Bank of New York Mellon Corp decreased its stake in Spirit Airlines, Inc. (NASDAQ:SAVE) by 10.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 280,826 shares of the company’s stock after selling 31,949 shares during the period. Bank of New York Mellon Corp’s holdings in Spirit Airlines were worth $11,944,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Emerald Acquisition Ltd. purchased a new stake in Spirit Airlines during the second quarter valued at $1,899,000. Palisade Capital Management LLC NJ boosted its stake in Spirit Airlines by 29.7% in the second quarter. Palisade Capital Management LLC NJ now owns 72,660 shares of the company’s stock valued at $3,260,000 after buying an additional 16,632 shares during the period. New Amsterdam Partners LLC NY boosted its stake in Spirit Airlines by 100.0% in the second quarter. New Amsterdam Partners LLC NY now owns 235,524 shares of the company’s stock valued at $10,568,000 after buying an additional 117,743 shares during the period. South Texas Money Management Ltd. boosted its stake in Spirit Airlines by 79.9% in the second quarter. South Texas Money Management Ltd. now owns 159,482 shares of the company’s stock valued at $7,156,000 after buying an additional 70,842 shares during the period. Finally, Wedge Capital Management L L P NC purchased a new stake in Spirit Airlines during the second quarter valued at $183,000. Institutional investors own 95.74% of the company’s stock.

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

Spirit Airlines, Inc. (NASDAQ:SAVE) opened at 56.58 on Friday. The company’s 50-day moving average is $56.86 and its 200 day moving average is $46.60. Spirit Airlines, Inc. has a 52 week low of $35.17 and a 52 week high of $60.40. The stock has a market cap of $3.92 billion, a PE ratio of 13.84 and a beta of 0.81.

Spirit Airlines (NASDAQ:SAVE) last posted its earnings results on Tuesday, October 25th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.07. The business had revenue of $621.30 million for the quarter, compared to analysts’ expectations of $611.52 million. Spirit Airlines had a net margin of 12.85% and a return on equity of 24.09%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.35 EPS. On average, analysts expect that Spirit Airlines, Inc. will post $4.03 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Bank of New York Mellon Corp Reduces Position in Spirit Airlines, Inc. (SAVE)” was first posted by Daily Political and is owned by of Daily Political. If you are viewing this story on another website, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The correct version of this story can be read at http://www.dailypolitical.com/2017/01/14/bank-of-new-york-mellon-corp-reduces-position-in-spirit-airlines-inc-save.html.

A number of equities research analysts have commented on the stock. Morgan Stanley restated an “equal weight” rating on shares of Spirit Airlines in a report on Friday, December 16th. Barclays PLC assumed coverage on shares of Spirit Airlines in a report on Thursday, December 15th. They issued an “equal weight” rating and a $67.00 price target for the company. Cowen and Company cut shares of Spirit Airlines from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $53.00 to $58.00 in a report on Wednesday, January 4th. Zacks Investment Research upgraded shares of Spirit Airlines from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Thursday. Finally, Citigroup Inc. lowered shares of Spirit Airlines from a “buy” rating to a “neutral” rating and raised their price target for the company from $52.00 to $61.00 in a research report on Friday, November 18th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Spirit Airlines has an average rating of “Buy” and an average price target of $60.05.

In other news, VP Scott Haralson sold 2,951 shares of the stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $51.32, for a total value of $151,445.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Edmundo Miranda sold 4,600 shares of the stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $59.42, for a total transaction of $273,332.00. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Spirit Airlines Company Profile

Spirit Airlines, Inc is an airline company. The Company’s all-Airbus fleet operates more than 385 daily flights to 56 destinations in the United States, Caribbean and Latin America. Its ultra-low-cost carrier (ULCC) business model provides low, unbundled base fares that remove components traditionally included in the price of an airline ticket.

5 Day Chart for NASDAQ:SAVE

Want to see what other hedge funds are holding SAVE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spirit Airlines, Inc. (NASDAQ:SAVE).

Receive News & Ratings for Spirit Airlines Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Airlines Inc. and related companies with MarketBeat.com's FREE daily email newsletter.