Spirit Airlines, Inc. (NYSE:SAVE) Shares Bought by Raymond James & Associates

Raymond James & Associates boosted its position in shares of Spirit Airlines, Inc. (NYSE:SAVE) by 4.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,076 shares of the company’s stock after buying an additional 1,219 shares during the period. Raymond James & Associates’ holdings in Spirit Airlines were worth $516,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Spirit Airlines by 272.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,119 shares of the company’s stock valued at $41,000 after buying an additional 1,550 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Spirit Airlines in the first quarter valued at approximately $43,000. PenderFund Capital Management Ltd. purchased a new stake in shares of Spirit Airlines in the first quarter valued at approximately $115,000. Impact Partnership Wealth LLC purchased a new stake in shares of Spirit Airlines in the second quarter valued at approximately $75,000. Finally, Money Concepts Capital Corp boosted its stake in shares of Spirit Airlines by 55,625.0% in the fourth quarter. Money Concepts Capital Corp now owns 4,458 shares of the company’s stock valued at $87,000 after buying an additional 4,450 shares in the last quarter. Institutional investors and hedge funds own 65.22% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on SAVE. StockNews.com began coverage on Spirit Airlines in a research note on Wednesday, August 23rd. They issued a “sell” rating on the stock. Citigroup decreased their target price on Spirit Airlines from $16.50 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 1st. TheStreet downgraded Spirit Airlines from a “c-” rating to a “d” rating in a research report on Monday, September 18th. Susquehanna decreased their target price on Spirit Airlines from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 11th. Finally, Evercore ISI decreased their target price on Spirit Airlines from $25.00 to $20.00 and set an “in-line” rating on the stock in a research report on Monday, September 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.40.

Spirit Airlines Stock Performance

NYSE SAVE opened at $10.19 on Thursday. Spirit Airlines, Inc. has a fifty-two week low of $10.12 and a fifty-two week high of $22.18. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -2.08 and a beta of 1.23. The business has a fifty day moving average of $15.50 and a 200-day moving average of $16.33. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 2.31.

Spirit Airlines (NYSE:SAVE) last released its quarterly earnings results on Thursday, October 26th. The company reported ($1.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.47) by $0.10. Spirit Airlines had a negative return on equity of 13.33% and a negative net margin of 9.84%. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the firm posted $0.03 earnings per share. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, analysts predict that Spirit Airlines, Inc. will post -3.29 earnings per share for the current fiscal year.

Spirit Airlines Dividend Announcement

The business also recently declared a dividend, which was paid on Tuesday, October 31st. Stockholders of record on Wednesday, October 25th were issued a $0.10 dividend. The ex-dividend date was Tuesday, October 24th.

Spirit Airlines Company Profile

Spirit Airlines, Inc provides airline services. The company provides front seats, including wider seats with extra legroom, carry-on and checked baggage, assigned seats, travel insurance, and onboard beverages and snacks, as well as hotels, cars, vacation packages, and cruises services. It serves 92 destinations in 16 countries in the United States, Latin America, and the Caribbean.