Alliancebernstein L.P. lowered its stake in shares of Spirit Airlines, Inc. (NASDAQ:SAVE) by 4.3% during the first quarter, Holdings Channel reports. The firm owned 40,755 shares of the transportation company’s stock after selling 1,833 shares during the period. Alliancebernstein L.P.’s holdings in Spirit Airlines were worth $2,163,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Middleton & Co Inc MA boosted its stake in shares of Spirit Airlines by 0.3% in the first quarter. Middleton & Co Inc MA now owns 17,275 shares of the transportation company’s stock valued at $917,000 after buying an additional 45 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Spirit Airlines by 2.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,731 shares of the transportation company’s stock valued at $216,000 after buying an additional 92 shares during the period. Cadence Capital Management LLC boosted its stake in shares of Spirit Airlines by 3.8% in the first quarter. Cadence Capital Management LLC now owns 13,244 shares of the transportation company’s stock valued at $703,000 after buying an additional 480 shares during the period. Parkwood LLC boosted its stake in shares of Spirit Airlines by 24.9% in the first quarter. Parkwood LLC now owns 6,675 shares of the transportation company’s stock valued at $354,000 after buying an additional 1,332 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in shares of Spirit Airlines by 22.3% in the first quarter. Pacer Advisors Inc. now owns 8,233 shares of the transportation company’s stock valued at $437,000 after buying an additional 1,500 shares during the period.

Shares of Spirit Airlines, Inc. (NASDAQ SAVE) opened at 53.40 on Tuesday. The stock has a 50 day moving average price of $53.88 and a 200-day moving average price of $54.52. Spirit Airlines, Inc. has a 52-week low of $37.17 and a 52-week high of $60.40. The firm has a market cap of $3.70 billion, a PE ratio of 15.87 and a beta of 0.63.

Spirit Airlines (NASDAQ:SAVE) last issued its earnings results on Friday, April 28th. The transportation company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. The firm had revenue of $591.80 million during the quarter, compared to the consensus estimate of $591.31 million. Spirit Airlines had a net margin of 9.89% and a return on equity of 18.60%. The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 earnings per share. On average, equities analysts anticipate that Spirit Airlines, Inc. will post $4.15 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This story was published by Daily Political and is the sole property of of Daily Political. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The correct version of this story can be viewed at https://www.dailypolitical.com/2017/07/18/alliancebernstein-l-p-cuts-position-in-spirit-airlines-inc-save.html.

Several brokerages have issued reports on SAVE. Morgan Stanley reaffirmed an “equal weight” rating and set a $60.00 target price (down previously from $61.00) on shares of Spirit Airlines in a research report on Thursday, July 13th. Imperial Capital increased their target price on Spirit Airlines from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, May 1st. Cowen and Company increased their target price on Spirit Airlines from $58.00 to $62.00 and gave the company a “market perform” rating in a research report on Tuesday, April 18th. Bank of America Corporation dropped their target price on Spirit Airlines from $75.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, June 30th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $75.00 target price on shares of Spirit Airlines in a research report on Saturday, April 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and three have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $63.46.

In other Spirit Airlines news, VP Edmundo Miranda sold 3,131 shares of the company’s stock in a transaction on Friday, May 5th. The shares were sold at an average price of $59.39, for a total value of $185,950.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

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.

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).

Institutional Ownership by Quarter for Spirit Airlines (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.