Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) Shares Acquired by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. increased its stake in Sun Country Airlines by 303.2%, acquiring an additional 362,999 shares, bringing its total ownership to 482,708 shares valued at approximately $5.95 million.
• Other hedge funds, such as American Century Companies and Prudential Financial Inc., also boosted their positions in Sun Country Airlines, indicating increased institutional interest in the company.
• Sun Country Airlines reported $0.72 earnings per share for the last quarter, surpassing the consensus estimate, with revenues of $326.65 million, which is a 4.8% year-over-year increase.

Victory Capital Management Inc. boosted its stake in Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY - Free Report) by 303.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 482,708 shares of the company's stock after acquiring an additional 362,999 shares during the period. Victory Capital Management Inc. owned 0.91% of Sun Country Airlines worth $5,947,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. New York State Common Retirement Fund increased its holdings in Sun Country Airlines by 111.1% in the first quarter. New York State Common Retirement Fund now owns 12,161 shares of the company's stock valued at $150,000 after buying an additional 6,400 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Sun Country Airlines by 230.2% during 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 in the last quarter. VELA Investment Management LLC boosted its holdings in Sun Country Airlines by 24.3% in the first quarter. VELA Investment Management LLC now owns 128,746 shares of the company's stock worth $1,586,000 after purchasing an additional 25,162 shares during the period. Principal Financial Group Inc. increased its stake in Sun Country Airlines by 2.9% during the first quarter. Principal Financial Group Inc. now owns 196,144 shares of the company's stock valued at $2,416,000 after purchasing an additional 5,590 shares during the last quarter. Finally, New York State Teachers Retirement System raised its holdings in shares of Sun Country Airlines by 17.2% during the first quarter. New York State Teachers Retirement System now owns 16,611 shares of the company's stock worth $205,000 after purchasing an additional 2,443 shares during the period.

Insider Buying and Selling

In other Sun Country Airlines news, VP John Gyurci sold 3,150 shares of the business's 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 9,372 shares of company stock worth $110,365. 5.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Susquehanna boosted their price objective on shares of Sun Country Airlines from $11.00 to $12.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. JPMorgan Chase & Co. dropped their price target 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. Barclays cut their price target on Sun Country Airlines from $24.00 to $18.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, TD Cowen raised 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $16.83.

Sun Country Airlines Stock Performance

Shares of NASDAQ SNCY traded down $0.16 during midday trading on Wednesday, hitting $11.99. 1,579,057 shares of the company's stock were exchanged, compared to its average volume of 859,586. 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 debt-to-equity ratio of 0.77, a current ratio of 0.63 and a quick ratio of 0.60. The firm has a market cap of $637.99 million, a P/E ratio of 12.36, a PEG 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 released its quarterly earnings results on Thursday, May 1st. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. Sun Country Airlines had a return on equity of 10.28% and a net margin of 4.96%. The company had revenue of $326.65 million during the quarter, compared to analysts' expectations of $329.51 million. During the same quarter in the prior year, the business posted $0.66 earnings per share. The company's revenue for the quarter was up 4.8% compared to the same quarter last year. Equities research analysts anticipate that Sun Country Airlines Holdings, Inc. will post 1.92 EPS for the current year.

About Sun Country Airlines

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.