Principal Financial Group Inc. Sells 1,039,381 Shares of Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY)

Principal Financial Group Inc. trimmed its stake in Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) by 83.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 203,269 shares of the company’s stock after selling 1,039,381 shares during the period. Principal Financial Group Inc. owned 0.38% of Sun Country Airlines worth $3,067,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Assetmark Inc. lifted its position in Sun Country Airlines by 39.0% during the 4th quarter. Assetmark Inc. now owns 3,314 shares of the company’s stock worth $52,000 after acquiring an additional 929 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in Sun Country Airlines during the fourth quarter valued at about $307,000. Illinois Municipal Retirement Fund increased its stake in Sun Country Airlines by 3.7% during the fourth quarter. Illinois Municipal Retirement Fund now owns 21,711 shares of the company’s stock valued at $342,000 after acquiring an additional 776 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Sun Country Airlines during the fourth quarter valued at about $431,000. Finally, HBK Investments L P bought a new position in Sun Country Airlines during the fourth quarter valued at about $943,000.

Sun Country Airlines Price Performance

NASDAQ:SNCY traded down $0.32 during mid-day trading on Friday, reaching $12.05. The stock had a trading volume of 205,455 shares, compared to its average volume of 631,275. The stock has a 50-day simple moving average of $11.39 and a two-hundred day simple moving average of $13.51. The stock has a market capitalization of $633.95 million, a PE ratio of 10.14, a P/E/G ratio of 0.62 and a beta of 1.56. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.61 and a quick ratio of 0.59. Sun Country Airlines Holdings, Inc. has a 12 month low of $9.22 and a 12 month high of $23.80.

Sun Country Airlines (NASDAQ:SNCY) last released its earnings results on Monday, May 6th. The company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.02). Sun Country Airlines had a net margin of 6.48% and a return on equity of 14.35%. The firm had revenue of $311.50 million during the quarter, compared to analyst estimates of $316.23 million. During the same quarter in the previous year, the firm earned $0.68 EPS. Sun Country Airlines’s quarterly revenue was up 5.9% on a year-over-year basis. On average, equities analysts anticipate that Sun Country Airlines Holdings, Inc. will post 1.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on SNCY. Morgan Stanley reaffirmed an “overweight” rating and set a $21.00 price objective on shares of Sun Country Airlines in a report on Thursday, June 20th. TD Cowen boosted their target price on Sun Country Airlines from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Sun Country Airlines currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.67.

Insider Buying and Selling

In related news, CEO Jude Bricker sold 2,086 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $12.62, for a total transaction of $26,325.32. Following the sale, the chief executive officer now directly owns 122,905 shares in the company, valued at approximately $1,551,061.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Jude Bricker sold 2,086 shares of Sun Country Airlines stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $12.62, for a total value of $26,325.32. Following the transaction, the chief executive officer now owns 122,905 shares in the company, valued at approximately $1,551,061.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Grant Whitney sold 5,000 shares of Sun Country Airlines stock in a transaction on Monday, July 1st. The stock was sold at an average price of $12.42, for a total transaction of $62,100.00. Following the completion of the transaction, the senior vice president now owns 26,355 shares in the company, valued at approximately $327,329.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,070 shares of company stock worth $177,685. 3.50% of the stock is owned by insiders.

Sun Country Airlines Company Profile

Sun Country Airlines Holdings, Inc, an air carrier company, operates scheduled passenger, air cargo, charter air transportation, and related services in the United States, Latin America, and internationally. It operates through two segments, Passenger and Cargo. The company also provides crew, maintenance, and insurance services through ad hoc, repeat, short-term, and long-term service contracts; and loyalty program rewards.