Assenagon Asset Management S.A. Reduces Position in Sun Country Airlines Holdings, Inc. $SNCY

Assenagon Asset Management S.A. trimmed its position in Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) by 56.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,311 shares of the company’s stock after selling 85,778 shares during the period. Assenagon Asset Management S.A. owned 0.13% of Sun Country Airlines worth $954,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. CIBC Bancorp USA Inc. acquired a new position in Sun Country Airlines in the 3rd quarter worth approximately $259,000. Hancock Whitney Corp lifted its position in Sun Country Airlines by 58.9% during the third quarter. Hancock Whitney Corp now owns 41,844 shares of the company’s stock valued at $494,000 after purchasing an additional 15,507 shares during the period. Lighthouse Investment Partners LLC acquired a new position in Sun Country Airlines during the third quarter valued at $812,000. Gotham Asset Management LLC boosted its holdings in Sun Country Airlines by 53.6% in the third quarter. Gotham Asset Management LLC now owns 200,311 shares of the company’s stock valued at $2,366,000 after purchasing an additional 69,862 shares during the last quarter. Finally, CSM Advisors LLC grew its position in Sun Country Airlines by 29.7% during the 3rd quarter. CSM Advisors LLC now owns 507,038 shares of the company’s stock worth $5,987,000 after purchasing an additional 116,121 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SNCY. Citigroup lifted their price objective on Sun Country Airlines from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, March 20th. TD Cowen reaffirmed a “hold” rating on shares of Sun Country Airlines in a report on Tuesday, February 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Sun Country Airlines in a research report on Monday, December 29th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $19.00 target price (down from $22.00) on shares of Sun Country Airlines in a research note on Tuesday, January 13th. Finally, Susquehanna raised shares of Sun Country Airlines from a “neutral” rating to a “positive” rating and increased their price target for the stock from $12.00 to $20.00 in a report on Friday, January 9th. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.00.

Sun Country Airlines Stock Up 4.1%

Shares of SNCY opened at $16.52 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.79 and a current ratio of 0.82. Sun Country Airlines Holdings, Inc. has a one year low of $8.10 and a one year high of $22.29. The stock has a market capitalization of $879.19 million, a price-to-earnings ratio of 17.21, a PEG ratio of 0.36 and a beta of 1.55. The stock has a 50 day moving average price of $18.29 and a 200 day moving average price of $15.06.

Sun Country Airlines (NASDAQ:SNCY) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. The company had revenue of $280.96 million for the quarter, compared to analyst estimates of $272.98 million. Sun Country Airlines had a return on equity of 8.92% and a net margin of 4.69%.The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 EPS. Equities research analysts forecast that Sun Country Airlines Holdings, Inc. will post 1.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Stephen Andrew Coley sold 2,052 shares of the company’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $15.09, for a total value of $30,964.68. Following the completion of the sale, the senior vice president owned 45,040 shares of the company’s stock, valued at approximately $679,653.60. This represents a 4.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Erin Rose Neale sold 2,257 shares of the firm’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $17.53, for a total transaction of $39,565.21. Following the sale, the senior vice president owned 38,931 shares of the company’s stock, valued at approximately $682,460.43. The trade was a 5.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 20,755 shares of company stock valued at $334,558 in the last ninety days. 4.60% of the stock is currently owned by corporate insiders.

Sun Country Airlines Company Profile

Sun Country Airlines (NASDAQ: SNCY) is an American ultra-low-cost carrier providing a blend of scheduled and charter passenger services. The carrier focuses on leisure markets, offering nonstop flights to sun and ski destinations across the United States, Mexico and the Caribbean. In addition to its scheduled network, Sun Country operates charter services for sports teams, corporate groups and tour operators, as well as seasonal cargo charters that support e-commerce peak periods.

Founded in 1982 and headquartered in Minneapolis, Minnesota, Sun Country has navigated multiple ownership and restructuring phases.