Dynamic Technology Lab Private Ltd purchased a new stake in shares of Spirit Airlines Incorporated (NASDAQ:SAVE) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 32,311 shares of the transportation company’s stock, valued at approximately $1,517,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in SAVE. Strs Ohio bought a new position in Spirit Airlines during the 2nd quarter valued at approximately $105,000. Point72 Hong Kong Ltd raised its position in Spirit Airlines by 147.4% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,904 shares of the transportation company’s stock valued at $106,000 after purchasing an additional 1,730 shares during the last quarter. Sei Investments Co. raised its position in Spirit Airlines by 127.9% during the 2nd quarter. Sei Investments Co. now owns 3,934 shares of the transportation company’s stock valued at $143,000 after purchasing an additional 2,208 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Spirit Airlines by 286.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,445 shares of the transportation company’s stock valued at $162,000 after purchasing an additional 3,294 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in Spirit Airlines during the 3rd quarter valued at approximately $206,000.
SAVE stock opened at $59.67 on Friday. Spirit Airlines Incorporated has a fifty-two week low of $34.36 and a fifty-two week high of $65.35.
A number of research analysts have commented on SAVE shares. Zacks Investment Research lowered Spirit Airlines from a “buy” rating to a “hold” rating in a research report on Monday, October 1st. BidaskClub raised Spirit Airlines from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 31st. JPMorgan Chase & Co. upped their price target on Spirit Airlines to $59.00 in a research report on Sunday, December 2nd. Morgan Stanley upped their target price on Spirit Airlines from $50.00 to $53.00 and gave the stock an “equal weight” rating in a report on Monday, October 15th. Finally, Imperial Capital reiterated an “outperform” rating and set a $69.00 target price (up previously from $61.00) on shares of Spirit Airlines in a report on Thursday, September 27th. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $61.25.
In related news, Director Robert D. Johnson sold 750 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $64.65, for a total value of $48,487.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Rocky Wiggins sold 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $50.56, for a total value of $227,520.00. The disclosure for this sale can be found here. Insiders sold a total of 5,816 shares of company stock worth $303,113 in the last 90 days. 0.33% of the stock is currently owned by company insiders.
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Spirit Airlines 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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