Schroder Investment Management Group lifted its position in shares of Spirit Airlines Incorporated (NASDAQ:SAVE) by 15.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,526,134 shares of the transportation company’s stock after buying an additional 206,654 shares during the quarter. Schroder Investment Management Group’s holdings in Spirit Airlines were worth $68,447,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. First Trust Advisors LP grew its position in shares of Spirit Airlines by 71.7% during the 4th quarter. First Trust Advisors LP now owns 960,638 shares of the transportation company’s stock worth $43,085,000 after buying an additional 401,157 shares in the last quarter. Hosking Partners LLP bought a new position in shares of Spirit Airlines during the 4th quarter worth $7,528,000. Barings LLC bought a new position in shares of Spirit Airlines during the 4th quarter worth $386,000. Sentry Investment Management LLC grew its position in shares of Spirit Airlines by 3.7% during the 4th quarter. Sentry Investment Management LLC now owns 73,131 shares of the transportation company’s stock worth $3,280,000 after buying an additional 2,577 shares in the last quarter. Finally, RWC Asset Management LLP bought a new stake in Spirit Airlines during the fourth quarter valued at about $10,316,000.
Shares of Spirit Airlines Incorporated (NASDAQ SAVE) opened at $39.72 on Monday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Spirit Airlines Incorporated has a 12 month low of $30.32 and a 12 month high of $60.28. The company has a market capitalization of $2,760.00, a PE ratio of 6.52, a price-to-earnings-growth ratio of 1.82 and a beta of 0.60.
Spirit Airlines announced that its board has approved a share repurchase plan on Thursday, October 26th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the transportation company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
In other Spirit Airlines news, VP John A. Bendoraitis sold 2,340 shares of the stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $42.92, for a total value of $100,432.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.33% of the company’s stock.
SAVE has been the topic of a number of recent research reports. Deutsche Bank raised Spirit Airlines from a “hold” rating to a “buy” rating and raised their price objective for the company from $40.00 to $58.00 in a research report on Thursday, December 21st. Stifel Nicolaus downgraded Spirit Airlines from a “buy” rating to a “hold” rating and raised their price objective for the company from $45.00 to $50.00 in a research report on Monday, January 15th. Bank of America raised Spirit Airlines from a “neutral” rating to a “buy” rating and set a $53.00 price objective on the stock in a research report on Tuesday, January 9th. JPMorgan Chase & Co. downgraded Spirit Airlines from a “neutral” rating to an “underweight” rating and set a $39.00 price objective on the stock. in a research report on Wednesday, November 1st. Finally, Morgan Stanley raised their price objective on Spirit Airlines from $38.00 to $39.00 and gave the company an “equal weight” rating in a research report on Monday, October 23rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $47.33.
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Spirit Airlines Company Profile
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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