Symphony Asset Management LLC lowered its stake in shares of Spirit Airlines, Inc. (NASDAQ:SAVE) by 56.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,591 shares of the transportation company’s stock after selling 12,579 shares during the period. Symphony Asset Management LLC’s holdings in Spirit Airlines were worth $495,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Camarda Financial Advisors LLC boosted its holdings in Spirit Airlines by 0.3% during the second quarter. Camarda Financial Advisors LLC now owns 32,224 shares of the transportation company’s stock worth $1,664,000 after buying an additional 101 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Spirit Airlines by 0.3% during the first quarter. Public Employees Retirement System of Ohio now owns 96,711 shares of the transportation company’s stock worth $5,132,000 after buying an additional 246 shares during the last quarter. Aperio Group LLC boosted its holdings in Spirit Airlines by 4.6% during the second quarter. Aperio Group LLC now owns 7,260 shares of the transportation company’s stock worth $375,000 after buying an additional 322 shares during the last quarter. Amalgamated Bank boosted its holdings in Spirit Airlines by 3.4% during the first quarter. Amalgamated Bank now owns 10,252 shares of the transportation company’s stock worth $544,000 after buying an additional 333 shares during the last quarter. Finally, Grandeur Peak Global Advisors LLC boosted its holdings in Spirit Airlines by 0.4% during the first quarter. Grandeur Peak Global Advisors LLC now owns 100,700 shares of the transportation company’s stock worth $5,344,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 97.00% of the company’s stock.

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Spirit Airlines, Inc. (SAVE) opened at 34.87 on Friday. The stock’s 50 day moving average price is $36.48 and its 200 day moving average price is $49.20. The company has a market capitalization of $2.42 billion, a P/E ratio of 10.11 and a beta of 0.62. Spirit Airlines, Inc. has a 52 week low of $30.32 and a 52 week high of $60.40.

Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.03. The company had revenue of $701.68 million during the quarter, compared to the consensus estimate of $702.29 million. Spirit Airlines had a return on equity of 17.96% and a net margin of 9.62%. Spirit Airlines’s revenue was up 20.1% on a year-over-year basis. During the same period last year, the business posted $1.11 earnings per share. Analysts anticipate that Spirit Airlines, Inc. will post $3.19 earnings per share for the current year.

A number of equities research analysts have recently commented on the company. J P Morgan Chase & Co lowered Spirit Airlines from an “overweight” rating to a “neutral” rating in a research report on Friday. Bank of America Corporation lowered Spirit Airlines from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $68.00 to $44.00 in a research report on Friday, July 28th. Cowen and Company reaffirmed a “market perform” rating and set a $59.00 price target on shares of Spirit Airlines in a research report on Tuesday, July 18th. Morgan Stanley reaffirmed an “equal weight” rating and set a $60.00 price target (down previously from $61.00) on shares of Spirit Airlines in a research report on Thursday, July 13th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $55.00 price target (down previously from $75.00) on shares of Spirit Airlines in a research report on Sunday, July 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $51.32.

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.

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

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