Reassessing The Changing Outlook For Spirit Airlines Inc (SAVE)

Currently, there are 109.26M common shares owned by the public and among those 107.94M shares have been available to trade.

Insiders at the company have transacted a total of 10 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 9 of these insider trades were purchases, accounting for 25,225 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 2,604 shares.

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However, the script later moved the day high at 7.14, down -7.38%. The company’s stock has a 5-day price change of 5.56% and -33.06% over the past three months. SAVE shares are trading -58.93% year to date (YTD), with the 12-month market performance down to -63.10% lower. It has a 12-month low price of $3.99 and touched a high of $18.73 over the same period. SAVE has an average intraday trading volume of 0.58 shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -12.10%, -45.35%, and -53.90% respectively.

Institutional ownership of Spirit Airlines Inc (NYSE: SAVE) shares accounts for 68.36% of the company’s 109.26M shares outstanding.

It has a market capitalization of $725.98M and a beta (3y monthly) value of 1.39. The earnings-per-share (ttm) stands at -$4.10. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.69% over the week and 20.44% over the month.

Analysts forecast that Spirit Airlines Inc (SAVE) will achieve an EPS of $Spirit Airlines, Inc. for the current quarter, $6.65 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Global X Funds Global X U.S. In while analysts give the company a high EPS estimate of $Safehold Inc. New. Comparatively, EPS for the current quarter was $Sage Therapeutics, Inc. a year ago. Earnings per share for the fiscal year are expected to increase by 15.64%, and 42.53% over the next financial year.

Looking at the support for the SAVE, a number of firms have released research notes about the stock. TD Cowen stated their Market Perform rating for the stock in a research note on January 22, 2024, with the firm’s price target at $11-$5.

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