Royce & Associates LP Purchases 21,954 Shares of Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY)

Key Points

• Royce & Associates LP increased its stake in Sun Country Airlines by 99.6% during the first quarter, owning approximately 0.08% of the company valued at $542,000.
• Multiple institutional investors have also boosted their positions, with Victory Capital Management Inc. raising its holdings by 303.2%, owning now 482,708 shares valued at nearly $5.95 million.
• Sun Country Airlines' recent earnings report showed a 4.8% year-over-year revenue increase, with earnings per share of $0.72, surpassing analysts' expectations of $0.70.

Royce & Associates LP lifted its stake in shares of Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY - Free Report) by 99.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,998 shares of the company's stock after purchasing an additional 21,954 shares during the period. Royce & Associates LP owned approximately 0.08% of Sun Country Airlines worth $542,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SNCY. Ameriprise Financial Inc. raised its holdings in Sun Country Airlines by 34.0% in the fourth quarter. Ameriprise Financial Inc. now owns 3,118,136 shares of the company's stock worth $45,467,000 after purchasing an additional 791,669 shares during the period. Bank of New York Mellon Corp grew its position in shares of Sun Country Airlines by 230.2% in the 1st quarter. Bank of New York Mellon Corp now owns 922,128 shares of the company's stock valued at $11,361,000 after acquiring an additional 642,902 shares during the period. Driehaus Capital Management LLC bought a new position in shares of Sun Country Airlines in the 4th quarter valued at about $8,868,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Sun Country Airlines during the 4th quarter worth about $6,898,000. Finally, Zimmer Partners LP bought a new stake in shares of Sun Country Airlines during the 4th quarter worth about $6,261,000.

Sun Country Airlines Stock Performance

SNCY traded down $1.28 during trading on Friday, hitting $10.31. 2,082,647 shares of the company traded hands, compared to its average volume of 934,489. The firm has a market cap of $548.60 million, a P/E ratio of 9.73, a price-to-earnings-growth ratio of 0.24 and a beta of 1.61. The stock's fifty day moving average is $11.88 and its 200 day moving average is $12.89. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 0.77. Sun Country Airlines Holdings, Inc. has a one year low of $8.10 and a one year high of $18.59.

Sun Country Airlines (NASDAQ:SNCY - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.01. The firm had revenue of $263.62 million during the quarter, compared to analyst estimates of $256.04 million. Sun Country Airlines had a net margin of 5.35% and a return on equity of 10.70%. The company's quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the business earned $0.06 earnings per share. As a group, equities analysts predict that Sun Country Airlines Holdings, Inc. will post 1.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SNCY has been the subject of several analyst reports. Susquehanna lifted their price objective on shares of Sun Country Airlines from $11.00 to $12.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Barclays reduced their target price on shares of Sun Country Airlines from $24.00 to $18.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. reduced their price objective on shares of Sun Country Airlines from $23.00 to $20.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Finally, TD Cowen boosted their target price on shares of Sun Country Airlines from $14.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Sun Country Airlines has an average rating of "Moderate Buy" and an average price target of $16.83.

Insiders Place Their Bets

In other Sun Country Airlines news, VP John Gyurci sold 3,150 shares of the stock in a transaction dated 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 transaction, the vice president owned 26,122 shares in the company, valued at $300,141.78. This trade represents a 10.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 9,372 shares of company stock worth $110,365 in the last three months. 5.00% of the stock is owned by company insiders.

Sun Country Airlines 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.