The Vanguard Group, Inc. has recently announced that it has increased stake in Spirit Airlines Inc (NYSE:SAVE) by 0.34%. After grabbing 10.23 million shares, the institutional investor is now in possession of 35111.0 shares of the Industrials Company. The new investment brought the stake of investor firm to 9.37% having worth around $151.64 million. Moreover, Fidelity Management & Research Co increased its share by 67898.0 to have a control over 5.3 million shares. And SSgA Funds Management, Inc. raised its holdings to 14292.0 shares by acquiring 2.5 million shares or 2.29% of the stake.
Spirit Airlines Inc (SAVE) concluded trading on 01/04/24 at a closing price of $15.77, with 3.03 million shares of worth about $47.82 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -8.26% during that period and on Thursday the price saw a loss of about -1.25%. Currently the company’s common shares owned by public are about 108.94M shares, out of which, 108.16M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 11 analysts are covering the SAVE stock and their offered price forecasts bring an average price target of $16.50. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $29.00 and could fall to a lowest price of $7.00. The stock’s current price level is 4.42% above of average price target set by the analysts, while a rise to estimated low would result in loss of -125.29% for the stock. However, touching the estimated high of $29.00 would mean a gain of 45.62% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 35 times over the past 12 months. They bought 262,118 shares in 25 of the transactions. In 10 selling transactions, insiders dumped 33,226 shares.
Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Spirit Airlines Inc Vanguard Total Stock Market ETF is currently holding 3.44 million shares of worth totaling $50.96 million. The company recently came buying 7010.0 shares which brought its stake up to 3.15% of the company’s outstanding shares. Vanguard Small Cap Index Fund bought 8664.0 shares, after which its hold over company’s outstanding shares expand to 2.59%, leaving 2.82 million shares with the mutual fund that have a worth of about $41.84 million. iShares Russell 2000 ETF, after buying 2.65 million shares, have now control over 2.43% of the stake in the company. It holds 1305.0 shares of worth $39.31 million.
Spirit Airlines Inc (NYSE: SAVE) started trading at $16.06, above $0.09 from concluding price of the previous day. However, the stock later moved at a day high price of 16.08, or with a loss of -1.25%. Stock saw a price change of -4.19% in past 5 days and over the past one month there was a price change of 1.85%. Year-to-date (YTD), SAVE shares are showing a performance of -3.78% which decreased to -12.45% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $8.56 but also hit the highest price of $19.53 during that period. The average intraday trading volume for Spirit Airlines Inc shares is 4.82 million. The stock is currently trading 2.02% above its 20-day simple moving average (SMA20), while that difference is up 14.78% for SMA50 and it goes to 1.89% higher than SMA200.
The Vanguard Group, Inc. acquired 10.23 million shares of Spirit Airlines Inc having value of about $151.64 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 35111.0 shares in the company valued at close to $553700.47, or have control over 0.34% stake in the company. Spirit Airlines Inc (NYSE: SAVE) currently have 108.94M outstanding shares and institutions hold larger chunk of about 67.95% of that. Holding of mutual funds in the company is about 38.64% while other institutional holders and individual stake holders have control over 39.21% and 29.57% of the stake respectively.
The stock has a current market capitalization of $1.72B and its 3Y-monthly beta is at 1.39. It has posted earnings per share of -$4.90 in the same period. It has Quick Ratio of 0.91 while making debt-to-equity ratio of 5.01. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SAVE, volatility over the week remained 3.09% while standing at 4.57% over the month.
Analysts are in expectations that Spirit Airlines Inc (SAVE) stock would likely to be making an EPS of -$1.63 in the current quarter, while forecast for next quarter EPS is -$1.75 and it is -$2.81 for next year. For the current quarter EPS, analysts have given the company a lowest target -$1.8 which is -$1.52 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.12 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -101.32% while it is estimated to increase by 6.85% in next year.
Analysts at 11 brokerage firms have issued recommendations for the Spirit Airlines Inc (SAVE)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.09. Out of those 11 Wall Street analysts, 1 recommended a “Buy” rating, while 8 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Deutsche Bank on December 20, 2022 offering a Hold rating for the stock and assigned a target price range of between $27 and $24 to it.
