Spirit Airlines Incorporated (SAVE) SVP Rocky Wiggins Sells 566 Shares

Spirit Airlines Incorporated (NASDAQ:SAVE) SVP Rocky Wiggins sold 566 shares of the company’s stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $47.89, for a total value of $27,105.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Shares of SAVE traded up $0.32 during mid-day trading on Wednesday, reaching $48.79. The company’s stock had a trading volume of 1,265,400 shares, compared to its average volume of 1,315,213. Spirit Airlines Incorporated has a 12-month low of $32.33 and a 12-month high of $49.17. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Spirit Airlines (NASDAQ:SAVE) last released its quarterly earnings data on Wednesday, July 25th. The transportation company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.02. Spirit Airlines had a return on equity of 15.86% and a net margin of 8.55%. The business had revenue of $851.80 million for the quarter, compared to the consensus estimate of $851.83 million. During the same quarter in the prior year, the business posted $1.14 EPS. The business’s revenue for the quarter was up 21.4% on a year-over-year basis. analysts expect that Spirit Airlines Incorporated will post 3.08 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Schroder Investment Management Group increased its holdings in shares of Spirit Airlines by 19.8% in the 1st quarter. Schroder Investment Management Group now owns 1,828,093 shares of the transportation company’s stock valued at $69,065,000 after acquiring an additional 301,959 shares during the last quarter. Federated Investors Inc. PA purchased a new position in shares of Spirit Airlines in the 1st quarter valued at about $1,133,000. Royal Bank of Canada increased its holdings in shares of Spirit Airlines by 11.6% in the 1st quarter. Royal Bank of Canada now owns 309,412 shares of the transportation company’s stock valued at $11,690,000 after acquiring an additional 32,110 shares during the last quarter. Royce & Associates LP increased its holdings in shares of Spirit Airlines by 26.6% in the 2nd quarter. Royce & Associates LP now owns 647,232 shares of the transportation company’s stock valued at $23,527,000 after acquiring an additional 135,800 shares during the last quarter. Finally, Scout Investments Inc. increased its holdings in shares of Spirit Airlines by 178.9% in the 2nd quarter. Scout Investments Inc. now owns 964,299 shares of the transportation company’s stock valued at $35,052,000 after acquiring an additional 618,542 shares during the last quarter.

Several brokerages have weighed in on SAVE. Zacks Investment Research downgraded Spirit Airlines from a “buy” rating to a “hold” rating in a report on Wednesday. Buckingham Research set a $61.00 price target on Spirit Airlines and gave the stock a “buy” rating in a report on Thursday, August 30th. BidaskClub upgraded Spirit Airlines from a “buy” rating to a “strong-buy” rating in a report on Friday, August 31st. Macquarie upped their price target on Spirit Airlines from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, August 28th. Finally, Imperial Capital upped their price target on Spirit Airlines from $53.00 to $61.00 and gave the stock an “outperform” rating in a report on Friday, July 27th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $53.15.

About Spirit Airlines

Spirit Airlines, Inc is an airline company. The Company provides air transportation for passengers. As of December 31, 2016, its all-Airbus Fit Fleet operated over 420 daily flights to 59 destinations in the United States, Caribbean and Latin America. As of December 31, 2016, it had a fleet of 95 Airbus single-aisle aircraft, which are referred to as A320 family aircraft and include the A319, A320 and A321 models, which have common design and equipment but differ most notably in fuselage length, service range and seat capacity.

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