Atlantic Trust Group LLC Buys New Stake in Spirit Airlines Incorporated (SAVE)

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Atlantic Trust Group LLC bought a new stake in shares of Spirit Airlines Incorporated (NASDAQ:SAVE) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 44,319 shares of the transportation company’s stock, valued at approximately $1,674,000. Atlantic Trust Group LLC owned approximately 0.06% of Spirit Airlines as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in SAVE. Tyvor Capital LLC bought a new position in Spirit Airlines during the 1st quarter valued at about $35,207,000. Millennium Management LLC lifted its holdings in Spirit Airlines by 124.7% during the 4th quarter. Millennium Management LLC now owns 1,268,934 shares of the transportation company’s stock valued at $56,912,000 after purchasing an additional 704,259 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Spirit Airlines by 27.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,730,943 shares of the transportation company’s stock valued at $103,175,000 after purchasing an additional 590,469 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Spirit Airlines by 18.9% during the 4th quarter. Franklin Resources Inc. now owns 3,379,422 shares of the transportation company’s stock valued at $151,567,000 after purchasing an additional 537,786 shares during the last quarter. Finally, Scout Investments Inc. bought a new position in Spirit Airlines during the 1st quarter valued at about $13,063,000.

Several equities analysts recently issued reports on SAVE shares. Jefferies Financial Group raised shares of Spirit Airlines from a “neutral” rating to a “buy” rating in a report on Monday, April 30th. Citigroup cut their price target on shares of Spirit Airlines from $59.00 to $53.00 and set a “buy” rating for the company in a report on Monday, April 30th. Bank of America set a $62.00 price target on shares of Spirit Airlines and gave the company a “buy” rating in a report on Wednesday, April 11th. Deutsche Bank lifted their price target on shares of Spirit Airlines from $58.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, April 11th. Finally, Stephens reissued a “buy” rating and set a $53.00 price target on shares of Spirit Airlines in a report on Tuesday, April 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $48.17.

Shares of NASDAQ SAVE opened at $35.40 on Thursday. Spirit Airlines Incorporated has a 1-year low of $30.32 and a 1-year high of $54.10. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Spirit Airlines (NASDAQ:SAVE) last announced its earnings results on Thursday, April 26th. The transportation company reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. Spirit Airlines had a net margin of 8.55% and a return on equity of 15.86%. The company had revenue of $704.10 million during the quarter, compared to the consensus estimate of $704.39 million. During the same period in the previous year, the firm posted $0.51 earnings per share. The company’s revenue was up 19.3% on a year-over-year basis. analysts anticipate that Spirit Airlines Incorporated will post 3.08 EPS for the current fiscal year.

Spirit Airlines Company 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.

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

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