Price T Rowe Associates Inc. MD Raises Stock Holdings in Spirit Airlines Incorporated (NASDAQ:SAVE)

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Price T Rowe Associates Inc. MD boosted its position in Spirit Airlines Incorporated (NASDAQ:SAVE) by 7.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,752 shares of the transportation company’s stock after buying an additional 1,857 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Spirit Airlines were worth $1,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of SAVE. Northwestern Mutual Wealth Management Co. boosted its stake in Spirit Airlines by 148.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,580 shares of the transportation company’s stock worth $84,000 after buying an additional 944 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Spirit Airlines by 17.1% in the first quarter. The Manufacturers Life Insurance Company now owns 386,252 shares of the transportation company’s stock valued at $20,417,000 after purchasing an additional 56,472 shares during the last quarter. Trexquant Investment LP lifted its position in Spirit Airlines by 106.3% in the first quarter. Trexquant Investment LP now owns 24,813 shares of the transportation company’s stock valued at $1,312,000 after purchasing an additional 12,784 shares during the last quarter. Westwood Holdings Group Inc. bought a new stake in Spirit Airlines in the first quarter valued at approximately $857,000. Finally, Meridian Wealth Management LLC bought a new stake in Spirit Airlines in the first quarter valued at approximately $26,000.

Shares of Spirit Airlines stock opened at $36.05 on Friday. The business has a 50 day moving average of $36.73 and a 200 day moving average of $46.00. Spirit Airlines Incorporated has a 52 week low of $32.97 and a 52 week high of $65.35.

Spirit Airlines (NASDAQ:SAVE) last announced its earnings results on Wednesday, July 24th. The transportation company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.05. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. Spirit Airlines’s revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.11 EPS.

Several brokerages have weighed in on SAVE. Bank of America downgraded Spirit Airlines to a “sell” rating and set a $39.00 price objective for the company. in a research report on Monday, September 23rd. Stephens downgraded Spirit Airlines from an “overweight” rating to an “equal” rating and lowered their price objective for the company from $55.00 to $45.00 in a research report on Monday, September 23rd. Deutsche Bank downgraded Spirit Airlines from a “buy” rating to a “hold” rating and lowered their price objective for the company from $79.00 to $55.00 in a research report on Thursday, July 25th. Credit Suisse Group downgraded Spirit Airlines from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $68.00 to $51.00 in a research report on Friday, July 26th. Finally, Citigroup set a $67.00 price objective on Spirit Airlines and gave the company a “buy” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Spirit Airlines has an average rating of “Hold” and a consensus target price of $53.53.

In other news, insider Edward M. Christie III acquired 2,375 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was acquired at an average price of $41.93 per share, for a total transaction of $99,583.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director H. Mcintyre Gardner acquired 2,500 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was purchased at an average price of $41.92 per share, with a total value of $104,800.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 5,051 shares of company stock valued at $211,885. 0.33% of the stock is owned by corporate insiders.

Spirit Airlines Company 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.

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

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