Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) Sees Significant Increase in Short Interest

Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 3,600,000 shares, an increase of 22.9% from the June 30th total of 2,930,000 shares. Approximately 8.9% of the shares of the company are sold short. Based on an average trading volume of 627,300 shares, the days-to-cover ratio is presently 5.7 days.

Sun Country Airlines Stock Performance

Shares of NASDAQ:SNCY traded up $0.33 during mid-day trading on Tuesday, reaching $12.77. 39,324 shares of the company traded hands, compared to its average volume of 613,974. The company’s 50 day moving average price is $11.45 and its 200-day moving average price is $13.13. The firm has a market cap of $671.84 million, a PE ratio of 10.20, a PEG ratio of 0.57 and a beta of 1.56. Sun Country Airlines has a 52 week low of $9.22 and a 52 week high of $21.69. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.61 and a quick ratio of 0.59.

Sun Country Airlines (NASDAQ:SNCY) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.02). The firm had revenue of $311.50 million during the quarter, compared to the consensus estimate of $316.23 million. Sun Country Airlines had a return on equity of 14.35% and a net margin of 6.48%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.68 earnings per share. On average, equities analysts expect that Sun Country Airlines will post 1.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SNCY has been the subject of several research reports. TD Cowen upped their price target on shares of Sun Country Airlines from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Morgan Stanley reaffirmed an “overweight” rating and set a $21.00 target price on shares of Sun Country Airlines in a report on Thursday, June 20th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.67.

Insider Activity

In other news, SVP Grant Whitney sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $12.42, for a total transaction of $62,100.00. Following the completion of the transaction, the senior vice president now directly owns 26,355 shares of the company’s stock, valued at $327,329.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Jude Bricker sold 2,086 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $12.62, for a total value of $26,325.32. Following the transaction, the chief executive officer now directly owns 122,905 shares in the company, valued at approximately $1,551,061.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Grant Whitney sold 5,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $12.42, for a total value of $62,100.00. Following the sale, the senior vice president now owns 26,355 shares of the company’s stock, valued at approximately $327,329.10. The disclosure for this sale can be found here. Insiders have sold a total of 15,964 shares of company stock valued at $189,075 in the last 90 days. 3.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sun Country Airlines

A number of institutional investors have recently bought and sold shares of SNCY. CWM LLC boosted its stake in shares of Sun Country Airlines by 1,660.9% in the second quarter. CWM LLC now owns 2,659 shares of the company’s stock worth $33,000 after acquiring an additional 2,508 shares during the period. Innealta Capital LLC bought a new position in Sun Country Airlines in the 2nd quarter worth approximately $40,000. Assetmark Inc. grew its holdings in Sun Country Airlines by 39.0% during the 4th quarter. Assetmark Inc. now owns 3,314 shares of the company’s stock valued at $52,000 after buying an additional 929 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Sun Country Airlines during the first quarter valued at approximately $66,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Sun Country Airlines in the second quarter worth $80,000.

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.