Principal Financial Group Inc. Grows Stake in Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY)

Principal Financial Group Inc. increased its stake in Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) by 2.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 196,144 shares of the company’s stock after acquiring an additional 5,590 shares during the period. Principal Financial Group Inc. owned approximately 0.37% of Sun Country Airlines worth $2,416,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SNCY. Ameriprise Financial Inc. raised its stake in Sun Country Airlines by 34.0% in the fourth quarter. Ameriprise Financial Inc. now owns 3,118,136 shares of the company’s stock worth $45,467,000 after buying an additional 791,669 shares in the last quarter. Driehaus Capital Management LLC bought a new position in Sun Country Airlines in the fourth quarter worth approximately $8,868,000. Arrowstreet Capital Limited Partnership purchased a new position in Sun Country Airlines in the fourth quarter worth $6,898,000. Zimmer Partners LP purchased a new position in Sun Country Airlines in the fourth quarter worth $6,261,000. Finally, Hudson Bay Capital Management LP purchased a new position in Sun Country Airlines in the fourth quarter worth $5,475,000.

Sun Country Airlines Stock Down 1.3%

Shares of NASDAQ:SNCY opened at $12.48 on Friday. The company has a market cap of $664.06 million, a price-to-earnings ratio of 12.87, a PEG ratio of 0.27 and a beta of 1.61. The firm’s 50-day simple moving average is $11.88 and its 200-day simple moving average is $13.13. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 0.77. Sun Country Airlines Holdings, Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $18.59.

Sun Country Airlines (NASDAQ:SNCY) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. The business had revenue of $326.65 million for the quarter, compared to analyst estimates of $329.51 million. Sun Country Airlines had a net margin of 4.96% and a return on equity of 10.28%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 earnings per share. As a group, equities research analysts predict that Sun Country Airlines Holdings, Inc. will post 1.92 earnings per share for the current year.

Insider Activity

In related news, VP John Gyurci sold 3,150 shares of the firm’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $11.49, for a total transaction of $36,193.50. Following the completion of the sale, the vice president directly owned 26,122 shares of the company’s stock, valued at approximately $300,141.78. This trade represents a 10.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 9,372 shares of company stock valued at $110,365 over the last ninety days. 5.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SNCY has been the topic of a number of research analyst reports. TD Cowen boosted their price objective on shares of Sun Country Airlines from $14.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, May 6th. Susquehanna boosted their price objective on shares of Sun Country Airlines from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Monday, May 5th. JPMorgan Chase & Co. dropped their price objective on shares of Sun Country Airlines from $23.00 to $20.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Finally, Barclays dropped their price objective on shares of Sun Country Airlines from $24.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Sun Country Airlines has a consensus rating of “Moderate Buy” and a consensus price target of $16.83.

About Sun Country Airlines

Sun Country Airlines Holdings, Inc, an air carrier company, operates scheduled passenger, air cargo, charter air transportation, and related services in the United States, Latin America, and internationally. It operates through two segments, Passenger and Cargo. The company also provides crew, maintenance, and insurance services through ad hoc, repeat, short-term, and long-term service contracts; and loyalty program rewards.