Franklin Resources Inc. decreased its position in shares of Spirit Airlines Incorporated (NASDAQ:SAVE) by 5.8% during the 3rd quarter, Holdings Channel reports. The fund owned 1,087,074 shares of the transportation company’s stock after selling 66,748 shares during the quarter. Franklin Resources Inc.’s holdings in Spirit Airlines were worth $51,060,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Strs Ohio bought a new position in Spirit Airlines during the 2nd quarter worth approximately $105,000. Point72 Hong Kong Ltd boosted its stake 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 worth $106,000 after acquiring an additional 1,730 shares during the last quarter. Sei Investments Co. boosted its stake in Spirit Airlines by 127.9% during the 2nd quarter. Sei Investments Co. now owns 3,934 shares of the transportation company’s stock worth $143,000 after acquiring an additional 2,208 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake 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 worth $162,000 after acquiring an additional 3,294 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new position in Spirit Airlines during the 2nd quarter worth approximately $211,000.
Shares of SAVE opened at $59.67 on Friday. Spirit Airlines Incorporated has a twelve month low of $34.36 and a twelve month high of $65.35.
In other Spirit Airlines news, Director Robert D. Johnson sold 750 shares of Spirit Airlines stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $64.65, for a total value of $48,487.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Rocky Wiggins sold 566 shares of Spirit Airlines stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $47.89, for a total transaction of $27,105.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,816 shares of company stock worth $303,113. Insiders own 0.33% of the company’s stock.
Several research analysts recently weighed in on SAVE shares. Zacks Investment Research lowered shares of Spirit Airlines from a “buy” rating to a “hold” rating in a research note on Monday, October 1st. Imperial Capital lifted their price objective on shares of Spirit Airlines from $72.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, October 26th. Morgan Stanley lifted their price objective on shares of Spirit Airlines from $50.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Monday, October 15th. Credit Suisse Group started coverage on shares of Spirit Airlines in a research note on Monday, November 19th. They set a “neutral” rating and a $59.00 price objective on the stock. Finally, BidaskClub lowered shares of Spirit Airlines from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 2nd. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $61.25.
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Spirit Airlines Company 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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