Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in Spirit Airlines, Inc. (NYSE:SAVE – Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 553,000 shares of the company’s stock, valued at approximately $9,495,000. Grantham Mayo Van Otterloo & Co. LLC owned approximately 0.51% of Spirit Airlines as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in Spirit Airlines by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 981,706 shares of the company’s stock worth $16,856,000 after purchasing an additional 15,532 shares in the last quarter. Letko Brosseau & Associates Inc. increased its holdings in Spirit Airlines by 18.3% during the 1st quarter. Letko Brosseau & Associates Inc. now owns 1,616,520 shares of the company’s stock worth $27,756,000 after purchasing an additional 249,710 shares in the last quarter. American Century Companies Inc. increased its holdings in Spirit Airlines by 26.2% during the 1st quarter. American Century Companies Inc. now owns 44,506 shares of the company’s stock worth $733,000 after purchasing an additional 9,226 shares in the last quarter. Athos Capital Ltd bought a new position in Spirit Airlines during the 1st quarter worth about $2,108,000. Finally, South Dakota Investment Council increased its holdings in Spirit Airlines by 24.4% during the 1st quarter. South Dakota Investment Council now owns 220,030 shares of the company’s stock worth $3,778,000 after purchasing an additional 43,100 shares in the last quarter. Institutional investors own 65.22% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have recently commented on the stock. StockNews.com assumed coverage on shares of Spirit Airlines in a research note on Wednesday, August 23rd. They set a “sell” rating for the company. Evercore ISI reduced their price objective on shares of Spirit Airlines from $28.00 to $25.00 and set an “in-line” rating for the company in a research note on Monday, August 28th. JPMorgan Chase & Co. reduced their price objective on shares of Spirit Airlines from $28.00 to $10.00 in a research note on Monday, May 8th. Finally, Susquehanna reduced their price objective on shares of Spirit Airlines from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $19.80.
Spirit Airlines Stock Performance
Shares of NYSE:SAVE opened at $16.50 on Friday. Spirit Airlines, Inc. has a 52-week low of $14.41 and a 52-week high of $23.46. The company has a market capitalization of $1.80 billion, a P/E ratio of -4.35 and a beta of 1.12. The company has a 50-day simple moving average of $17.29 and a 200 day simple moving average of $16.85. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.05 and a current ratio of 1.05.
Spirit Airlines (NYSE:SAVE – Get Free Report) last issued its earnings results on Thursday, August 3rd. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.10). The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.47 billion. Spirit Airlines had a negative net margin of 7.49% and a negative return on equity of 2.57%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.30) earnings per share. Sell-side analysts forecast that Spirit Airlines, Inc. will post -1.48 earnings per share for the current year.
Spirit Airlines Announces Dividend
The business also recently declared a dividend, which was paid on Thursday, August 31st. Shareholders of record on Friday, August 25th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, August 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.
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