Citigroup Inc. Reduces Stock Position in Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY)

Citigroup Inc. lessened its position in Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) by 45.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,594 shares of the company’s stock after selling 13,663 shares during the period. Citigroup Inc.’s holdings in Sun Country Airlines were worth $246,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Lazard Asset Management LLC bought a new stake in shares of Sun Country Airlines in the third quarter worth about $34,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Sun Country Airlines in the 2nd quarter worth approximately $40,000. Coppell Advisory Solutions LLC purchased a new position in shares of Sun Country Airlines during the second quarter valued at approximately $48,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Sun Country Airlines by 71.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,593 shares of the company’s stock valued at $53,000 after acquiring an additional 1,498 shares in the last quarter. Finally, Quarry LP purchased a new stake in Sun Country Airlines in the first quarter worth $54,000.

Insiders Place Their Bets

In other news, major shareholder Sca Horus Holdings, Llc sold 231,392 shares of Sun Country Airlines stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $16.00, for a total value of $3,702,272.00. Following the completion of the transaction, the insider now owns 11,161,105 shares of the company’s stock, valued at approximately $178,577,680. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, major shareholder Sca Horus Holdings, Llc sold 231,392 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $16.00, for a total transaction of $3,702,272.00. Following the completion of the sale, the insider now owns 11,161,105 shares of the company’s stock, valued at $178,577,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jude Bricker sold 2,621 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $14.76, for a total value of $38,685.96. Following the completion of the transaction, the chief executive officer now directly owns 71,925 shares in the company, valued at $1,061,613. The disclosure for this sale can be found here. Over the last three months, insiders have sold 237,123 shares of company stock valued at $3,786,929. 3.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SNCY. Barclays boosted their price objective on shares of Sun Country Airlines from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, February 5th. Morgan Stanley raised shares of Sun Country Airlines from an “equal weight” rating to an “overweight” rating and set a $21.00 price target for the company in a research note on Monday, February 26th. Finally, Susquehanna reaffirmed a “neutral” rating and set a $15.00 price objective (down from $17.00) on shares of Sun Country Airlines in a research report on Wednesday, January 10th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Sun Country Airlines presently has a consensus rating of “Moderate Buy” and an average price target of $19.60.

Sun Country Airlines Trading Up 4.8 %

NASDAQ:SNCY opened at $15.06 on Thursday. The firm has a market capitalization of $802.56 million, a P/E ratio of 12.34 and a beta of 1.62. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.65 and a quick ratio of 0.63. Sun Country Airlines Holdings, Inc. has a one year low of $11.96 and a one year high of $23.80. The company’s 50-day simple moving average is $14.47 and its 200 day simple moving average is $14.59.

Sun Country Airlines (NASDAQ:SNCY) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. Sun Country Airlines had a return on equity of 15.23% and a net margin of 6.88%. The firm had revenue of $245.54 million for the quarter, compared to analysts’ expectations of $248.82 million. As a group, analysts forecast that Sun Country Airlines Holdings, Inc. will post 1.6 EPS for the current fiscal year.

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.