Fmr LLC Has $471.73 Million Position in Spirit Airlines Incorporated (NASDAQ:SAVE)

Fmr LLC lessened its position in shares of Spirit Airlines Incorporated (NASDAQ:SAVE) by 12.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,924,123 shares of the transportation company’s stock after selling 1,315,486 shares during the quarter. Fmr LLC owned approximately 13.04% of Spirit Airlines worth $471,730,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Columbus Circle Investors grew its position in Spirit Airlines by 7.8% during the first quarter. Columbus Circle Investors now owns 668,385 shares of the transportation company’s stock valued at $35,331,000 after buying an additional 48,328 shares during the period. D. E. Shaw & Co. Inc. grew its position in Spirit Airlines by 1,159.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 501,335 shares of the transportation company’s stock valued at $29,037,000 after buying an additional 461,533 shares during the period. OppenheimerFunds Inc. grew its position in Spirit Airlines by 18.6% during the first quarter. OppenheimerFunds Inc. now owns 2,807,700 shares of the transportation company’s stock valued at $148,415,000 after buying an additional 440,339 shares during the period. Bank of Montreal Can grew its position in Spirit Airlines by 496.8% during the fourth quarter. Bank of Montreal Can now owns 6,672 shares of the transportation company’s stock valued at $387,000 after buying an additional 5,554 shares during the period. Finally, AlphaCrest Capital Management LLC purchased a new position in Spirit Airlines during the fourth quarter valued at $330,000.

NASDAQ:SAVE opened at $49.63 on Thursday. Spirit Airlines Incorporated has a twelve month low of $34.36 and a twelve month high of $65.35.

Spirit Airlines (NASDAQ:SAVE) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.84 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.84. The business had revenue of $855.80 million during the quarter, compared to analysts’ expectations of $855.77 million. The business’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.44 earnings per share.

SAVE has been the topic of several recent analyst reports. BidaskClub downgraded shares of Spirit Airlines from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Barclays raised shares of Spirit Airlines from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $65.00 to $70.00 in a report on Monday, March 11th. Imperial Capital decreased their price objective on shares of Spirit Airlines from $92.00 to $83.00 and set an “outperform” rating on the stock in a report on Thursday, March 28th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Spirit Airlines from a “buy” rating to a “hold” rating in a report on Tuesday, March 12th. Finally, Goldman Sachs Group downgraded shares of Spirit Airlines from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $69.00 to $60.00 in a report on Thursday, June 6th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $66.87.

In other news, Director Robert D. Johnson sold 750 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $45.97, for a total value of $34,477.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Laurie Villa sold 3,800 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $53.69, for a total transaction of $204,022.00. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

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Spirit Airlines Profile

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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