Sun Country Airlines (NASDAQ:SNCY) Shares Gap Up – Here’s What Happened

Shares of Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) gapped up prior to trading on Friday . The stock had previously closed at $9.96, but opened at $10.34. Sun Country Airlines shares last traded at $10.47, with a volume of 65,301 shares.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. TD Cowen boosted their target price on shares of Sun Country Airlines from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. 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. Finally, Morgan Stanley restated an “overweight” rating and issued a $21.00 target price on shares of Sun Country Airlines in a research report on Thursday, June 20th.

Sun Country Airlines Stock Performance

The company’s 50 day simple moving average is $10.80 and its 200 day simple moving average is $11.91. The stock has a market cap of $538.21 million, a price-to-earnings ratio of 8.73, a PEG ratio of 0.60 and a beta of 1.54. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.56 and a current ratio of 0.58.

Sun Country Airlines (NASDAQ:SNCY) last announced its earnings results on Thursday, August 1st. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. The firm had revenue of $254.40 million for the quarter, compared to analysts’ expectations of $255.59 million. Sun Country Airlines had a return on equity of 10.34% and a net margin of 4.75%. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 earnings per share. On average, equities research analysts anticipate that Sun Country Airlines Holdings, Inc. will post 0.84 earnings per share for the current year.

Insider Activity at Sun Country Airlines

In other Sun Country Airlines news, VP John Gyurci sold 3,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $11.30, for a total value of $33,900.00. Following the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Grant Whitney sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $12.06, for a total transaction of $60,300.00. Following the completion of the sale, the senior vice president now directly owns 25,068 shares of the company’s stock, valued at $302,320.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP John Gyurci sold 3,000 shares of Sun Country Airlines stock in a transaction on Friday, September 6th. The stock was sold at an average price of $11.30, for a total value of $33,900.00. Following the completion of the transaction, the vice president now owns 14,407 shares in the company, valued at $162,799.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,788 shares of company stock valued at $146,152 over the last 90 days. 3.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sun Country Airlines

A number of hedge funds and other institutional investors have recently modified their holdings of SNCY. CWM LLC lifted its stake in Sun Country Airlines by 1,660.9% during the second quarter. CWM LLC now owns 2,659 shares of the company’s stock valued at $33,000 after buying an additional 2,508 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Sun Country Airlines in the second quarter worth approximately $40,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Sun Country Airlines during the first quarter valued at approximately $66,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Sun Country Airlines in the 2nd quarter valued at approximately $80,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Sun Country Airlines in the 2nd quarter valued at approximately $124,000.

About Sun Country Airlines

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.