Spirit Airlines (NASDAQ:SAVE) Sees Large Volume Increase
Spirit Airlines Incorporated (NASDAQ:SAVE) saw unusually-strong trading volume on Monday . Approximately 1,019,983 shares traded hands during mid-day trading, a decline of 10% from the previous session’s volume of 1,131,277 shares.The stock last traded at $39.59 and had previously closed at $39.07.
Several research analysts recently weighed in on SAVE shares. Citigroup started coverage on Spirit Airlines in a research report on Thursday, October 31st. They issued a “buy” rating and a $46.00 price objective for the company. Stephens lowered Spirit Airlines from an “overweight” rating to an “equal” rating and lowered their price objective for the stock from $55.00 to $45.00 in a research report on Monday, September 23rd. Bank of America lowered Spirit Airlines to a “sell” rating and set a $39.00 price objective for the company. in a research report on Monday, September 23rd. TheStreet lowered Spirit Airlines from a “b-” rating to a “c” rating in a research report on Wednesday, August 21st. Finally, Morgan Stanley lowered their price objective on Spirit Airlines from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $51.19.
The business has a 50 day simple moving average of $37.83 and a 200 day simple moving average of $42.20.
A number of large investors have recently added to or reduced their stakes in SAVE. NJ State Employees Deferred Compensation Plan lifted its stake in Spirit Airlines by 37.5% during the second quarter. NJ State Employees Deferred Compensation Plan now owns 11,000 shares of the transportation company’s stock worth $525,000 after purchasing an additional 3,000 shares in the last quarter. Strs Ohio raised its stake in shares of Spirit Airlines by 105.6% in the second quarter. Strs Ohio now owns 29,200 shares of the transportation company’s stock valued at $1,393,000 after acquiring an additional 15,000 shares in the last quarter. Coronation Fund Managers Ltd. acquired a new stake in shares of Spirit Airlines in the second quarter valued at $1,443,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Spirit Airlines in the second quarter valued at $28,000. Finally, Creative Planning raised its stake in shares of Spirit Airlines by 30.9% in the second quarter. Creative Planning now owns 179,756 shares of the transportation company’s stock valued at $8,580,000 after acquiring an additional 42,387 shares in the last quarter.
Spirit Airlines Company Profile (NASDAQ:SAVE)
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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