Wedge Capital Management L L P NC Trims Holdings in Spirit Airlines Incorporated (NASDAQ:SAVE)

Wedge Capital Management L L P NC decreased its holdings in Spirit Airlines Incorporated (NASDAQ:SAVE) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 206,211 shares of the transportation company’s stock after selling 1,713 shares during the quarter. Wedge Capital Management L L P NC owned about 0.30% of Spirit Airlines worth $9,842,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Spirit Airlines by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,341,595 shares of the transportation company’s stock valued at $251,464,000 after buying an additional 114,209 shares during the period. OppenheimerFunds Inc. grew its stake in shares of Spirit Airlines by 18.6% during the 1st quarter. OppenheimerFunds Inc. now owns 2,807,700 shares of the transportation company’s stock worth $148,415,000 after purchasing an additional 440,339 shares during the period. Scout Investments Inc. grew its stake in shares of Spirit Airlines by 421.7% during the 2nd quarter. Scout Investments Inc. now owns 901,161 shares of the transportation company’s stock worth $43,012,000 after purchasing an additional 728,431 shares during the period. Geode Capital Management LLC grew its stake in shares of Spirit Airlines by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 748,803 shares of the transportation company’s stock worth $43,370,000 after purchasing an additional 53,696 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of Spirit Airlines by 100.4% during the 1st quarter. Victory Capital Management Inc. now owns 717,036 shares of the transportation company’s stock worth $37,903,000 after purchasing an additional 359,285 shares during the period.

A number of equities analysts have recently weighed in on the stock. BidaskClub raised shares of Spirit Airlines from a “hold” rating to a “buy” rating in a research note on Friday, July 26th. Imperial Capital lowered their price target on shares of Spirit Airlines from $78.00 to $64.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Credit Suisse Group cut shares of Spirit Airlines from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $68.00 to $51.00 in a research note on Friday, July 26th. Macquarie cut shares of Spirit Airlines from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $71.00 to $47.00 in a research note on Monday, July 29th. Finally, Bank of America cut shares of Spirit Airlines from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $71.00 to $61.00 in a research note on Thursday, April 25th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $61.00.

NASDAQ SAVE traded up $0.13 during trading hours on Thursday, reaching $37.60. The company’s stock had a trading volume of 3,740 shares, compared to its average volume of 1,161,885. Spirit Airlines Incorporated has a fifty-two week low of $37.20 and a fifty-two week high of $65.35. The business’s 50-day moving average price is $46.67.

Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.69 EPS for the quarter, beating the Zacks’ consensus estimate of $1.64 by $0.05. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.01 billion. Spirit Airlines’s revenue was up 18.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.11 earnings per share.

In other news, insider Edward M. Christie III bought 2,375 shares of Spirit Airlines stock in a transaction on Tuesday, July 30th. The shares were bought at an average cost of $41.93 per share, for a total transaction of $99,583.75. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert D. Johnson sold 750 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $45.97, for a total transaction of $34,477.50. The disclosure for this sale can be found here. Over the last three months, insiders purchased 5,051 shares of company stock worth $211,885. 0.33% of the stock is owned by corporate 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.

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

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