Bank of Stockton bought a new stake in Spirit Airlines, Inc. (NYSE:SAVE – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 25,000 shares of the company’s stock, valued at approximately $60,000.
Several other institutional investors also recently modified their holdings of SAVE. Signaturefd LLC increased its holdings in Spirit Airlines by 127.6% in the second quarter. Signaturefd LLC now owns 7,926 shares of the company’s stock valued at $29,000 after purchasing an additional 4,443 shares during the last quarter. High Note Wealth LLC bought a new stake in shares of Spirit Airlines in the 3rd quarter valued at about $36,000. Natixis raised its position in shares of Spirit Airlines by 29.1% in the 1st quarter. Natixis now owns 12,480 shares of the company’s stock valued at $60,000 after acquiring an additional 2,815 shares during the period. SeaCrest Wealth Management LLC bought a new position in Spirit Airlines during the 2nd quarter worth approximately $63,000. Finally, Wellington Wealth Strategies LLC. acquired a new position in Spirit Airlines during the first quarter valued at approximately $68,000. Institutional investors and hedge funds own 58.73% of the company’s stock.
Spirit Airlines Price Performance
Shares of NYSE SAVE opened at $2.80 on Friday. The company has a debt-to-equity ratio of 3.86, a current ratio of 0.94 and a quick ratio of 0.94. The business has a 50-day moving average of $2.34 and a 200-day moving average of $3.08. The stock has a market capitalization of $306.06 million, a price-to-earnings ratio of -0.63 and a beta of 1.38. Spirit Airlines, Inc. has a fifty-two week low of $1.40 and a fifty-two week high of $17.01.
Wall Street Analysts Forecast Growth
SAVE has been the topic of several analyst reports. Raymond James lowered shares of Spirit Airlines from a “market perform” rating to an “underperform” rating in a report on Friday, July 5th. TD Cowen cut Spirit Airlines from a “hold” rating to a “sell” rating and decreased their target price for the company from $3.00 to $2.00 in a research note on Wednesday, July 17th. Bank of America lowered their price target on Spirit Airlines from $3.25 to $2.75 and set an “underperform” rating for the company in a report on Wednesday, July 17th. Citigroup cut their price objective on Spirit Airlines from $3.50 to $2.75 and set a “sell” rating on the stock in a report on Tuesday, July 23rd. Finally, Barclays lowered their target price on Spirit Airlines from $4.00 to $3.00 and set an “underweight” rating for the company in a research note on Wednesday, July 10th. Seven investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $2.50.
Check Out Our Latest Stock Analysis on SAVE
Spirit Airlines Company Profile
Spirit Airlines, Inc provides airline services. The company also offers hotels and rental cars services. It serves 93 destinations in 15 countries in the United States, Latin America, and the Caribbean. As of December 31, 2023, the company operated a fleet of 205 Airbus single-aisle aircraft. The company was formerly known as Clippert Trucking Company and changed its name to Spirit Airlines, Inc in 1992.
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