Spirit Airlines Incorporated (SAVE) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System cut its stake in shares of Spirit Airlines Incorporated (NASDAQ:SAVE) by 9.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 116,054 shares of the transportation company’s stock after selling 11,928 shares during the period. California State Teachers Retirement System’s holdings in Spirit Airlines were worth $3,877,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in SAVE. Schroder Investment Management Group increased its holdings in shares of Spirit Airlines by 67.2% during the third quarter. Schroder Investment Management Group now owns 1,319,480 shares of the transportation company’s stock worth $44,242,000 after buying an additional 530,281 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Spirit Airlines by 29.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,930,412 shares of the transportation company’s stock worth $64,495,000 after buying an additional 436,012 shares in the last quarter. Calamos Advisors LLC increased its holdings in shares of Spirit Airlines by 107.0% during the third quarter. Calamos Advisors LLC now owns 699,240 shares of the transportation company’s stock worth $23,362,000 after buying an additional 361,478 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Spirit Airlines by 135.9% in the third quarter. JPMorgan Chase & Co. now owns 529,027 shares of the transportation company’s stock valued at $17,738,000 after purchasing an additional 304,721 shares during the period. Finally, Precocity Capital LP increased its holdings in Spirit Airlines by 166.7% in the third quarter. Precocity Capital LP now owns 400,000 shares of the transportation company’s stock valued at $13,364,000 after purchasing an additional 250,000 shares during the period.

Shares of Spirit Airlines Incorporated (NASDAQ SAVE) opened at $43.63 on Monday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market cap of $3,030.00, a price-to-earnings ratio of 13.85, a price-to-earnings-growth ratio of 1.82 and a beta of 0.75. Spirit Airlines Incorporated has a 1 year low of $30.32 and a 1 year high of $60.28.

Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings results on Thursday, October 26th. The transportation company reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.04. The business had revenue of $687.20 million for the quarter, compared to analysts’ expectations of $686.13 million. Spirit Airlines had a net margin of 8.55% and a return on equity of 15.86%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.24 earnings per share. equities research analysts expect that Spirit Airlines Incorporated will post 3.08 EPS for the current fiscal year.

Spirit Airlines announced that its Board of Directors has approved a share buyback plan on Thursday, October 26th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the transportation company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

A number of research firms recently weighed in on SAVE. BidaskClub downgraded Spirit Airlines from a “buy” rating to a “hold” rating in a report on Saturday. Deutsche Bank upgraded Spirit Airlines from a “hold” rating to a “buy” rating and increased their price objective for the company from $40.00 to $58.00 in a report on Thursday, December 21st. ValuEngine upgraded Spirit Airlines from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Stephens began coverage on Spirit Airlines in a report on Wednesday, November 29th. They issued an “overweight” rating and a $50.00 price objective for the company. Finally, Zacks Investment Research upgraded Spirit Airlines from a “sell” rating to a “hold” rating in a report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Spirit Airlines has an average rating of “Hold” and an average target price of $43.42.

In other Spirit Airlines news, VP John A. Bendoraitis sold 2,340 shares of the company’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $42.92, for a total transaction of $100,432.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.33% of the company’s stock.

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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.

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

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