Spirit Airlines Incorporated (SAVE) Holdings Cut by Alps Advisors Inc.

Alps Advisors Inc. trimmed its position in shares of Spirit Airlines Incorporated (NASDAQ:SAVE) by 20.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,663 shares of the transportation company’s stock after selling 2,825 shares during the period. Alps Advisors Inc.’s holdings in Spirit Airlines were worth $403,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SAVE. UBS Asset Management Americas Inc. boosted its holdings in Spirit Airlines by 637.4% during the fourth quarter. UBS Asset Management Americas Inc. now owns 2,036,785 shares of the transportation company’s stock valued at $91,350,000 after acquiring an additional 1,760,564 shares during the period. Millennium Management LLC boosted its holdings in Spirit Airlines by 124.7% during the fourth quarter. Millennium Management LLC now owns 1,268,934 shares of the transportation company’s stock valued at $56,912,000 after acquiring an additional 704,259 shares during the period. Polaris Capital Management LLC lifted its stake in shares of Spirit Airlines by 1,502.1% in the fourth quarter. Polaris Capital Management LLC now owns 624,800 shares of the transportation company’s stock valued at $50,653,000 after buying an additional 585,802 shares during the period. Franklin Resources Inc. lifted its stake in shares of Spirit Airlines by 18.9% in the fourth quarter. Franklin Resources Inc. now owns 3,379,422 shares of the transportation company’s stock valued at $151,567,000 after buying an additional 537,786 shares during the period. Finally, OppenheimerFunds Inc. lifted its stake in shares of Spirit Airlines by 10.2% in the fourth quarter. OppenheimerFunds Inc. now owns 5,455,076 shares of the transportation company’s stock valued at $244,660,000 after buying an additional 503,894 shares during the period.

SAVE has been the subject of several research reports. UBS initiated coverage on shares of Spirit Airlines in a research note on Monday, April 9th. They issued a “neutral” rating for the company. Morgan Stanley reduced their target price on shares of Spirit Airlines from $48.00 to $44.00 and set an “equal weight” rating for the company in a research note on Thursday, April 12th. Cowen reiterated a “market perform” rating and issued a $40.00 target price (down previously from $45.00) on shares of Spirit Airlines in a research note on Wednesday, April 11th. Macquarie upgraded shares of Spirit Airlines from a “neutral” rating to an “outperform” rating and set a $33.00 target price for the company in a research note on Wednesday, February 7th. Finally, Buckingham Research increased their target price on shares of Spirit Airlines from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. Spirit Airlines currently has a consensus rating of “Buy” and a consensus price target of $48.75.

Shares of Spirit Airlines opened at $37.13 on Friday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Spirit Airlines Incorporated has a 12 month low of $36.03 and a 12 month high of $36.97.

Spirit Airlines (NASDAQ:SAVE) last announced its quarterly earnings results on Thursday, April 26th. The transportation company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $704.10 million during the quarter, compared to analysts’ expectations of $704.39 million. Spirit Airlines had a net margin of 8.55% and a return on equity of 15.86%. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 earnings per share. equities analysts forecast that Spirit Airlines Incorporated will post 3.08 EPS for the current year.

In other Spirit Airlines news, COO John A. Bendoraitis sold 1,690 shares of the firm’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $44.63, for a total transaction of $75,424.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is owned by company insiders.

Spirit Airlines 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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