Pacer Advisors Inc. Decreases Stake in Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY)

Key Points

• Pacer Advisors Inc. significantly reduced its stake in Sun Country Airlines by 76.4%, holding $6.15 million worth of shares after selling over 1.6 million shares in the first quarter.
• Major institutional investors, including JPMorgan Chase & Co. and American Century Companies Inc., have recently increased their holdings in Sun Country Airlines, indicating continued interest in the company.
• Despite a slight decline in stock value, analysts maintain a "Moderate Buy" rating for Sun Country Airlines, with an average target price of $16.83 per share.

Pacer Advisors Inc. cut its stake in Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY - Free Report) by 76.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 499,185 shares of the company's stock after selling 1,616,141 shares during the period. Pacer Advisors Inc. owned 0.94% of Sun Country Airlines worth $6,150,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of SNCY. Canada Pension Plan Investment Board acquired a new stake in Sun Country Airlines during the 4th quarter worth $60,000. BNP Paribas Financial Markets bought a new position in Sun Country Airlines during the 4th quarter worth approximately $74,000. Aquatic Capital Management LLC acquired a new position in Sun Country Airlines during the fourth quarter valued at approximately $102,000. Quarry LP increased its stake in Sun Country Airlines by 355.0% in the fourth quarter. Quarry LP now owns 7,894 shares of the company's stock valued at $115,000 after purchasing an additional 6,159 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Sun Country Airlines by 1,390.3% in the first quarter. GAMMA Investing LLC now owns 9,881 shares of the company's stock worth $122,000 after purchasing an additional 9,218 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages have commented on SNCY. TD Cowen raised their target price on shares of Sun Country Airlines from $14.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. lowered their target price on Sun Country Airlines from $23.00 to $20.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Susquehanna increased their price target on Sun Country Airlines from $11.00 to $12.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Finally, Barclays dropped their price objective on Sun Country Airlines from $24.00 to $18.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.83.

Sun Country Airlines Stock Performance

Shares of NASDAQ SNCY traded down $0.17 during mid-day trading on Thursday, hitting $11.82. The company had a trading volume of 216,925 shares, compared to its average volume of 970,237. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 0.77. Sun Country Airlines Holdings, Inc. has a 1 year low of $8.10 and a 1 year high of $18.59. The company has a market capitalization of $629.05 million, a price-to-earnings ratio of 12.21, a P/E/G ratio of 0.26 and a beta of 1.61. The stock's 50-day moving average price is $11.89 and its 200-day moving average price is $12.96.

Sun Country Airlines (NASDAQ:SNCY - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.02. The company had revenue of $326.65 million for the quarter, compared to analysts' expectations of $329.51 million. Sun Country Airlines had a net margin of 4.96% and a return on equity of 10.28%. The firm's revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 EPS. On average, sell-side analysts forecast that Sun Country Airlines Holdings, Inc. will post 1.92 earnings per share for the current year.

Insider Activity

In other Sun Country Airlines news, VP John Gyurci sold 3,150 shares of Sun Country Airlines stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $11.49, for a total value of $36,193.50. Following the completion of the sale, the vice president owned 26,122 shares of the company's stock, valued at approximately $300,141.78. This trade represents a 10.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 9,372 shares of company stock worth $110,365 in the last ninety days. 5.00% of the stock is currently owned by company insiders.

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.