Sun Country Airlines (NASDAQ:SNCY) Shares Gap Up – Here’s Why

Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY)’s share price gapped up before the market opened on Friday . The stock had previously closed at $9.96, but opened at $10.34. Sun Country Airlines shares last traded at $10.47, with a volume of 65,301 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Morgan Stanley restated an “overweight” rating and issued a $21.00 target price on shares of Sun Country Airlines in a research note on Thursday, June 20th. TD Cowen raised their price target on shares of Sun Country Airlines from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Finally, Susquehanna decreased their price objective on shares of Sun Country Airlines from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Friday, August 16th.

Sun Country Airlines Price Performance

The business’s 50 day moving average is $10.74 and its two-hundred day moving average is $11.89. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.58 and a quick ratio of 0.56. The firm has a market capitalization of $528.10 million, a PE ratio of 8.20, a P/E/G ratio of 0.55 and a beta of 1.54.

Sun Country Airlines (NASDAQ:SNCY) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. Sun Country Airlines had a net margin of 4.75% and a return on equity of 10.34%. The firm had revenue of $254.40 million for the quarter, compared to the consensus estimate of $255.59 million. During the same period last year, the firm posted $0.40 earnings per share. The business’s revenue was down 2.6% compared to the same quarter last year. As a group, research analysts anticipate that Sun Country Airlines Holdings, Inc. will post 0.84 EPS for the current year.

Insiders Place Their Bets

In related news, VP John Gyurci sold 3,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $11.30, for a total transaction of $33,900.00. Following the sale, the vice president now owns 14,407 shares of the company’s stock, valued at $162,799.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Sun Country Airlines news, SVP Grant Whitney sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $12.06, for a total transaction of $60,300.00. Following the completion of the sale, the senior vice president now directly owns 25,068 shares in the company, valued at $302,320.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP John Gyurci sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $11.30, for a total transaction of $33,900.00. Following the sale, the vice president now owns 14,407 shares of the company’s stock, valued at $162,799.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,788 shares of company stock worth $146,152 over the last three months. Company insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Sun Country Airlines

Several large investors have recently added to or reduced their stakes in SNCY. CWM LLC grew its holdings in shares of Sun Country Airlines by 1,660.9% in the second quarter. CWM LLC now owns 2,659 shares of the company’s stock valued at $33,000 after purchasing an additional 2,508 shares in the last quarter. Innealta Capital LLC bought a new stake in Sun Country Airlines in the second quarter worth $40,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Sun Country Airlines in the 1st quarter worth about $66,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Sun Country Airlines during the second quarter valued at approximately $80,000. Finally, Meeder Asset Management Inc. purchased a new position in Sun Country Airlines during the 2nd quarter valued at $124,000.

Sun Country Airlines Company Profile

Sun Country Airlines Holdings, Inc, an air carrier company, operates scheduled passenger, air cargo, charter air transportation, and related services in the United States, Latin America, and internationally. It operates through two segments, Passenger and Cargo. The company also provides crew, maintenance, and insurance services through ad hoc, repeat, short-term, and long-term service contracts; and loyalty program rewards.