Thompson Siegel & Walmsley LLC Makes New $5.49 Million Investment in Spirit Airlines, Inc. (NYSE:SAVE)

Thompson Siegel & Walmsley LLC acquired a new position in Spirit Airlines, Inc. (NYSE:SAVE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 334,855 shares of the company's stock, valued at approximately $5,488,000. Thompson Siegel & Walmsley LLC owned about 0.31% of Spirit Airlines as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in Spirit Airlines by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,057,224 shares of the company's stock valued at $17,328,000 after buying an additional 32,811 shares during the last quarter. Private Advisor Group LLC purchased a new stake in Spirit Airlines during the 4th quarter valued at $179,000. Levin Capital Strategies L.P. bought a new stake in shares of Spirit Airlines during the 4th quarter valued at $246,000. First Horizon Advisors Inc. bought a new stake in shares of Spirit Airlines during the 4th quarter valued at $33,000. Finally, Victory Capital Management Inc. grew its position in shares of Spirit Airlines by 22.8% during the 4th quarter. Victory Capital Management Inc. now owns 14,579 shares of the company's stock valued at $239,000 after acquiring an additional 2,703 shares during the period. 58.73% of the stock is currently owned by hedge funds and other institutional investors.

Spirit Airlines Price Performance

Shares of NYSE:SAVE traded down $0.04 during midday trading on Friday, reaching $3.80. 6,809,419 shares of the company were exchanged, compared to its average volume of 7,095,634. The stock has a market cap of $416.10 million, a PE ratio of -0.86 and a beta of 1.41. The business's fifty day moving average is $4.31 and its two-hundred day moving average is $8.95. Spirit Airlines, Inc. has a one year low of $3.18 and a one year high of $19.69. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 3.17.

Spirit Airlines (NYSE:SAVE - Get Free Report) last released its quarterly earnings data on Monday, May 6th. The company reported ($1.46) EPS for the quarter, missing the consensus estimate of ($1.45) by ($0.01). Spirit Airlines had a negative net margin of 9.21% and a negative return on equity of 34.64%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period last year, the company earned ($0.82) EPS. The firm's revenue for the quarter was down 6.2% on a year-over-year basis. As a group, analysts predict that Spirit Airlines, Inc. will post -2.9 earnings per share for the current year.

Spirit Airlines Announces Dividend

The company also recently declared a dividend, which was paid on Thursday, February 29th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, February 22nd.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SAVE. Susquehanna cut their price objective on shares of Spirit Airlines from $4.00 to $3.00 and set a "negative" rating for the company in a research report on Wednesday. TD Cowen cut their price objective on shares of Spirit Airlines from $4.00 to $3.00 and set a "hold" rating for the company in a research report on Tuesday. Citigroup cut their price objective on shares of Spirit Airlines from $4.00 to $3.85 and set a "sell" rating for the company in a research report on Wednesday, April 17th. Seaport Res Ptn downgraded shares of Spirit Airlines from a "buy" rating to a "neutral" rating in a research report on Wednesday, January 17th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Spirit Airlines from $4.00 to $3.00 and set a "hold" rating for the company in a report on Tuesday. Five analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $3.62.

Spirit Airlines Company Profile

Spirit Airlines, Inc provides airline services. The company also offers hotels and rental cars services. It serves 93 destinations in 15 countries in the United States, Latin America, and the Caribbean. As of December 31, 2023, the company operated a fleet of 205 Airbus single-aisle aircraft. The company was formerly known as Clippert Trucking Company and changed its name to Spirit Airlines, Inc in 1992.