Sun Country Airlines (NASDAQ:SNCY) Stock Price Up 9.8% Following Earnings Beat

Shares of Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) shot up 9.8% during trading on Thursday following a better than expected earnings announcement. The company traded as high as $14.10 and last traded at $14.03. 522,821 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 636,419 shares. The stock had previously closed at $12.78.

The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.03. Sun Country Airlines had a return on equity of 10.34% and a net margin of 4.75%. The firm had revenue of $249.50 million for the quarter, compared to analysts’ expectations of $250.30 million. During the same period last year, the business posted $0.14 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Wolfe Research raised shares of Sun Country Airlines from a “peer perform” rating to an “outperform” rating and set a $14.00 target price on the stock in a report on Tuesday, October 8th. Susquehanna reduced their price objective on Sun Country Airlines from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.20.

Insider Buying and Selling at Sun Country Airlines

In other news, VP John Gyurci sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $11.30, for a total transaction of $33,900.00. Following the completion of the transaction, the vice president now directly owns 14,407 shares in the company, valued at approximately $162,799.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 7,788 shares of company stock worth $85,852. 4.60% of the stock is owned by company insiders.

Institutional Trading of Sun Country Airlines

Hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its holdings in shares of Sun Country Airlines by 76.9% during the third quarter. Farther Finance Advisors LLC now owns 2,300 shares of the company’s stock valued at $26,000 after purchasing an additional 1,000 shares during the period. CWM LLC raised its position in shares of Sun Country Airlines by 1,660.9% during the 2nd quarter. CWM LLC now owns 2,659 shares of the company’s stock worth $33,000 after buying an additional 2,508 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Sun Country Airlines in the 2nd quarter worth approximately $40,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Sun Country Airlines in the 1st quarter worth approximately $66,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Sun Country Airlines in the second quarter valued at approximately $80,000.

Sun Country Airlines Stock Up 9.9 %

The firm has a market cap of $741.94 million, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 0.66 and a beta of 1.54. The company has a quick ratio of 0.56, a current ratio of 0.58 and a debt-to-equity ratio of 1.01. The stock’s 50 day moving average is $11.25 and its 200 day moving average is $11.53.

Sun Country Airlines Company Profile

Sun Country Airlines Holdings, Inc, an air carrier company, operates scheduled passenger, air cargo, charter air transportation, and related services in the United States, Latin America, and internationally. It operates through two segments, Passenger and Cargo. The company also provides crew, maintenance, and insurance services through ad hoc, repeat, short-term, and long-term service contracts; and loyalty program rewards.