Suntrust Banks Inc. Has $380,000 Holdings in Spirit Airlines, Inc. (SAVE)

Suntrust Banks Inc. reduced its stake in shares of Spirit Airlines, Inc. (NASDAQ:SAVE) by 32.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,371 shares of the transportation company’s stock after selling 3,561 shares during the quarter. Suntrust Banks Inc.’s holdings in Spirit Airlines were worth $380,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of SAVE. BlackRock Inc. increased its stake in Spirit Airlines by 7,002.6% during the first quarter. BlackRock Inc. now owns 2,691,469 shares of the transportation company’s stock worth $142,838,000 after acquiring an additional 2,653,575 shares during the last quarter. Hodges Capital Management Inc. bought a new stake in Spirit Airlines during the second quarter worth approximately $16,711,000. State of New Jersey Common Pension Fund D increased its stake in Spirit Airlines by 127.3% during the second quarter. State of New Jersey Common Pension Fund D now owns 500,000 shares of the transportation company’s stock worth $25,826,000 after acquiring an additional 280,000 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Spirit Airlines by 16.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,621,926 shares of the transportation company’s stock worth $86,073,000 after acquiring an additional 234,734 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Spirit Airlines by 4.4% during the first quarter. Vanguard Group Inc. now owns 5,364,771 shares of the transportation company’s stock worth $284,708,000 after acquiring an additional 228,176 shares during the last quarter. 96.99% of the stock is currently owned by institutional investors.

In related news, Director H. Mcintyre Gardner bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was purchased at an average price of $33.78 per share, for a total transaction of $168,900.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.33% of the stock is currently owned by company insiders.

Several equities research analysts have weighed in on SAVE shares. Stifel Nicolaus reissued a “buy” rating and set a $55.00 price objective (down from $75.00) on shares of Spirit Airlines in a research note on Sunday, July 30th. Deutsche Bank AG reissued a “buy” rating and set a $54.00 price objective (down from $69.00) on shares of Spirit Airlines in a research note on Sunday, July 30th. Bank of America Corporation reduced their price objective on Spirit Airlines from $75.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, June 30th. Citigroup Inc. raised Spirit Airlines from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $65.00 to $52.00 in a research note on Friday, July 28th. Finally, TheStreet lowered Spirit Airlines from a “b-” rating to a “c+” rating in a research report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $47.77.

TRADEMARK VIOLATION WARNING: “Suntrust Banks Inc. Has $380,000 Holdings in Spirit Airlines, Inc. (SAVE)” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of US and international copyright and trademark law. The legal version of this article can be read at https://ledgergazette.com/2017/10/13/suntrust-banks-inc-has-380000-holdings-in-spirit-airlines-inc-save.html.

Shares of Spirit Airlines, Inc. (NASDAQ SAVE) opened at 33.84 on Friday. The company has a 50 day moving average price of $34.15 and a 200-day moving average price of $46.72. Spirit Airlines, Inc. has a one year low of $30.32 and a one year high of $60.40. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 9.81 and a beta of 0.66.

Spirit Airlines (NASDAQ:SAVE) last posted its earnings results on Thursday, July 27th. The transportation company reported $1.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.03. Spirit Airlines had a net margin of 9.62% and a return on equity of 17.96%. The firm had revenue of $701.68 million during the quarter, compared to the consensus estimate of $702.29 million. During the same quarter last year, the firm earned $1.11 EPS. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. Equities analysts predict that Spirit Airlines,

A number of other hedge funds and other institutional investors also recently modified their holdings of SAVE. BlackRock Inc. increased its stake in Spirit Airlines by 7,002.6% during the first quarter. BlackRock Inc. now owns 2,691,469 shares of the transportation company’s stock worth $142,838,000 after acquiring an additional 2,653,575 shares during the last quarter. Hodges Capital Management Inc. bought a new stake in Spirit Airlines during the second quarter worth approximately $16,711,000. State of New Jersey Common Pension Fund D increased its stake in Spirit Airlines by 127.3% during the second quarter. State of New Jersey Common Pension Fund D now owns 500,000 shares of the transportation company’s stock worth $25,826,000 after acquiring an additional 280,000 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Spirit Airlines by 16.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,621,926 shares of the transportation company’s stock worth $86,073,000 after acquiring an additional 234,734 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Spirit Airlines by 4.4% during the first quarter. Vanguard Group Inc. now owns 5,364,771 shares of the transportation company’s stock worth $284,708,000 after acquiring an additional 228,176 shares during the last quarter. 96.99% of the stock is currently owned by institutional investors.

In related news, Director H. Mcintyre Gardner bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was purchased at an average price of $33.78 per share, for a total transaction of $168,900.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.33% of the stock is currently owned by company insiders.

Several equities research analysts have weighed in on SAVE shares. Stifel Nicolaus reissued a “buy” rating and set a $55.00 price objective (down from $75.00) on shares of Spirit Airlines in a research note on Sunday, July 30th. Deutsche Bank AG reissued a “buy” rating and set a $54.00 price objective (down from $69.00) on shares of Spirit Airlines in a research note on Sunday, July 30th. Bank of America Corporation reduced their price objective on Spirit Airlines from $75.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, June 30th. Citigroup Inc. raised Spirit Airlines from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $65.00 to $52.00 in a research note on Friday, July 28th. Finally, TheStreet lowered Spirit Airlines from a “b-” rating to a “c+” rating in a research report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $47.77.

TRADEMARK VIOLATION WARNING: “Suntrust Banks Inc. Has $380,000 Holdings in Spirit Airlines, Inc. (SAVE)” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of US and international copyright and trademark law. The legal version of this article can be read at https://ledgergazette.com/2017/10/13/suntrust-banks-inc-has-380000-holdings-in-spirit-airlines-inc-save.html.

Shares of Spirit Airlines, Inc. (NASDAQ SAVE) opened at 33.84 on Friday. The company has a 50 day moving average price of $34.15 and a 200-day moving average price of $46.72. Spirit Airlines, Inc. has a one year low of $30.32 and a one year high of $60.40. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 9.81 and a beta of 0.66.

Spirit Airlines (NASDAQ:SAVE) last posted its earnings results on Thursday, July 27th. The transportation company reported $1.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.03. Spirit Airlines had a net margin of 9.62% and a return on equity of 17.96%. The firm had revenue of $701.68 million during the quarter, compared to the consensus estimate of $702.29 million. During the same quarter last year, the firm earned $1.11 EPS. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. Equities analysts predict that Spirit Airlines, Inc. will post $2.92 earnings per share for the current fiscal year.

Spirit Airlines 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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