Sciencast Management LP Acquires New Stake in Spirit Airlines Incorporated (SAVE)

Sciencast Management LP bought a new position in shares of Spirit Airlines Incorporated (NASDAQ:SAVE) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 5,902 shares of the transportation company’s stock, valued at approximately $323,000.

Several other institutional investors have also recently made changes to their positions in the stock. Deutsche Bank AG boosted its stake in shares of Spirit Airlines by 203.0% in the 4th quarter. Deutsche Bank AG now owns 437,466 shares of the transportation company’s stock valued at $25,336,000 after purchasing an additional 293,080 shares during the last quarter. MUFG Securities EMEA plc bought a new position in shares of Spirit Airlines in the 4th quarter valued at about $8,700,000. Geode Capital Management LLC boosted its stake in shares of Spirit Airlines by 7.7% in the 4th quarter. Geode Capital Management LLC now owns 748,803 shares of the transportation company’s stock valued at $43,370,000 after purchasing an additional 53,696 shares during the last quarter. Norges Bank bought a new position in shares of Spirit Airlines in the 4th quarter valued at about $15,630,000. Finally, Millennium Management LLC boosted its stake in Spirit Airlines by 74.7% during the 4th quarter. Millennium Management LLC now owns 618,508 shares of the transportation company’s stock worth $35,824,000 after acquiring an additional 264,423 shares during the last quarter.

SAVE traded up $0.24 during trading on Friday, reaching $49.66. The company had a trading volume of 670,531 shares, compared to its average volume of 1,207,446. Spirit Airlines Incorporated has a 12 month low of $34.36 and a 12 month high of $65.35.

Spirit Airlines (NASDAQ:SAVE) last announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.84 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.84. The company had revenue of $855.80 million during the quarter, compared to the consensus estimate of $855.77 million. During the same period in the previous year, the firm posted $0.44 EPS. The business’s quarterly revenue was up 21.5% compared to the same quarter last year.

In other news, SVP Laurie Villa sold 3,800 shares of Spirit Airlines stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $53.69, for a total value of $204,022.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert D. Johnson sold 750 shares of Spirit Airlines stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $56.68, for a total transaction of $42,510.00. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Several research analysts recently weighed in on SAVE shares. Cowen reissued an “outperform” rating and set a $76.00 price objective (up previously from $71.00) on shares of Spirit Airlines in a research note on Thursday, January 17th. Macquarie set a $81.00 price objective on shares of Spirit Airlines and gave the stock a “buy” rating in a research note on Tuesday, January 29th. Vertical Research started coverage on shares of Spirit Airlines in a research note on Monday, February 4th. They set a “buy” rating on the stock. Stephens reissued an “overweight” rating and set a $78.00 price objective (up previously from $74.00) on shares of Spirit Airlines in a research note on Wednesday, February 6th. Finally, Imperial Capital reissued an “outperform” rating and set a $92.00 price objective (up previously from $90.00) on shares of Spirit Airlines in a research note on Thursday, February 7th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Spirit Airlines has a consensus rating of “Buy” and an average target price of $69.33.

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

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