airlines (NYSE:SAVEGet Free Report) last announced its earnings results on Monday, May 6th. The company reported ($1.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.45) by ($0.01). Spirit Airlines had a negative net margin of 9.21% and a negative return on equity of 34.64%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter last year, the firm earned ($0.82) EPS. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. On average, equities analysts predict that Spirit Airlines, Inc. will post -3.67 EPS for the current year.

Spirit Airlines Profile

(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.

See Also

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

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