Nationwide Fund Advisors Increases Position in Spirit Airlines, Inc. (SAVE)

Nationwide Fund Advisors increased its position in Spirit Airlines, Inc. (NASDAQ:SAVE) by 7.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 150,202 shares of the transportation company’s stock after purchasing an additional 10,500 shares during the quarter. Nationwide Fund Advisors owned approximately 0.22% of Spirit Airlines worth $5,018,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Shell Asset Management Co. acquired a new position in shares of Spirit Airlines during the 3rd quarter worth about $2,674,000. Sentry Investment Management LLC grew its position in shares of Spirit Airlines by 1.7% during the 2nd quarter. Sentry Investment Management LLC now owns 54,044 shares of the transportation company’s stock worth $2,791,000 after buying an additional 888 shares during the period. U S Global Investors Inc. grew its position in shares of Spirit Airlines by 77.4% during the 2nd quarter. U S Global Investors Inc. now owns 92,046 shares of the transportation company’s stock worth $3,574,000 after buying an additional 40,169 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Spirit Airlines during the 2nd quarter worth about $1,000,000. Finally, Verition Fund Management LLC acquired a new position in shares of Spirit Airlines during the 2nd quarter worth about $1,407,000.

Several research firms have recently issued reports on SAVE. ValuEngine upgraded Spirit Airlines from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Stephens started coverage on Spirit Airlines in a research report on Wednesday, November 29th. They issued an “overweight” rating and a $50.00 price objective for the company. Zacks Investment Research upgraded Spirit Airlines from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. J P Morgan Chase & Co lowered Spirit Airlines from a “neutral” rating to an “underweight” rating and set a $39.00 price objective for the company. in a research report on Wednesday, November 1st. Finally, Buckingham Research boosted their price objective on Spirit Airlines from $31.00 to $37.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $41.75.

Spirit Airlines, Inc. (NASDAQ SAVE) opened at $42.84 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Spirit Airlines, Inc. has a 12-month low of $30.32 and a 12-month high of $60.28. The stock has a market capitalization of $3,005.94, a P/E ratio of 12.90, a P/E/G ratio of 1.76 and a beta of 0.75.

Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings data on Thursday, October 26th. The transportation company reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.04. The business had revenue of $687.20 million during the quarter, compared to analyst estimates of $686.13 million. Spirit Airlines had a return on equity of 15.86% and a net margin of 8.55%. Spirit Airlines’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.24 EPS. research analysts anticipate that Spirit Airlines, Inc. will post 3.08 earnings per share for the current fiscal year.

Spirit Airlines announced that its board has approved a stock buyback plan on Thursday, October 26th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the transportation company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

In other Spirit Airlines news, VP John A. Bendoraitis sold 2,340 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $42.92, for a total value of $100,432.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.33% of the company’s stock.

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Spirit Airlines Profile

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.

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

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