Migdal Insurance & Financial Holdings Ltd. Has $57,000 Position in Spirit Airlines, Inc. (NYSE:SAVE)

Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Spirit Airlines, Inc. (NYSE:SAVE) by 862.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,466 shares of the company’s stock after acquiring an additional 3,106 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Spirit Airlines were worth $57,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Spirit Airlines by 0.3% during the third quarter. Vanguard Group Inc. now owns 10,350,193 shares of the company’s stock worth $170,778,000 after buying an additional 34,883 shares during the last quarter. FMR LLC grew its stake in shares of Spirit Airlines by 1.3% in the 3rd quarter. FMR LLC now owns 5,296,283 shares of the company’s stock worth $87,389,000 after acquiring an additional 67,977 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Spirit Airlines by 37.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,637,683 shares of the company’s stock worth $79,557,000 after acquiring an additional 997,254 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Spirit Airlines by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 2,142,802 shares of the company’s stock worth $36,770,000 after acquiring an additional 55,929 shares in the last quarter. Finally, Alpine Associates Management Inc. grew its stake in shares of Spirit Airlines by 29.7% in the 3rd quarter. Alpine Associates Management Inc. now owns 1,904,500 shares of the company’s stock worth $31,424,000 after acquiring an additional 436,486 shares in the last quarter. Institutional investors and hedge funds own 58.73% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Bank of America assumed coverage on shares of Spirit Airlines in a research note on Wednesday, January 17th. They issued an “underperform” rating and a $5.00 target price for the company. Seaport Res Ptn lowered shares of Spirit Airlines from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 17th. Evercore ISI reduced their target price on shares of Spirit Airlines from $18.00 to $3.50 and set an “in-line” rating for the company in a research note on Thursday, April 4th. TD Cowen reduced their target price on shares of Spirit Airlines from $5.00 to $4.00 and set a “hold” rating for the company in a research note on Tuesday. Finally, Citigroup reduced their price target on shares of Spirit Airlines from $4.00 to $3.85 and set a “sell” rating for the company in a research report on Wednesday. Five research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat, Spirit Airlines currently has an average rating of “Reduce” and an average target price of $4.91.

Spirit Airlines Trading Down 1.7 %

Shares of SAVE stock opened at $4.04 on Friday. The company has a 50 day moving average of $5.22 and a 200-day moving average of $10.36. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.90 and a current ratio of 0.90. Spirit Airlines, Inc. has a 12-month low of $3.96 and a 12-month high of $19.69.

Spirit Airlines (NYSE:SAVE) last issued its quarterly earnings results on Thursday, February 8th. The company reported ($1.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.42) by $0.06. Spirit Airlines had a negative net margin of 8.34% and a negative return on equity of 26.38%. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business posted $0.12 EPS. Spirit Airlines’s quarterly revenue was down 5.0% compared to the same quarter last year. As a group, analysts predict that Spirit Airlines, Inc. will post -2.8 earnings per share for the current fiscal year.

Spirit Airlines Announces Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, February 29th. Investors of record on Friday, February 23rd were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, February 22nd.

About Spirit Airlines

Spirit Airlines, Inc provides airline services. The company also offers hotels and rental cars services. It serves 93 destinations in 15 countries in the United States, Latin America, and the Caribbean. As of December 31, 2023, the company operated a fleet of 205 Airbus single-aisle aircraft. The company was formerly known as Clippert Trucking Company and changed its name to Spirit Airlines, Inc in 1992.