Zurcher Kantonalbank Zurich Cantonalbank raised its position in Spirit Airlines Incorporated (NASDAQ:SAVE) by 20.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,661 shares of the transportation company’s stock after buying an additional 278 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Spirit Airlines were worth $79,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC acquired a new position in Spirit Airlines in the first quarter valued at approximately $25,000. Meridian Wealth Management LLC acquired a new position in Spirit Airlines in the first quarter valued at approximately $26,000. Steward Partners Investment Advisory LLC acquired a new position in Spirit Airlines in the second quarter valued at approximately $28,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Spirit Airlines by 148.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,580 shares of the transportation company’s stock valued at $84,000 after buying an additional 944 shares during the period. Finally, NumerixS Investment Technologies Inc acquired a new position in Spirit Airlines in the first quarter valued at approximately $258,000.
NASDAQ:SAVE traded up $0.59 during trading hours on Thursday, hitting $39.11. The stock had a trading volume of 13,199 shares, compared to its average volume of 1,142,090. Spirit Airlines Incorporated has a one year low of $37.11 and a one year high of $65.35. The business’s 50 day moving average is $45.36 and its 200-day moving average is $51.26.
In related news, insider Edward M. Christie III acquired 2,375 shares of the stock in a transaction dated Tuesday, July 30th. The stock was bought at an average price of $41.93 per share, with a total value of $99,583.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert D. Johnson sold 750 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $45.97, for a total transaction of $34,477.50. The disclosure for this sale can be found here. Insiders have bought 5,051 shares of company stock valued at $211,885 in the last three months. 0.33% of the stock is owned by insiders.
Several equities analysts recently weighed in on the stock. Vertical Research assumed coverage on shares of Spirit Airlines in a report on Thursday. They issued a “hold” rating on the stock. Citigroup set a $67.00 target price on shares of Spirit Airlines and gave the company a “buy” rating in a research note on Friday, July 26th. Deutsche Bank downgraded shares of Spirit Airlines from a “buy” rating to a “hold” rating and lowered their target price for the company from $79.00 to $55.00 in a research note on Thursday, July 25th. Imperial Capital lowered their target price on shares of Spirit Airlines from $78.00 to $64.00 and set an “outperform” rating for the company in a research note on Tuesday, July 30th. Finally, BidaskClub downgraded shares of Spirit Airlines from a “buy” rating to a “hold” rating in a research note on Saturday, August 17th. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $61.00.
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.
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