11,600 Shares in Spirit Airlines, Inc. (SAVE) Acquired by Trexquant Investment LP
Trexquant Investment LP bought a new stake in Spirit Airlines, Inc. (NASDAQ:SAVE) during the second quarter, Holdings Channel reports. The institutional investor bought 11,600 shares of the transportation company’s stock, valued at approximately $599,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of SAVE. James Investment Research Inc. purchased a new position in shares of Spirit Airlines during the first quarter valued at $137,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Spirit Airlines during the first quarter valued at $346,000. Parkwood LLC increased its position 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 in the last quarter. Karp Capital Management Corp purchased a new position in shares of Spirit Airlines during the first quarter valued at $368,000. Finally, NJ State Employees Deferred Compensation Plan purchased a new position in shares of Spirit Airlines during the first quarter valued at $371,000.
Shares of Spirit Airlines, Inc. (NASDAQ SAVE) opened at 38.25 on Friday. The stock’s 50 day moving average is $47.38 and its 200 day moving average is $52.24. The stock has a market capitalization of $2.65 billion, a PE ratio of 11.09 and a beta of 0.57. Spirit Airlines, Inc. has a 12 month low of $37.17 and a 12 month high of $60.40.
Spirit Airlines (NASDAQ:SAVE) last announced its earnings results on Thursday, July 27th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.03. The business had revenue of $701.68 million for the quarter, compared to analyst estimates of $702.29 million. Spirit Airlines had a net margin of 9.62% and a return on equity of 17.96%. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.11 earnings per share. Analysts anticipate that Spirit Airlines, Inc. will post $3.61 earnings per share for the current fiscal year.
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Several research analysts recently weighed in on SAVE shares. Deutsche Bank AG dropped their target price on shares of Spirit Airlines from $71.00 to $69.00 and set a “buy” rating for the company in a report on Wednesday, July 12th. Bank of America Corporation dropped their target price on shares of Spirit Airlines from $75.00 to $68.00 and set a “buy” rating for the company in a report on Friday, June 30th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $75.00 target price on shares of Spirit Airlines in a report on Saturday, April 22nd. Citigroup Inc. raised shares of Spirit Airlines from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $65.00 to $52.00 in a report on Friday, July 28th. Finally, TheStreet downgraded shares of Spirit Airlines from a “b-” rating to a “c+” rating in a report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $54.96.
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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