American International Group Inc. decreased its stake in shares of Spirit Airlines Incorporated (NASDAQ:SAVE) by 0.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 45,191 shares of the transportation company’s stock after selling 348 shares during the quarter. American International Group Inc.’s holdings in Spirit Airlines were worth $2,617,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the business. Penserra Capital Management LLC bought a new stake in shares of Spirit Airlines in the 4th quarter worth $29,000. Captrust Financial Advisors increased its holdings in shares of Spirit Airlines by 162.5% in the 4th quarter. Captrust Financial Advisors now owns 1,008 shares of the transportation company’s stock worth $58,000 after purchasing an additional 624 shares in the last quarter. Ffcm LLC increased its holdings in shares of Spirit Airlines by 2,695.4% in the 4th quarter. Ffcm LLC now owns 3,019 shares of the transportation company’s stock worth $175,000 after purchasing an additional 2,911 shares in the last quarter. Gideon Capital Advisors Inc. bought a new stake in shares of Spirit Airlines in the 4th quarter worth $204,000. Finally, Ibex Investors LLC bought a new stake in shares of Spirit Airlines in the 4th quarter worth $223,000.
Shares of SAVE opened at $51.55 on Tuesday. Spirit Airlines Incorporated has a one year low of $34.36 and a one year high of $65.35.
In related news, Director Robert D. Johnson sold 750 shares of Spirit Airlines stock in a transaction on Friday, March 1st. The stock was sold at an average price of $56.68, for a total value of $42,510.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.33% of the company’s stock.
A number of research firms have commented on SAVE. Cowen reissued an “outperform” rating and issued a $76.00 target price (up previously from $71.00) on shares of Spirit Airlines in a report on Thursday, January 17th. Barclays raised Spirit Airlines from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $65.00 to $70.00 in a report on Monday, March 11th. Stephens reissued an “overweight” rating and issued a $78.00 target price (up previously from $74.00) on shares of Spirit Airlines in a report on Wednesday, February 6th. JPMorgan Chase & Co. raised Spirit Airlines from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $59.00 to $82.00 in a report on Wednesday, November 28th. Finally, Imperial Capital lifted their target price on Spirit Airlines from $90.00 to $98.00 and gave the stock an “outperform” rating in a report on Tuesday, November 27th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $69.87.
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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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