Nisa Investment Advisors LLC increased its holdings in Spirit Airlines, Inc. (NYSE:SAVE – Free Report) by 950.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,663 shares of the company’s stock after buying an additional 16,886 shares during the period. Nisa Investment Advisors LLC’s holdings in Spirit Airlines were worth $68,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its holdings in Spirit Airlines by 1.1% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 144,977 shares of the company’s stock valued at $2,376,000 after acquiring an additional 1,541 shares in the last quarter. International Assets Investment Management LLC raised its stake in Spirit Airlines by 467.7% in the fourth quarter. International Assets Investment Management LLC now owns 1,970 shares of the company’s stock valued at $32,000 after purchasing an additional 1,623 shares in the last quarter. First Horizon Advisors Inc. acquired a new position in Spirit Airlines in the fourth quarter valued at about $33,000. Victory Capital Management Inc. lifted its position in Spirit Airlines by 22.8% during the fourth quarter. Victory Capital Management Inc. now owns 14,579 shares of the company’s stock worth $239,000 after purchasing an additional 2,703 shares during the period. Finally, Natixis grew its stake in Spirit Airlines by 29.1% during the first quarter. Natixis now owns 12,480 shares of the company’s stock worth $60,000 after buying an additional 2,815 shares in the last quarter. 58.73% of the stock is currently owned by institutional investors.
Spirit Airlines Stock Up 2.9 %
Shares of NYSE:SAVE opened at $2.80 on Monday. The firm has a market cap of $306.60 million, a P/E ratio of -0.63 and a beta of 1.41. Spirit Airlines, Inc. has a 12-month low of $2.49 and a 12-month high of $17.94. The business has a fifty day simple moving average of $3.08 and a 200 day simple moving average of $4.07. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 3.86.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the stock. Barclays cut their price target on shares of Spirit Airlines from $4.00 to $3.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft cut Spirit Airlines from a “hold” rating to a “sell” rating and cut their target price for the stock from $3.00 to $2.00 in a research note on Monday, July 8th. Bank of America decreased their price target on Spirit Airlines from $3.25 to $2.75 and set an “underperform” rating on the stock in a research note on Wednesday, July 17th. Raymond James downgraded Spirit Airlines from a “market perform” rating to an “underperform” rating in a research report on Friday, July 5th. Finally, Susquehanna decreased their target price on Spirit Airlines from $2.50 to $2.25 and set a “negative” rating on the stock in a research report on Friday, August 16th. Seven equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $2.61.
Get Our Latest Analysis on Spirit Airlines
Spirit Airlines Profile
Spirit Airlines, Inc provides airline services. The company also offers hotels and rental cars services. It serves 93 destinations in 15 countries in the United States, Latin America, and the Caribbean. As of December 31, 2023, the company operated a fleet of 205 Airbus single-aisle aircraft. The company was formerly known as Clippert Trucking Company and changed its name to Spirit Airlines, Inc in 1992.
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