Healthcare of Ontario Pension Plan Trust Fund Sells 39,600 Shares of Spirit Airlines, Inc. (NYSE:SAVE)

Healthcare of Ontario Pension Plan Trust Fund lowered its stake in Spirit Airlines, Inc. (NYSE:SAVEGet Rating) by 23.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 126,100 shares of the company’s stock after selling 39,600 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.12% of Spirit Airlines worth $3,006,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SAVE. Dimensional Fund Advisors LP increased its stake in shares of Spirit Airlines by 37.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,637,683 shares of the company’s stock valued at $79,557,000 after acquiring an additional 997,254 shares in the last quarter. Versor Investments LP increased its stake in shares of Spirit Airlines by 114.1% in the 2nd quarter. Versor Investments LP now owns 1,549,925 shares of the company’s stock valued at $36,950,000 after acquiring an additional 826,043 shares in the last quarter. Alpine Associates Management Inc. increased its stake in shares of Spirit Airlines by 99.5% in the 2nd quarter. Alpine Associates Management Inc. now owns 1,200,600 shares of the company’s stock valued at $28,622,000 after acquiring an additional 598,900 shares in the last quarter. IndexIQ Advisors LLC bought a new stake in shares of Spirit Airlines in the 1st quarter valued at $9,500,000. Finally, Woodline Partners LP bought a new stake in shares of Spirit Airlines in the 1st quarter valued at $8,876,000. Institutional investors own 68.02% of the company’s stock.

Spirit Airlines Stock Down 0.6 %

Shares of NYSE:SAVE opened at $21.60 on Wednesday. The company’s 50-day moving average is $20.56 and its 200 day moving average is $22.61. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.93 and a quick ratio of 0.93. Spirit Airlines, Inc. has a fifty-two week low of $15.92 and a fifty-two week high of $28.30.

Spirit Airlines (NYSE:SAVEGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.12. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.35 billion. Spirit Airlines had a negative net margin of 7.95% and a negative return on equity of 14.01%. The firm’s quarterly revenue was up 45.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.69) EPS. Equities analysts forecast that Spirit Airlines, Inc. will post -1.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SAVE shares. Melius assumed coverage on shares of Spirit Airlines in a research note on Monday, August 15th. They issued a “hold” rating for the company. StockNews.com assumed coverage on shares of Spirit Airlines in a research note on Wednesday, October 12th. They set a “sell” rating for the company. Citigroup boosted their price target on shares of Spirit Airlines from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 1st. JPMorgan Chase & Co. lowered shares of Spirit Airlines from an “overweight” rating to an “underweight” rating and decreased their price target for the company from $30.00 to $29.00 in a research note on Friday, July 29th. Finally, Cowen lowered shares of Spirit Airlines from an “outperform” rating to a “market perform” rating in a research note on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Spirit Airlines presently has a consensus rating of “Hold” and an average target price of $29.09.

Spirit Airlines Profile

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

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