Spirit Airlines (SAVE) Shares Gap Up to $63.13

Spirit Airlines Incorporated (NASDAQ:SAVE) gapped up before the market opened on Thursday . The stock had previously closed at $61.84, but opened at $63.13. Spirit Airlines shares last traded at $64.59, with a volume of 2025516 shares traded.

Several equities research analysts recently commented on SAVE shares. 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 target on the stock. BidaskClub upgraded shares of Spirit Airlines from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 31st. Zacks Investment Research lowered shares of Spirit Airlines from a “buy” rating to a “hold” rating in a research note on Wednesday, September 12th. Cowen lifted their price objective on shares of Spirit Airlines from $55.00 to $60.00 and gave the company a “market perform” rating in a research note on Tuesday, November 27th. Finally, Macquarie lifted their price objective on shares of Spirit Airlines from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, August 28th. 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 stock. The stock currently has an average rating of “Buy” and a consensus target price of $61.25.

Spirit Airlines (NASDAQ:SAVE) last released its quarterly earnings data on Wednesday, October 24th. The transportation company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.03. The company had revenue of $904.33 million for the quarter, compared to analysts’ expectations of $904.05 million.



In other Spirit Airlines news, Director Robert D. Johnson sold 750 shares of Spirit Airlines stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $64.65, for a total transaction of $48,487.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Rocky Wiggins sold 4,500 shares of Spirit Airlines stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $50.56, for a total transaction of $227,520.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,816 shares of company stock worth $303,113. 0.33% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the business. Great Lakes Advisors LLC bought a new stake in Spirit Airlines during the 3rd quarter worth about $8,580,000. Vanguard Group Inc. grew its position in shares of Spirit Airlines by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,933,398 shares of the transportation company’s stock valued at $278,692,000 after purchasing an additional 99,240 shares during the period. Morgan Stanley grew its position in shares of Spirit Airlines by 91.7% in the 3rd quarter. Morgan Stanley now owns 454,983 shares of the transportation company’s stock valued at $21,371,000 after purchasing an additional 217,582 shares during the period. Teachers Advisors LLC boosted its position in Spirit Airlines by 2.4% during the 3rd quarter. Teachers Advisors LLC now owns 133,848 shares of the transportation company’s stock worth $6,287,000 after acquiring an additional 3,125 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in Spirit Airlines by 7.9% during the 3rd quarter. Mackenzie Financial Corp now owns 2,064,490 shares of the transportation company’s stock worth $96,969,000 after acquiring an additional 151,426 shares during the last quarter.

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About Spirit Airlines (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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