BlackRock Inc. grew its holdings in shares of Spirit Airlines Incorporated (NASDAQ:SAVE) by 2.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,674,471 shares of the transportation company’s stock after purchasing an additional 68,566 shares during the quarter. BlackRock Inc.’s holdings in Spirit Airlines were worth $119,952,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company lifted its stake in shares of Spirit Airlines by 7.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,160 shares of the transportation company’s stock worth $112,000 after purchasing an additional 141 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of Spirit Airlines during the 4th quarter worth $183,000. Victory Capital Management Inc. purchased a new position in shares of Spirit Airlines during the 3rd quarter worth $142,000. Teacher Retirement System of Texas purchased a new position in shares of Spirit Airlines during the 4th quarter worth $263,000. Finally, Mcclain Value Management LLC purchased a new position in shares of Spirit Airlines during the 4th quarter worth $369,000.
Shares of Spirit Airlines stock opened at $39.96 on Friday. Spirit Airlines Incorporated has a twelve month low of $30.32 and a twelve month high of $60.28. The stock has a market capitalization of $3,030.00, a price-to-earnings ratio of 4.47, a P/E/G ratio of 1.82 and a beta of 0.64. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.
A number of brokerages have weighed in on SAVE. ValuEngine raised Spirit Airlines from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Imperial Capital increased their target price on Spirit Airlines from $49.00 to $52.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 13th. Stephens started coverage on Spirit Airlines in a research report on Wednesday, November 29th. They issued an “overweight” rating and a $50.00 target price on the stock. Buckingham Research increased their target price on Spirit Airlines from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, March 2nd. Finally, BidaskClub lowered Spirit Airlines from a “buy” rating to a “hold” rating in a research report on Saturday, January 6th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. Spirit Airlines has a consensus rating of “Hold” and an average target price of $48.25.
In other news, COO John A. Bendoraitis sold 1,690 shares of the firm’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $44.63, for a total transaction of $75,424.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is owned by company insiders.
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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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