LSV Asset Management Increases Stake in Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY)

Key Points

• LSV Asset Management increased its stake in Sun Country Airlines Holdings, Inc. by 30.7% in Q1, owning approximately 1.93% of the company, valued at $12.68 million.
• Recent analyst reports have lowered price targets for SNCY, with Morgan Stanley decreasing it from $21.00 to $20.00, while Barclays reduced theirs from $24.00 to $18.00.
• Sun Country Airlines reported quarterly earnings of $0.14 per share, exceeding the consensus estimate, with a revenue of $263.62 million for the quarter, marking a 3.6% increase year-over-year.

LSV Asset Management grew its stake in Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY - Free Report) by 30.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,028,778 shares of the company's stock after acquiring an additional 241,400 shares during the period. LSV Asset Management owned 1.93% of Sun Country Airlines worth $12,675,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. New York State Teachers Retirement System grew its holdings in Sun Country Airlines by 17.2% during the 1st quarter. New York State Teachers Retirement System now owns 16,611 shares of the company's stock worth $205,000 after acquiring an additional 2,443 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Sun Country Airlines in the 1st quarter worth approximately $498,000. Renaissance Technologies LLC bought a new position in shares of Sun Country Airlines during the fourth quarter valued at approximately $1,475,000. JPMorgan Chase & Co. boosted its stake in shares of Sun Country Airlines by 44.3% during the fourth quarter. JPMorgan Chase & Co. now owns 370,890 shares of the company's stock valued at $5,408,000 after purchasing an additional 113,789 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Sun Country Airlines by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 916,393 shares of the company's stock valued at $13,364,000 after buying an additional 16,027 shares during the period.

Insider Activity

In other news, VP John Gyurci sold 3,150 shares of Sun Country Airlines stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $11.49, for a total transaction of $36,193.50. Following the completion of the sale, the vice president directly owned 26,122 shares in the company, valued at approximately $300,141.78. The trade was a 10.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 9,372 shares of company stock valued at $110,365 over the last three months. Company insiders own 5.00% of the company's stock.

Sun Country Airlines Stock Down 0.3%

NASDAQ:SNCY traded down $0.04 during mid-day trading on Friday, hitting $10.85. 523,593 shares of the company's stock traded hands, compared to its average volume of 983,776. The company has a fifty day moving average of $11.81 and a 200 day moving average of $12.74. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.60 and a current ratio of 0.63. Sun Country Airlines Holdings, Inc. has a twelve month low of $8.10 and a twelve month high of $18.59. The company has a market capitalization of $578.26 million, a P/E ratio of 10.20, a P/E/G ratio of 0.24 and a beta of 1.61.

Sun Country Airlines (NASDAQ:SNCY - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. The firm had revenue of $263.62 million for the quarter, compared to the consensus estimate of $256.04 million. Sun Country Airlines had a net margin of 5.35% and a return on equity of 10.53%. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.06 earnings per share. On average, analysts forecast that Sun Country Airlines Holdings, Inc. will post 1.92 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SNCY. Evercore ISI lowered their target price on Sun Country Airlines from $20.00 to $19.00 and set an "outperform" rating for the company in a report on Monday. JPMorgan Chase & Co. reduced their price target on Sun Country Airlines from $23.00 to $20.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Morgan Stanley dropped their price objective on Sun Country Airlines from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Monday. TD Cowen lifted their target price on Sun Country Airlines from $14.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Finally, Susquehanna reissued a "neutral" rating and set a $11.00 price target (down from $12.00) on shares of Sun Country Airlines in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Sun Country Airlines presently has an average rating of "Moderate Buy" and an average price target of $17.38.

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.