Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) Short Interest Down 16.7% in March

Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) was the target of a significant decline in short interest in March. As of March 31st, there was short interest totaling 3,912,247 shares, a decline of 16.7% from the March 15th total of 4,697,629 shares. Based on an average daily trading volume, of 637,435 shares, the days-to-cover ratio is currently 6.1 days. Approximately 7.6% of the company’s stock are sold short.

Institutional Trading of Sun Country Airlines

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Sun Country Airlines by 13.9% during the third quarter. Vanguard Group Inc. now owns 4,817,742 shares of the company’s stock valued at $56,898,000 after acquiring an additional 589,323 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Sun Country Airlines by 1.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,178,770 shares of the company’s stock worth $37,351,000 after purchasing an additional 43,197 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Sun Country Airlines by 6.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,685,524 shares of the company’s stock worth $38,645,000 after purchasing an additional 161,833 shares during the period. State Street Corp raised its holdings in shares of Sun Country Airlines by 7.2% in the 4th quarter. State Street Corp now owns 2,023,372 shares of the company’s stock worth $29,116,000 after purchasing an additional 136,038 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of Sun Country Airlines by 8.2% in the 3rd quarter. American Century Companies Inc. now owns 1,989,120 shares of the company’s stock worth $23,492,000 after purchasing an additional 150,778 shares during the period.

Sun Country Airlines Stock Performance

Shares of Sun Country Airlines stock traded up $1.08 during trading hours on Friday, hitting $18.26. 630,383 shares of the company were exchanged, compared to its average volume of 1,278,652. The business has a 50-day moving average of $18.12 and a 200-day moving average of $15.41. Sun Country Airlines has a 1 year low of $8.10 and a 1 year high of $22.29. The stock has a market capitalization of $989.76 million, a price-to-earnings ratio of 19.04, a P/E/G ratio of 0.63 and a beta of 1.59. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 0.71.

Sun Country Airlines (NASDAQ:SNCY) last posted its earnings results on Thursday, February 5th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.04. The company had revenue of $280.96 million for the quarter, compared to analyst estimates of $272.98 million. Sun Country Airlines had a return on equity of 8.92% and a net margin of 4.69%.Sun Country Airlines’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.27 earnings per share. As a group, analysts expect that Sun Country Airlines will post 1.92 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on SNCY. TD Cowen reiterated a “hold” rating on shares of Sun Country Airlines in a research note on Tuesday, February 10th. Susquehanna upgraded Sun Country Airlines from a “neutral” rating to a “positive” rating and boosted their price objective for the company from $12.00 to $20.00 in a research note on Friday, January 9th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $19.00 price objective (down from $22.00) on shares of Sun Country Airlines in a research note on Tuesday, January 13th. Citigroup boosted their price objective on Sun Country Airlines from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, March 20th. Finally, Wolfe Research cut Sun Country Airlines from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 20th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Sun Country Airlines has an average rating of “Hold” and a consensus target price of $20.29.

Sun Country Airlines Company Profile

Sun Country Airlines (NASDAQ: SNCY) is an American ultra-low-cost carrier providing a blend of scheduled and charter passenger services. The carrier focuses on leisure markets, offering nonstop flights to sun and ski destinations across the United States, Mexico and the Caribbean. In addition to its scheduled network, Sun Country operates charter services for sports teams, corporate groups and tour operators, as well as seasonal cargo charters that support e-commerce peak periods.

Founded in 1982 and headquartered in Minneapolis, Minnesota, Sun Country has navigated multiple ownership and restructuring phases.