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Dimensional Fund Advisors LP Acquires 363,519 Shares of Spirit Airlines, Inc. (NYSE:SAVE)

Spirit Airlines logo with Transportation background

Dimensional Fund Advisors LP increased its position in shares of Spirit Airlines, Inc. (NYSE:SAVE - Free Report) by 13.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,143,384 shares of the company's stock after acquiring an additional 363,519 shares during the quarter. Dimensional Fund Advisors LP owned 2.88% of Spirit Airlines worth $51,520,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SAVE. International Assets Investment Management LLC grew its position in Spirit Airlines by 467.7% during the fourth quarter. International Assets Investment Management LLC now owns 1,970 shares of the company's stock valued at $32,000 after purchasing an additional 1,623 shares in the last quarter. First Horizon Advisors Inc. bought a new stake in Spirit Airlines in the fourth quarter worth approximately $33,000. Cary Street Partners Investment Advisory LLC bought a new stake in Spirit Airlines in the third quarter worth approximately $50,000. Migdal Insurance & Financial Holdings Ltd. grew its position in Spirit Airlines by 862.8% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,466 shares of the company's stock worth $57,000 after acquiring an additional 3,106 shares in the last quarter. Finally, Byrne Asset Management LLC grew its position in Spirit Airlines by 81.0% in the fourth quarter. Byrne Asset Management LLC now owns 4,200 shares of the company's stock worth $69,000 after acquiring an additional 1,880 shares in the last quarter. Institutional investors and hedge funds own 58.73% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on SAVE shares. Barclays started coverage on shares of Spirit Airlines in a research report on Wednesday, March 27th. They issued an "underweight" rating and a $4.00 target price for the company. Susquehanna decreased their price objective on shares of Spirit Airlines from $4.00 to $3.00 and set a "negative" rating for the company in a report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Spirit Airlines from $4.00 to $3.00 and set a "hold" rating for the company in a report on Tuesday, May 7th. Citigroup decreased their price objective on shares of Spirit Airlines from $3.85 to $3.50 and set a "sell" rating for the company in a report on Tuesday, May 14th. Finally, Evercore ISI decreased their price objective on shares of Spirit Airlines from $18.00 to $3.50 and set an "in-line" rating for the company in a report on Thursday, April 4th. Five analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Reduce" and an average target price of $3.57.


Check Out Our Latest Analysis on Spirit Airlines

Spirit Airlines Stock Performance

NYSE:SAVE traded down $0.04 during trading hours on Wednesday, hitting $3.68. 3,833,026 shares of the company traded hands, compared to its average volume of 12,798,579. The stock has a market capitalization of $402.96 million, a price-to-earnings ratio of -0.83 and a beta of 1.41. Spirit Airlines, Inc. has a twelve month low of $3.18 and a twelve month high of $19.69. The firm has a 50-day moving average of $4.09 and a 200 day moving average of $8.15. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 3.17.

Spirit Airlines (NYSE:SAVE - Get Free Report) last released its earnings results 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 analyst estimates of $1.27 billion. During the same quarter in the previous year, the company earned ($0.82) earnings per share. Spirit Airlines's revenue for the quarter was down 6.2% compared to the same quarter last year. On average, analysts forecast that Spirit Airlines, Inc. will post -3.67 EPS for the current year.

About Spirit Airlines

(Free Report)

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.

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Institutional Ownership by Quarter for Spirit Airlines (NYSE:SAVE)

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