Sun Country Airlines (NASDAQ:SNCY) Issues Earnings Results

Sun Country Airlines (NASDAQ:SNCY) announced its quarterly earnings data on Thursday. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.04, FiscalAI reports. Sun Country Airlines had a net margin of 5.25% and a return on equity of 10.32%. The company had revenue of $280.96 million during the quarter, compared to analysts’ expectations of $272.98 million.

Sun Country Airlines Trading Up 0.3%

Shares of SNCY traded up $0.06 during trading hours on Thursday, reaching $19.40. The stock had a trading volume of 2,130,570 shares, compared to its average volume of 2,076,202. The firm has a 50-day moving average of $15.67 and a 200 day moving average of $13.35. The company has a quick ratio of 0.73, a current ratio of 0.76 and a debt-to-equity ratio of 0.76. The company has a market cap of $1.02 billion, a P/E ratio of 18.48, a P/E/G ratio of 0.41 and a beta of 1.58. Sun Country Airlines has a 52 week low of $8.10 and a 52 week high of $19.97.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Cantor Fitzgerald set a $21.00 price target on shares of Sun Country Airlines in a research report on Monday, November 3rd. Susquehanna upgraded shares of Sun Country Airlines from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $12.00 to $20.00 in a research report on Friday, January 9th. TD Cowen lowered shares of Sun Country Airlines from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $21.00 to $18.00 in a research note on Tuesday. Zacks Research downgraded shares of Sun Country Airlines from a “hold” rating to a “strong sell” rating in a research report on Monday, January 26th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $19.00 price target (down previously from $22.00) on shares of Sun Country Airlines in a research note on Tuesday, January 13th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $19.25.

Insider Buying and Selling at Sun Country Airlines

In related news, SVP Erin Rose Neale sold 2,257 shares of the stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $17.53, for a total transaction of $39,565.21. Following the completion of the transaction, the senior vice president directly owned 38,931 shares of the company’s stock, valued at approximately $682,460.43. This represents a 5.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Stephen Andrew Coley sold 2,052 shares of Sun Country Airlines stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $15.09, for a total transaction of $30,964.68. Following the transaction, the senior vice president directly owned 45,040 shares of the company’s stock, valued at approximately $679,653.60. This trade represents a 4.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 21,378 shares of company stock worth $343,249. Corporate insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Sun Country Airlines

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brooklyn Investment Group raised its position in Sun Country Airlines by 8,325.9% in the 3rd quarter. Brooklyn Investment Group now owns 30,586 shares of the company’s stock valued at $361,000 after buying an additional 30,223 shares during the last quarter. Oxford Asset Management LLP bought a new position in shares of Sun Country Airlines in the second quarter valued at approximately $290,000. Raymond James Financial Inc. bought a new position in shares of Sun Country Airlines in the second quarter valued at approximately $364,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Sun Country Airlines by 19.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,029 shares of the company’s stock valued at $329,000 after acquiring an additional 4,542 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Sun Country Airlines by 32.5% during the second quarter. The Manufacturers Life Insurance Company now owns 18,441 shares of the company’s stock worth $217,000 after acquiring an additional 4,519 shares during the period.

About Sun Country Airlines

Sun Country Airlines (NASDAQ: SNCY) is an American ultra-low-cost carrier providing a blend of scheduled and charter passenger services. The carrier focuses on leisure markets, offering nonstop flights to sun and ski destinations across the United States, Mexico and the Caribbean. In addition to its scheduled network, Sun Country operates charter services for sports teams, corporate groups and tour operators, as well as seasonal cargo charters that support e-commerce peak periods.

Founded in 1982 and headquartered in Minneapolis, Minnesota, Sun Country has navigated multiple ownership and restructuring phases.