Victory Capital Management Inc. raised its stake in Spirit Airlines Incorporated (NASDAQ:SAVE) by 100.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 717,036 shares of the transportation company’s stock after purchasing an additional 359,285 shares during the period. Victory Capital Management Inc.’s holdings in Spirit Airlines were worth $37,903,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Columbus Circle Investors increased its stake in Spirit Airlines by 7.8% in the first quarter. Columbus Circle Investors now owns 668,385 shares of the transportation company’s stock valued at $35,331,000 after purchasing an additional 48,328 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in Spirit Airlines by 1,159.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 501,335 shares of the transportation company’s stock valued at $29,037,000 after purchasing an additional 461,533 shares in the last quarter. Bank of Montreal Can increased its stake in Spirit Airlines by 496.8% in the fourth quarter. Bank of Montreal Can now owns 6,672 shares of the transportation company’s stock valued at $387,000 after purchasing an additional 5,554 shares in the last quarter. AlphaCrest Capital Management LLC bought a new stake in Spirit Airlines in the fourth quarter valued at $330,000. Finally, Blueshift Asset Management LLC bought a new stake in Spirit Airlines in the fourth quarter valued at $698,000.
In other Spirit Airlines news, Director Robert D. Johnson sold 750 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $56.68, for a total value of $42,510.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Laurie Villa sold 3,800 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $53.69, for a total transaction of $204,022.00. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.
Spirit Airlines (NASDAQ:SAVE) last posted its earnings results on Wednesday, April 24th. The transportation company reported $0.84 EPS for the quarter, hitting the consensus estimate of $0.84. The business had revenue of $855.80 million for the quarter, compared to the consensus estimate of $855.77 million. During the same period in the previous year, the firm earned $0.44 earnings per share. The company’s revenue was up 21.5% on a year-over-year basis.
SAVE has been the subject of several research analyst reports. Macquarie set a $81.00 price target on shares of Spirit Airlines and gave the company a “buy” rating in a research note on Tuesday, January 29th. Stephens reissued an “overweight” rating and set a $78.00 target price (up from $74.00) on shares of Spirit Airlines in a research report on Wednesday, February 6th. BidaskClub downgraded shares of Spirit Airlines from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Barclays raised shares of Spirit Airlines from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $65.00 to $70.00 in a research report on Monday, March 11th. Finally, Imperial Capital decreased their target price on shares of Spirit Airlines from $92.00 to $83.00 and set an “outperform” rating for the company in a research report on Thursday, March 28th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $69.33.
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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