Zimmer Partners LP Makes New $6.26 Million Investment in Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY)

Zimmer Partners LP bought a new position in shares of Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 429,421 shares of the company’s stock, valued at approximately $6,261,000. Zimmer Partners LP owned about 0.81% of Sun Country Airlines at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SNCY. Pacer Advisors Inc. acquired a new position in Sun Country Airlines during the 4th quarter worth $30,841,000. Ameriprise Financial Inc. lifted its position in Sun Country Airlines by 34.0% during the 4th quarter. Ameriprise Financial Inc. now owns 3,118,136 shares of the company’s stock worth $45,467,000 after acquiring an additional 791,669 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in Sun Country Airlines during the 4th quarter worth $8,868,000. Arrowstreet Capital Limited Partnership acquired a new position in Sun Country Airlines during the 4th quarter worth $6,898,000. Finally, Hudson Bay Capital Management LP acquired a new position in Sun Country Airlines during the 4th quarter worth $5,475,000.

Insider Buying and Selling

In related news, CEO Jude Bricker sold 2,172 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $12.02, for a total value of $26,107.44. Following the completion of the transaction, the chief executive officer now owns 127,589 shares of the company’s stock, valued at $1,533,619.78. This represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 5,662 shares of company stock valued at $68,045 over the last quarter. Corporate insiders own 5.00% of the company’s stock.

Sun Country Airlines Stock Performance

NASDAQ:SNCY opened at $12.05 on Tuesday. Sun Country Airlines Holdings, Inc. has a 12-month low of $8.10 and a 12-month high of $18.59. The company has a quick ratio of 0.61, a current ratio of 0.63 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $641.16 million, a PE ratio of 12.68, a price-to-earnings-growth ratio of 0.42 and a beta of 1.57. The firm has a 50-day moving average price of $11.23 and a 200 day moving average price of $14.00.

Sun Country Airlines (NASDAQ:SNCY) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. Sun Country Airlines had a net margin of 4.92% and a return on equity of 10.23%. The firm had revenue of $326.65 million during the quarter, compared to analyst estimates of $329.51 million. During the same quarter in the prior year, the business posted $0.66 earnings per share. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. Research analysts anticipate that Sun Country Airlines Holdings, Inc. will post 1.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SNCY shares. Susquehanna boosted their target price on shares of Sun Country Airlines from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Monday, May 5th. JPMorgan Chase & Co. cut their price objective on shares of Sun Country Airlines from $23.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Barclays cut their price objective on shares of Sun Country Airlines from $24.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, TD Cowen upped their price objective on shares of Sun Country Airlines from $14.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.43.

Sun Country Airlines Company Profile

Sun Country Airlines Holdings, Inc, an air carrier company, operates scheduled passenger, air cargo, charter air transportation, and related services in the United States, Latin America, and internationally. It operates through two segments, Passenger and Cargo. The company also provides crew, maintenance, and insurance services through ad hoc, repeat, short-term, and long-term service contracts; and loyalty program rewards.