Centiva Capital LP Buys Shares of 70,023 Spirit Airlines, Inc. (NYSE:SAVE)

Centiva Capital LP bought a new stake in shares of Spirit Airlines, Inc. (NYSE:SAVE) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 70,023 shares of the company’s stock, valued at approximately $168,000.

Several other institutional investors have also made changes to their positions in SAVE. U S Global Investors Inc. acquired a new stake in shares of Spirit Airlines during the 3rd quarter valued at about $28,816,000. Federated Hermes Inc. increased its position in Spirit Airlines by 331.2% in the 2nd quarter. Federated Hermes Inc. now owns 432,494 shares of the company’s stock worth $1,583,000 after buying an additional 332,188 shares during the period. Roman Butler Fullerton & Co. increased its position in Spirit Airlines by 48.5% in the 3rd quarter. Roman Butler Fullerton & Co. now owns 264,429 shares of the company’s stock worth $635,000 after buying an additional 86,396 shares during the period. AQR Capital Management LLC bought a new stake in shares of Spirit Airlines during the second quarter valued at approximately $305,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Spirit Airlines by 8.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 931,241 shares of the company’s stock valued at $2,235,000 after purchasing an additional 74,753 shares during the period. 58.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on SAVE. Susquehanna lowered their price target on Spirit Airlines from $2.25 to $1.50 and set a “negative” rating on the stock in a research report on Wednesday, October 9th. Barclays cut their target price on Spirit Airlines from $3.00 to $0.50 and set an “underweight” rating on the stock in a research note on Thursday, November 14th. Finally, TD Cowen lowered their price target on Spirit Airlines from $2.00 to $1.00 and set a “sell” rating for the company in a report on Wednesday, November 13th. Seven analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $2.00.

Spirit Airlines Stock Down 5.6 %

Shares of Spirit Airlines stock opened at $1.02 on Friday. Spirit Airlines, Inc. has a one year low of $1.02 and a one year high of $17.02. The company has a debt-to-equity ratio of 3.86, a current ratio of 0.94 and a quick ratio of 0.94. The stock’s 50-day moving average is $1.74 and its 200 day moving average is $2.55. The firm has a market cap of $111.71 million, a price-to-earnings ratio of -0.17 and a beta of 1.37.

Spirit Airlines Company 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.