Roman Butler Fullerton & Co. Makes New $2.29 Million Investment in Spirit Airlines, Inc. (NYSE:SAVE)

Roman Butler Fullerton & Co. bought a new position in shares of Spirit Airlines, Inc. (NYSE:SAVE) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 139,876 shares of the company’s stock, valued at approximately $2,293,000. Spirit Airlines accounts for about 0.9% of Roman Butler Fullerton & Co.’s holdings, making the stock its 27th largest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Captrust Financial Advisors raised its holdings in shares of Spirit Airlines by 3.3% during the 1st quarter. Captrust Financial Advisors now owns 16,802 shares of the company’s stock worth $367,000 after acquiring an additional 536 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Spirit Airlines by 1.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 55,706 shares of the company’s stock worth $1,085,000 after acquiring an additional 738 shares during the period. Legal & General Group Plc raised its holdings in shares of Spirit Airlines by 2.9% during the 4th quarter. Legal & General Group Plc now owns 32,307 shares of the company’s stock worth $629,000 after acquiring an additional 902 shares during the period. Swiss National Bank raised its holdings in shares of Spirit Airlines by 2.0% during the 3rd quarter. Swiss National Bank now owns 60,000 shares of the company’s stock worth $990,000 after acquiring an additional 1,200 shares during the period. Finally, Venture Visionary Partners LLC raised its holdings in shares of Spirit Airlines by 11.3% during the 4th quarter. Venture Visionary Partners LLC now owns 14,218 shares of the company’s stock worth $233,000 after acquiring an additional 1,449 shares during the period. Institutional investors and hedge funds own 58.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Evercore ISI reduced their price target on Spirit Airlines from $18.00 to $3.50 and set an “in-line” rating on the stock in a report on Thursday, April 4th. Barclays initiated coverage on shares of Spirit Airlines in a report on Wednesday, March 27th. They issued an “underweight” rating and a $4.00 price objective on the stock. Susquehanna reduced their price objective on shares of Spirit Airlines from $5.00 to $4.00 and set a “negative” rating on the stock in a report on Tuesday, April 9th. Bank of America initiated coverage on shares of Spirit Airlines in a report on Wednesday, January 17th. They issued an “underperform” rating and a $5.00 price objective on the stock. Finally, TD Cowen reduced their price objective on shares of Spirit Airlines from $5.00 to $4.00 and set a “hold” rating on the stock in a report on Tuesday. Five investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $4.91.

Spirit Airlines Stock Performance

NYSE:SAVE traded down $0.01 on Thursday, reaching $4.10. 1,388,948 shares of the company’s stock were exchanged, compared to its average volume of 14,963,567. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.69. The business has a fifty day moving average of $5.28 and a 200-day moving average of $10.41. Spirit Airlines, Inc. has a 52-week low of $3.96 and a 52-week high of $19.69.

Spirit Airlines (NYSE:SAVE) last issued its quarterly earnings results on Thursday, February 8th. The company reported ($1.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.06. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. Spirit Airlines had a negative net margin of 8.34% and a negative return on equity of 26.38%. The business’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 earnings per share. Equities analysts predict that Spirit Airlines, Inc. will post -2.75 earnings per share for the current fiscal year.

Spirit Airlines Dividend Announcement

The business also recently disclosed a dividend, which was paid on Thursday, February 29th. Stockholders of record on Friday, February 23rd were given a dividend of $0.10 per share. The ex-dividend date was Thursday, February 22nd.

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.