Utah Retirement Systems Sells 300 Shares of Spirit Airlines, Inc. (SAVE)

Utah Retirement Systems reduced its position in Spirit Airlines, Inc. (NASDAQ:SAVE) by 2.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,700 shares of the transportation company’s stock after selling 300 shares during the quarter. Utah Retirement Systems’ holdings in Spirit Airlines were worth $656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in SAVE. Canada Pension Plan Investment Board increased its position in Spirit Airlines by 58.4% in the first quarter. Canada Pension Plan Investment Board now owns 44,200 shares of the transportation company’s stock worth $2,346,000 after buying an additional 16,300 shares during the last quarter. Empire Life Investments Inc. increased its position in Spirit Airlines by 7.4% in the first quarter. Empire Life Investments Inc. now owns 82,740 shares of the transportation company’s stock worth $3,654,000 after buying an additional 5,689 shares during the last quarter. Bank of New York Mellon Corp increased its position in Spirit Airlines by 3.3% in the first quarter. Bank of New York Mellon Corp now owns 323,709 shares of the transportation company’s stock worth $17,179,000 after buying an additional 10,452 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in Spirit Airlines by 286.9% in the first quarter. BNP Paribas Arbitrage SA now owns 13,271 shares of the transportation company’s stock worth $704,000 after buying an additional 9,841 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new stake in Spirit Airlines in the first quarter worth $368,000. 97.00% of the stock is owned by institutional investors and hedge funds.

Spirit Airlines, Inc. (NASDAQ:SAVE) opened at 34.89 on Wednesday. The stock has a market capitalization of $2.42 billion, a PE ratio of 10.11 and a beta of 0.62. The stock has a 50 day moving average price of $37.68 and a 200 day moving average price of $49.53. Spirit Airlines, Inc. has a 12 month low of $30.32 and a 12 month high of $60.40.

Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.03. Spirit Airlines had a return on equity of 17.96% and a net margin of 9.62%. The business had revenue of $701.68 million during the quarter, compared to analyst estimates of $702.29 million. During the same quarter in the prior year, the business posted $1.11 EPS. Spirit Airlines’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, equities research analysts forecast that Spirit Airlines, Inc. will post $3.19 earnings per share for the current fiscal year.

A number of analysts have issued reports on the company. Bank of America Corporation downgraded Spirit Airlines from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $68.00 to $44.00 in a research report on Friday, July 28th. Cowen and Company reissued a “market perform” rating and issued a $59.00 target price on shares of Spirit Airlines in a research report on Tuesday, July 18th. Morgan Stanley reissued an “equal weight” rating and issued a $60.00 target price (down from $61.00) on shares of Spirit Airlines in a research report on Thursday, July 13th. Stifel Nicolaus reissued a “buy” rating and issued a $55.00 target price (down from $75.00) on shares of Spirit Airlines in a research report on Sunday, July 30th. Finally, Zacks Investment Research downgraded Spirit Airlines from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $51.63.

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Spirit Airlines Company 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.

Institutional Ownership by Quarter for Spirit Airlines (NASDAQ:SAVE)

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