Kempen Capital Management N.V. Purchases 15,567 Shares of Spirit Airlines, Inc. (SAVE)
Kempen Capital Management N.V. lifted its position in Spirit Airlines, Inc. (NASDAQ:SAVE) by 38.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,590 shares of the transportation company’s stock after buying an additional 15,567 shares during the quarter. Kempen Capital Management N.V. owned about 0.08% of Spirit Airlines worth $2,871,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in SAVE. Canada Pension Plan Investment Board lifted its holdings in Spirit Airlines by 58.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 44,200 shares of the transportation company’s stock worth $2,346,000 after purchasing an additional 16,300 shares during the last quarter. Empire Life Investments Inc. lifted its holdings in Spirit Airlines by 7.4% in the 1st quarter. Empire Life Investments Inc. now owns 82,740 shares of the transportation company’s stock worth $3,654,000 after purchasing an additional 5,689 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Spirit Airlines by 3.3% in the 1st quarter. Bank of New York Mellon Corp now owns 323,709 shares of the transportation company’s stock worth $17,179,000 after purchasing an additional 10,452 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Spirit Airlines by 286.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 13,271 shares of the transportation company’s stock worth $704,000 after purchasing an additional 9,841 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new stake in Spirit Airlines in the 1st quarter worth approximately $368,000. 96.99% of the stock is owned by institutional investors and hedge funds.
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Shares of Spirit Airlines, Inc. (NASDAQ:SAVE) traded down 1.51% on Monday, hitting $33.18. The company had a trading volume of 346,635 shares. The company has a market capitalization of $2.30 billion, a P/E ratio of 9.62 and a beta of 0.62. Spirit Airlines, Inc. has a 12-month low of $30.32 and a 12-month high of $60.40. The firm has a 50-day moving average price of $36.30 and a 200 day moving average price of $49.06.
Spirit Airlines (NASDAQ:SAVE) last released its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.03. The business had revenue of $701.68 million during the quarter, compared to analysts’ expectations of $702.29 million. Spirit Airlines had a return on equity of 17.96% and a net margin of 9.62%. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period last year, the firm posted $1.11 EPS. Equities analysts expect that Spirit Airlines, Inc. will post $3.19 EPS for the current year.
SAVE has been the subject of several analyst reports. Wolfe Research upgraded Spirit Airlines from a “market perform” rating to an “outperform” rating in a report on Friday, June 2nd. Deutsche Bank AG restated a “buy” rating and issued a $54.00 target price (down from $69.00) on shares of Spirit Airlines in a report on Sunday, July 30th. Morgan Stanley restated an “equal weight” rating and issued a $56.00 target price (down from $60.00) on shares of Spirit Airlines in a report on Tuesday, July 25th. Stifel Nicolaus restated a “buy” rating and issued a $55.00 target price (down from $75.00) on shares of Spirit Airlines in a report on Sunday, July 30th. Finally, Zacks Investment Research lowered Spirit Airlines from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $50.59.
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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