Sun Country Airlines (NASDAQ:SNCY) Sets New 52-Week High – Here’s What Happened

Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) reached a new 52-week high on Monday . The company traded as high as $22.29 and last traded at $21.9650, with a volume of 256305 shares. The stock had previously closed at $21.84.

Wall Street Analyst Weigh In

SNCY has been the subject of a number of recent research reports. Zacks Research cut Sun Country Airlines from a “hold” rating to a “strong sell” rating in a research report on Monday, January 26th. Citigroup lifted their price target on shares of Sun Country Airlines from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. TD Cowen downgraded shares of Sun Country Airlines from a “buy” rating to a “hold” rating and reduced their price objective for the company from $21.00 to $18.00 in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $19.00 target price (down from $22.00) on shares of Sun Country Airlines in a research note on Tuesday, January 13th. Finally, Wolfe Research lowered Sun Country Airlines from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 20th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $19.25.

Sun Country Airlines Trading Down 0.9%

The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 0.49 and a beta of 1.58. The company has a quick ratio of 0.73, a current ratio of 0.82 and a debt-to-equity ratio of 0.71. The business has a 50 day moving average price of $15.95 and a 200-day moving average price of $13.47.

Sun Country Airlines (NASDAQ:SNCY) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. Sun Country Airlines had a return on equity of 8.92% and a net margin of 4.69%.The firm had revenue of $280.96 million during the quarter, compared to analysts’ expectations of $272.98 million. During the same quarter in the prior year, the business earned $0.27 EPS. Sun Country Airlines’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, research analysts expect that Sun Country Airlines Holdings, Inc. will post 1.92 EPS for the current fiscal year.

Insider Activity at Sun Country Airlines

In other news, CEO Jude Bricker sold 5,062 shares of the firm’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $17.55, for a total transaction of $88,838.10. Following the completion of the sale, the chief executive officer directly owned 167,982 shares in the company, valued at $2,948,084.10. This trade represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Stephen Andrew Coley sold 2,052 shares of Sun Country Airlines stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $15.09, for a total value of $30,964.68. Following the sale, the senior vice president directly owned 45,040 shares in the company, valued at approximately $679,653.60. The trade was a 4.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 21,378 shares of company stock valued at $343,249. Corporate insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Sun Country Airlines

Hedge funds have recently bought and sold shares of the business. SummerHaven Investment Management LLC raised its position in shares of Sun Country Airlines by 1.3% in the 3rd quarter. SummerHaven Investment Management LLC now owns 63,294 shares of the company’s stock valued at $748,000 after purchasing an additional 806 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Sun Country Airlines by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,487 shares of the company’s stock worth $289,000 after buying an additional 1,014 shares during the last quarter. New York State Teachers Retirement System raised its holdings in Sun Country Airlines by 7.7% in the third quarter. New York State Teachers Retirement System now owns 17,895 shares of the company’s stock valued at $211,000 after acquiring an additional 1,284 shares in the last quarter. Legal & General Group Plc boosted its stake in Sun Country Airlines by 2.1% during the 2nd quarter. Legal & General Group Plc now owns 68,113 shares of the company’s stock valued at $800,000 after acquiring an additional 1,395 shares during the last quarter. Finally, Yousif Capital Management LLC grew its holdings in Sun Country Airlines by 10.2% during the 3rd quarter. Yousif Capital Management LLC now owns 16,252 shares of the company’s stock worth $192,000 after acquiring an additional 1,500 shares in the last quarter.

Sun Country Airlines Company Profile

Sun Country Airlines (NASDAQ: SNCY) is an American ultra-low-cost carrier providing a blend of scheduled and charter passenger services. The carrier focuses on leisure markets, offering nonstop flights to sun and ski destinations across the United States, Mexico and the Caribbean. In addition to its scheduled network, Sun Country operates charter services for sports teams, corporate groups and tour operators, as well as seasonal cargo charters that support e-commerce peak periods.

Founded in 1982 and headquartered in Minneapolis, Minnesota, Sun Country has navigated multiple ownership and restructuring phases.