Spirit Airlines, Inc. (NYSE:SAVE) Stock Position Lifted by IPG Investment Advisors LLC

IPG Investment Advisors LLC raised its holdings in Spirit Airlines, Inc. (NYSE:SAVEFree Report) by 10.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 695,040 shares of the company’s stock after buying an additional 64,580 shares during the quarter. Spirit Airlines accounts for approximately 2.5% of IPG Investment Advisors LLC’s holdings, making the stock its 10th biggest holding. IPG Investment Advisors LLC owned approximately 0.64% of Spirit Airlines worth $11,468,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SAVE. Charles Schwab Investment Management Inc. grew its holdings in shares of Spirit Airlines by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,024,413 shares of the company’s stock worth $16,903,000 after purchasing an additional 37,019 shares during the last quarter. Alpine Associates Management Inc. grew its holdings 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 purchasing an additional 436,486 shares during the last quarter. Swiss National Bank grew its holdings in shares of Spirit Airlines by 2.0% in the 3rd quarter. Swiss National Bank now owns 60,000 shares of the company’s stock worth $990,000 after purchasing an additional 1,200 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC grew its holdings in shares of Spirit Airlines by 112.7% in the 3rd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 672,186 shares of the company’s stock worth $11,091,000 after purchasing an additional 356,184 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Spirit Airlines by 39.4% during the 3rd quarter. Principal Financial Group Inc. now owns 16,248 shares of the company’s stock worth $268,000 after acquiring an additional 4,591 shares during the last quarter. Institutional investors own 65.22% of the company’s stock.

Spirit Airlines Trading Up 0.6 %

Shares of NYSE:SAVE traded up $0.04 during mid-day trading on Monday, reaching $6.69. The stock had a trading volume of 4,735,648 shares, compared to its average volume of 28,413,412. The firm has a market cap of $730.35 million, a PE ratio of -1.64 and a beta of 1.37. The firm has a 50 day simple moving average of $12.24 and a two-hundred day simple moving average of $14.09. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 2.31. Spirit Airlines, Inc. has a twelve month low of $4.04 and a twelve month high of $19.69.

Spirit Airlines (NYSE:SAVEGet Free Report) last announced its quarterly earnings results on Thursday, February 8th. The company reported ($1.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.06. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. Spirit Airlines had a negative net margin of 8.34% and a negative return on equity of 25.06%. Spirit Airlines’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same period last year, the company posted $0.12 EPS. On average, research analysts predict that Spirit Airlines, Inc. will post -3.42 EPS for the current fiscal year.

Spirit Airlines Dividend Announcement

The firm also recently announced a dividend, which was paid on Wednesday, January 31st. Investors of record on Thursday, January 25th were paid a dividend of $0.10 per share. The ex-dividend date was Wednesday, January 24th.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Bank of America assumed coverage on shares of Spirit Airlines in a report on Wednesday, January 17th. They set an “underperform” rating and a $5.00 price objective on the stock. TD Cowen decreased their price objective on shares of Spirit Airlines from $11.00 to $5.00 and set a “market perform” rating on the stock in a report on Monday, January 22nd. Seaport Res Ptn downgraded shares of Spirit Airlines from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 17th. Susquehanna restated a “negative” rating and set a $5.00 target price (down from $15.00) on shares of Spirit Airlines in a research report on Wednesday, January 17th. Finally, Citigroup downgraded shares of Spirit Airlines from a “neutral” rating to a “sell” rating and cut their target price for the company from $13.00 to $4.00 in a research report on Thursday, January 18th. Four analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $8.17.

Read Our Latest Stock Analysis on SAVE

About Spirit Airlines

(Free Report)

Spirit Airlines, Inc provides airline services. The company provides front seats, including wider seats with extra legroom, carry-on and checked baggage, assigned seats, travel insurance, and onboard beverages and snacks, as well as hotels, cars, vacation packages, and cruises services. It serves 92 destinations in 16 countries in the United States, Latin America, and the Caribbean.

See Also

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Institutional Ownership by Quarter for Spirit Airlines (NYSE:SAVE)

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