Spirit Airlines, Inc. (NYSE:SAVE) Shares Bought by Cyrus Capital Partners L.P.

Cyrus Capital Partners L.P. raised its position in Spirit Airlines, Inc. (NYSE:SAVEFree Report) by 47.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,125,870 shares of the company’s stock after acquiring an additional 1,010,000 shares during the period. Spirit Airlines makes up 10.5% of Cyrus Capital Partners L.P.’s investment portfolio, making the stock its 3rd largest holding. Cyrus Capital Partners L.P.’s holdings in Spirit Airlines were worth $53,640,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SAVE. Cetera Advisor Networks LLC acquired a new stake in shares of Spirit Airlines in the 1st quarter worth $296,000. MetLife Investment Management LLC lifted its stake in shares of Spirit Airlines by 54.4% in the 1st quarter. MetLife Investment Management LLC now owns 53,926 shares of the company’s stock worth $1,179,000 after acquiring an additional 18,997 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Spirit Airlines by 37.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,637,683 shares of the company’s stock worth $79,557,000 after acquiring an additional 997,254 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of Spirit Airlines by 13.6% in the 1st quarter. Allianz Asset Management GmbH now owns 12,175 shares of the company’s stock worth $266,000 after acquiring an additional 1,458 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Spirit Airlines by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 9,935,537 shares of the company’s stock worth $217,291,000 after acquiring an additional 148,348 shares during the period. Institutional investors and hedge funds own 65.22% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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Spirit Airlines Trading Up 0.1 %

Spirit Airlines stock traded up $0.02 during trading on Friday, reaching $14.55. The company had a trading volume of 5,014,642 shares, compared to its average volume of 6,828,028. Spirit Airlines, Inc. has a 12-month low of $8.68 and a 12-month high of $20.99. The stock’s 50 day moving average price is $13.97 and its two-hundred day moving average price is $15.92. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -2.97 and a beta of 1.32. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.91 and a current ratio of 0.91.

Spirit Airlines (NYSE:SAVEGet Free Report) last released its earnings results on Thursday, October 26th. The company reported ($1.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.47) by $0.10. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.26 billion. Spirit Airlines had a negative net margin of 9.84% and a negative return on equity of 13.33%. Spirit Airlines’s revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.03 earnings per share. As a group, equities analysts expect that Spirit Airlines, Inc. will post -3.42 earnings per share for the current fiscal year.

Spirit Airlines Dividend Announcement

The firm also recently declared a dividend, which was paid on Thursday, November 30th. Shareholders of record on Friday, November 24th were given a dividend of $0.10 per share. The ex-dividend date was Wednesday, November 22nd.

Spirit Airlines Profile

(Free Report)

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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Institutional Ownership by Quarter for Spirit Airlines (NYSE:SAVE)

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Article source: https://airlines.einnews.com/article/674198360/fueu5eeCz8_5j5E7?ref=rss&ecode=vaZAu9rk30b8KC5H

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