Swiss National Bank decreased its stake in shares of Spirit Airlines Inc. (NASDAQ:SAVE) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,200 shares of the company’s stock after selling 600 shares during the period. Swiss National Bank’s holdings in Spirit Airlines were worth $1,355,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the stock. RS Investment Management Co. LLC raised its position in shares of Spirit Airlines by 11.9% in the second quarter. RS Investment Management Co. LLC now owns 772,956 shares of the company’s stock valued at $34,683,000 after buying an additional 82,317 shares during the last quarter. Wellington Management Group LLP raised its position in Spirit Airlines by 583.0% in the first quarter. Wellington Management Group LLP now owns 1,618,183 shares of the company’s stock valued at $77,641,000 after buying an additional 1,381,250 shares in the last quarter. Aperio Group LLC raised its position in Spirit Airlines by 45.3% in the first quarter. Aperio Group LLC now owns 7,332 shares of the company’s stock valued at $352,000 after buying an additional 2,286 shares in the last quarter. Nicholas Investment Partners LP purchased a new position in Spirit Airlines during the first quarter valued at about $1,380,000. Finally, Artemis Investment Management LLP raised its position in Spirit Airlines by 31.1% in the second quarter. Artemis Investment Management LLP now owns 623,790 shares of the company’s stock valued at $28,002,000 after buying an additional 148,133 shares in the last quarter. 98.20% of the stock is currently owned by institutional investors.
Shares of Spirit Airlines Inc. (NASDAQ:SAVE) traded down 0.53% on Thursday, hitting $41.66. 1,513,951 shares of the company’s stock were exchanged. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 9.72 and a beta of 1.06. The company’s 50-day moving average price is $39.58 and its 200 day moving average price is $43.44. Spirit Airlines Inc. has a 12-month low of $32.73 and a 12-month high of $53.53.
Spirit Airlines (NASDAQ:SAVE) last announced its quarterly earnings data on Friday, July 29th. The company reported $1.11 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.03. Spirit Airlines had a net margin of 13.83% and a return on equity of 25.93%. The company had revenue of $584.10 million for the quarter, compared to the consensus estimate of $594.47 million. During the same period in the prior year, the firm posted $1.03 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities analysts predict that Spirit Airlines Inc. will post $3.91 earnings per share for the current fiscal year.
Several equities analysts have issued reports on SAVE shares. Deutsche Bank AG cut their price target on shares of Spirit Airlines from $56.00 to $52.00 and set a “buy” rating on the stock in a report on Monday, August 1st. Credit Suisse Group AG set a $55.00 price target on shares of Spirit Airlines and gave the stock a “buy” rating in a report on Tuesday, September 13th. Citigroup Inc. reaffirmed a “buy” rating and issued a $56.00 price target on shares of Spirit Airlines in a report on Tuesday, July 19th. Zacks Investment Research lowered shares of Spirit Airlines from a “hold” rating to a “strong sell” rating in a report on Wednesday, June 29th. Finally, Wolfe Research lowered shares of Spirit Airlines from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 2nd. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Spirit Airlines has a consensus rating of “Buy” and an average target price of $58.96.
Spirit Airlines Company Profile
Spirit Airlines, Inc is an airline company. The Company’s all-Airbus fleet operates more than 385 daily flights to 56 destinations in the United States, Caribbean and Latin America. Its ultra-low-cost carrier (ULCC) business model provides low, unbundled base fares that remove components traditionally included in the price of an airline ticket.
Want to see what other hedge funds are holding SAVE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spirit Airlines Inc. (NASDAQ:SAVE).
Receive News & Ratings for Spirit Airlines Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Airlines Inc. and related companies with MarketBeat.com's FREE daily email newsletter.