Polar Capital LLP Sells 788,657 Shares of Spirit Airlines Incorporated (SAVE)

Polar Capital LLP reduced its holdings in Spirit Airlines Incorporated (NASDAQ:SAVE) by 54.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 672,247 shares of the transportation company’s stock after selling 788,657 shares during the period. Polar Capital LLP owned 0.98% of Spirit Airlines worth $38,937,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. 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 acquiring an additional 99,240 shares during the period. 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 acquiring an additional 99,240 shares during the period. BlackRock Inc. grew its position in shares of Spirit Airlines by 6.5% in the 4th quarter. BlackRock Inc. now owns 4,810,444 shares of the transportation company’s stock valued at $278,621,000 after acquiring an additional 292,498 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Spirit Airlines by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,341,595 shares of the transportation company’s stock valued at $251,464,000 after acquiring an additional 114,209 shares during the period. Finally, Mackenzie Financial Corp grew its position in shares of Spirit Airlines by 7.9% in the 3rd quarter. Mackenzie Financial Corp now owns 2,064,490 shares of the transportation company’s stock valued at $96,969,000 after acquiring an additional 151,426 shares during the period.

In other Spirit Airlines news, Director Robert D. Johnson sold 750 shares of Spirit Airlines stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $56.68, for a total value of $42,510.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is owned by insiders.



Shares of SAVE stock opened at $55.43 on Thursday. Spirit Airlines Incorporated has a 52 week low of $34.36 and a 52 week high of $65.35.

Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings data on Tuesday, February 5th. The transportation company reported $1.38 earnings per share for the quarter, hitting the consensus estimate of $1.38. The business had revenue of $862.80 million during the quarter, compared to analyst estimates of $861.65 million. During the same quarter last year, the firm earned $0.73 EPS. Spirit Airlines’s revenue for the quarter was up 29.5% compared to the same quarter last year.

Several analysts recently commented on the stock. Credit Suisse Group assumed coverage on shares of Spirit Airlines in a report on Monday, November 19th. They set a “neutral” rating and a $59.00 target price for the company. Zacks Investment Research downgraded shares of Spirit Airlines from a “buy” rating to a “hold” rating in a report on Tuesday. Cowen lifted their target price on shares of Spirit Airlines from $55.00 to $60.00 and gave the stock a “market perform” rating in a report on Tuesday, November 27th. BidaskClub downgraded shares of Spirit Airlines from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Finally, Imperial Capital reduced their target price on shares of Spirit Airlines from $98.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, January 9th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Spirit Airlines presently has a consensus rating of “Buy” and an average price target of $69.87.

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About Spirit Airlines

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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Institutional Ownership by Quarter for Spirit Airlines (NASDAQ:SAVE)

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