Susquehanna Fundamental Investments LLC Has $370,000 Stake in Spirit Airlines, Inc. (NYSE:SAVE)

Susquehanna Fundamental Investments LLC increased its position in shares of Spirit Airlines, Inc. (NYSE:SAVE) by 39.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 101,059 shares of the company’s stock after acquiring an additional 28,421 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Spirit Airlines were worth $370,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SAVE. TFO Wealth Partners LLC grew its holdings in shares of Spirit Airlines by 21,975.0% during the fourth quarter. TFO Wealth Partners LLC now owns 3,532 shares of the company’s stock worth $58,000 after purchasing an additional 3,516 shares during the last quarter. CenterBook Partners LP bought a new stake in Spirit Airlines during the 4th quarter worth approximately $1,514,000. Cim Investment Management Inc. grew its holdings in Spirit Airlines by 121.7% during the 4th quarter. Cim Investment Management Inc. now owns 25,937 shares of the company’s stock worth $425,000 after acquiring an additional 14,236 shares during the last quarter. Vanguard Group Inc. increased its position in Spirit Airlines by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 10,418,903 shares of the company’s stock valued at $170,766,000 after acquiring an additional 68,710 shares during the period. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of Spirit Airlines during the first quarter valued at $142,000. Institutional investors and hedge funds own 58.73% of the company’s stock.

Spirit Airlines Stock Performance

Shares of SAVE opened at $2.25 on Friday. The stock has a 50-day moving average of $2.60 and a 200-day moving average of $3.38. Spirit Airlines, Inc. has a one year low of $2.22 and a one year high of $17.49. The company has a debt-to-equity ratio of 3.86, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $245.83 million, a PE ratio of -0.51 and a beta of 1.38.

Spirit Airlines (NYSE:SAVE) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($1.44) EPS for the quarter, missing analysts’ consensus estimates of ($1.30) by ($0.14). Spirit Airlines had a negative net margin of 13.20% and a negative return on equity of 57.87%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the firm posted $0.29 EPS. The business’s revenue for the quarter was down 10.6% compared to the same quarter last year. On average, equities research analysts predict that Spirit Airlines, Inc. will post -7.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SAVE. Raymond James cut shares of Spirit Airlines from a “market perform” rating to an “underperform” rating in a research note on Friday, July 5th. Susquehanna decreased their price target on Spirit Airlines from $2.50 to $2.25 and set a “negative” rating for the company in a research note on Friday, August 16th. Bank of America cut their price objective on Spirit Airlines from $3.25 to $2.75 and set an “underperform” rating on the stock in a research note on Wednesday, July 17th. Citigroup decreased their target price on shares of Spirit Airlines from $3.50 to $2.75 and set a “sell” rating for the company in a research report on Tuesday, July 23rd. Finally, Barclays reduced their price objective on shares of Spirit Airlines from $4.00 to $3.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 10th. Seven research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $2.61.

About Spirit Airlines

Spirit Airlines, Inc provides airline services. The company also offers hotels and rental cars services. It serves 93 destinations in 15 countries in the United States, Latin America, and the Caribbean. As of December 31, 2023, the company operated a fleet of 205 Airbus single-aisle aircraft. The company was formerly known as Clippert Trucking Company and changed its name to Spirit Airlines, Inc in 1992.