Spirit Airlines Incorporated (SAVE) Stake Increased by DekaBank Deutsche Girozentrale
DekaBank Deutsche Girozentrale lifted its position in shares of Spirit Airlines Incorporated (NASDAQ:SAVE) by 134.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 103,200 shares of the transportation company’s stock after acquiring an additional 59,200 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Spirit Airlines were worth $4,907,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of SAVE. JPMorgan Chase & Co. lifted its stake in shares of Spirit Airlines by 786.9% during the third quarter. JPMorgan Chase & Co. now owns 124,312 shares of the transportation company’s stock worth $5,839,000 after purchasing an additional 110,295 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Spirit Airlines by 496.8% during the fourth quarter. Bank of Montreal Can now owns 6,672 shares of the transportation company’s stock worth $387,000 after purchasing an additional 5,554 shares in the last quarter. Strs Ohio lifted its stake in shares of Spirit Airlines by 81.8% during the fourth quarter. Strs Ohio now owns 10,000 shares of the transportation company’s stock worth $579,000 after purchasing an additional 4,500 shares in the last quarter. Fosun International Ltd acquired a new position in shares of Spirit Airlines during the fourth quarter worth about $228,000. Finally, Rhumbline Advisers lifted its stake in shares of Spirit Airlines by 41.5% in the fourth quarter. Rhumbline Advisers now owns 101,618 shares of the transportation company’s stock worth $5,886,000 after acquiring an additional 29,778 shares in the last quarter.
SAVE has been the topic of several recent analyst reports. Bank of America cut Spirit Airlines from a “buy” rating to a “neutral” rating and cut their price target for the stock from $71.00 to $61.00 in a research note on Thursday, April 25th. Raymond James cut their price target on Spirit Airlines from $80.00 to $75.00 and set a “strong-buy” rating on the stock in a research note on Friday, April 26th. Morgan Stanley cut their price target on Spirit Airlines from $68.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Monday, May 20th. Goldman Sachs Group upgraded Spirit Airlines from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $78.00 to $85.00 in a research note on Thursday, February 7th. Finally, Imperial Capital reiterated an “outperform” rating and issued a $78.00 price target (down previously from $83.00) on shares of Spirit Airlines in a research note on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $68.53.
NASDAQ:SAVE opened at $47.22 on Tuesday. Spirit Airlines Incorporated has a one year low of $34.36 and a one year high of $65.35.
Spirit Airlines (NASDAQ:SAVE) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.84 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.84. The firm had revenue of $855.80 million during the quarter, compared to the consensus estimate of $855.77 million. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 earnings per share.
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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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