Bank of Montreal Can reduced its position in Spirit Airlines, Inc. (NASDAQ:SAVE) by 2.1% during the second quarter, Holdings Channel reports. The fund owned 69,933 shares of the transportation company’s stock after selling 1,495 shares during the period. Bank of Montreal Can’s holdings in Spirit Airlines were worth $3,612,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SAVE. Vanguard Group Inc. boosted its position in shares of Spirit Airlines by 4.4% in the first quarter. Vanguard Group Inc. now owns 5,364,771 shares of the transportation company’s stock worth $284,708,000 after buying an additional 228,176 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Spirit Airlines by 24.3% in the first quarter. Wells Fargo & Company MN now owns 3,093,057 shares of the transportation company’s stock worth $164,148,000 after buying an additional 604,447 shares during the last quarter. BlackRock Inc. boosted its position in shares of Spirit Airlines by 7,002.6% in the first quarter. BlackRock Inc. now owns 2,691,469 shares of the transportation company’s stock worth $142,838,000 after buying an additional 2,653,575 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Spirit Airlines by 9.6% in the first quarter. Jennison Associates LLC now owns 2,648,627 shares of the transportation company’s stock worth $140,563,000 after buying an additional 231,088 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Spirit Airlines by 3.9% in the first quarter. Mackenzie Financial Corp now owns 1,743,502 shares of the transportation company’s stock worth $92,528,000 after buying an additional 64,996 shares during the last quarter.

Spirit Airlines, Inc. (NASDAQ SAVE) traded down 0.59% during mid-day trading on Friday, reaching $39.05. The company had a trading volume of 2,835,247 shares. The stock has a 50 day moving average price of $50.71 and a 200-day moving average price of $53.17. Spirit Airlines, Inc. has a 12-month low of $37.17 and a 12-month high of $60.40. The stock has a market capitalization of $2.71 billion, a P/E ratio of 11.32 and a beta of 0.57.

Spirit Airlines (NASDAQ:SAVE) last announced its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.11 by $0.03. The firm had revenue of $701.68 million for the quarter, compared to analyst estimates of $702.29 million. Spirit Airlines had a return on equity of 17.96% and a net margin of 9.62%. The company’s revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.11 EPS. Equities analysts anticipate that Spirit Airlines, Inc. will post $3.61 EPS for the current fiscal year.

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SAVE has been the topic of a number of recent analyst reports. Wolfe Research upgraded Spirit Airlines from a “market perform” rating to an “outperform” rating in a research report on Friday, June 2nd. Deutsche Bank AG restated a “buy” rating and issued a $54.00 price target (down previously from $69.00) on shares of Spirit Airlines in a research report on Sunday, July 30th. Morgan Stanley restated an “equal weight” rating and issued a $56.00 price target (down previously from $60.00) on shares of Spirit Airlines in a research report on Tuesday, July 25th. Stifel Nicolaus restated a “buy” rating and issued a $55.00 price target (down previously from $75.00) on shares of Spirit Airlines in a research report on Sunday, July 30th. Finally, Zacks Investment Research cut Spirit Airlines from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Spirit Airlines presently has a consensus rating of “Hold” and an average target price of $54.96.

About Spirit Airlines

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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