BTC Capital Management Inc. Buys New Stake in Spirit Airlines, Inc. (NASDAQ:SAVE)

BTC Capital Management Inc. bought a new position in Spirit Airlines, Inc. (NASDAQ:SAVE) during the second quarter, according to its most recent disclosure with the SEC. The fund bought 36,890 shares of the transportation company’s stock, valued at approximately $1,901,000. BTC Capital Management Inc. owned approximately 0.05% of Spirit Airlines at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Middleton & Co Inc MA boosted its stake in Spirit Airlines by 0.3% in the first quarter. Middleton & Co Inc MA now owns 17,275 shares of the transportation company’s stock worth $917,000 after buying an additional 45 shares in the last quarter. Camarda Financial Advisors LLC boosted its stake in Spirit Airlines by 0.3% in the second quarter. Camarda Financial Advisors LLC now owns 32,224 shares of the transportation company’s stock worth $1,664,000 after buying an additional 101 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Spirit Airlines by 0.3% in the first quarter. Public Employees Retirement System of Ohio now owns 96,711 shares of the transportation company’s stock worth $5,132,000 after buying an additional 246 shares in the last quarter. Aperio Group LLC boosted its stake in Spirit Airlines by 4.6% in the second quarter. Aperio Group LLC now owns 7,260 shares of the transportation company’s stock worth $375,000 after buying an additional 322 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in Spirit Airlines by 3.4% in the first quarter. Amalgamated Bank now owns 10,252 shares of the transportation company’s stock worth $544,000 after buying an additional 333 shares in the last quarter.

Shares of Spirit Airlines, Inc. (NASDAQ:SAVE) opened at 37.61 on Friday. The company has a market cap of $2.61 billion, a P/E ratio of 10.90 and a beta of 0.57. Spirit Airlines, Inc. has a 52 week low of $37.17 and a 52 week high of $60.40. The company’s 50-day moving average price is $47.79 and its 200 day moving average price is $52.37.

Spirit Airlines (NASDAQ:SAVE) last posted its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.11 by $0.03. Spirit Airlines had a return on equity of 17.96% and a net margin of 9.62%. The firm had revenue of $701.68 million during the quarter, compared to analysts’ expectations of $702.29 million. During the same quarter last year, the firm earned $1.11 earnings per share. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. Equities research analysts anticipate that Spirit Airlines, Inc. will post $3.61 earnings per share for the current fiscal year.

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Several equities research analysts recently commented on the company. Cowen and Company reaffirmed a “market perform” rating and set a $59.00 price objective on shares of Spirit Airlines in a research report on Tuesday, July 18th. Morgan Stanley reaffirmed an “equal weight” rating and set a $60.00 price objective (down from $61.00) on shares of Spirit Airlines in a research report on Thursday, July 13th. Imperial Capital increased their price objective on Spirit Airlines from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, May 1st. Bank of America Corporation cut Spirit Airlines from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $68.00 to $44.00 in a research report on Friday, July 28th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $55.00 price objective (down from $75.00) on shares of Spirit Airlines in a research report on Sunday, July 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $54.96.

Spirit Airlines Company Profile

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.

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

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