Nisa Investment Advisors LLC increased its position in shares of Spirit Airlines, Inc. (NYSE:SAVE – Get Rating) by 84.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 27,550 shares of the company’s stock after acquiring an additional 12,600 shares during the period. Nisa Investment Advisors LLC’s holdings in Spirit Airlines were worth $603,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. raised its holdings in Spirit Airlines by 1.7% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 43,175 shares of the company’s stock worth $943,000 after purchasing an additional 735 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new position in Spirit Airlines during the fourth quarter worth $26,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Spirit Airlines during the fourth quarter worth $31,000. Byrne Asset Management LLC acquired a new position in Spirit Airlines during the first quarter worth $34,000. Finally, Allianz Asset Management GmbH raised its holdings in Spirit Airlines by 18.6% during the fourth quarter. Allianz Asset Management GmbH now owns 10,717 shares of the company’s stock worth $234,000 after purchasing an additional 1,684 shares during the last quarter. 62.67% of the stock is owned by institutional investors and hedge funds.
Spirit Airlines Stock Performance
Spirit Airlines stock opened at $24.02 on Monday. The firm has a market capitalization of $2.61 billion, a P/E ratio of -5.29 and a beta of 1.41. The stock has a fifty day moving average price of $22.25 and a 200 day moving average price of $22.72. Spirit Airlines, Inc. has a 52 week low of $15.92 and a 52 week high of $29.02. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 1.41.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on SAVE shares. Susquehanna Bancshares boosted their price target on Spirit Airlines from $22.00 to $27.00 and gave the stock a “neutral” rating in a report on Tuesday, July 12th. JPMorgan Chase & Co. raised Spirit Airlines from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $24.00 to $30.00 in a report on Friday, June 10th. Susquehanna boosted their price target on Spirit Airlines from $22.00 to $27.00 and gave the stock a “neutral” rating in a report on Tuesday, July 12th. Evercore ISI boosted their price target on Spirit Airlines from $25.00 to $28.00 and gave the stock an “in-line” rating in a report on Monday, June 27th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Spirit Airlines from $38.00 to $27.00 in a report on Thursday, May 5th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $29.92.
Spirit Airlines Company Profile
Spirit Airlines, Inc provides airline services. It serves 85 destinations in 16 countries in the United States, Latin America, and the Caribbean. As of December 31, 2021, the company had a fleet of 173 Airbus single-aisle aircraft. It sells tickets through its call centers and airport ticket counters, as well as online through spirit.com; and through various third parties, including online, traditional travel agents, and electronic global distribution systems.
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