Short Interest in Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) Drops By 16.7%

Key Points

• Short interest fell 16.7% to 3,912,247 shares as of March 31, about 7.6% of shares short, with a short-interest ratio of 6.1 days.
• MarketBeat shows a consensus "Hold" rating and an average price target of $20.29, with recent analyst moves including Susquehanna upgrading to positive (PT $20) and Wolfe Research downgrading to peer perform.
• Shares traded at $17.18 (down 3.3%) with a market cap near $931M; the company recently beat quarterly EPS estimates and saw revenue rise 7.9% year-over-year, while analysts forecast about $1.92 EPS for the year.

Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY - Get Free Report) saw a large decrease in short interest during the month of March. As of March 31st, there was short interest totaling 3,912,247 shares, a decrease of 16.7% from the March 15th total of 4,697,629 shares. Approximately 7.6% of the company's shares are short sold. Based on an average daily volume of 637,435 shares, the short-interest ratio is presently 6.1 days.

Analysts Set New Price Targets

Several equities analysts recently commented on SNCY shares. Susquehanna upgraded shares of Sun Country Airlines from a "neutral" rating to a "positive" rating and upped their price target for the company from $12.00 to $20.00 in a report on Friday, January 9th. Wolfe Research downgraded shares of Sun Country Airlines from an "outperform" rating to a "peer perform" rating in a report on Tuesday, January 20th. TD Cowen reissued a "hold" rating on shares of Sun Country Airlines in a research report on Tuesday, February 10th. Citigroup boosted their price objective on shares of Sun Country Airlines from $18.00 to $20.00 and gave the company a "neutral" rating in a research report on Friday, March 20th. Finally, Zacks Research cut shares of Sun Country Airlines from a "hold" rating to a "strong sell" rating in a research report on Monday. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $20.29.

Institutional Investors Weigh In On Sun Country Airlines

Several hedge funds have recently modified their holdings of SNCY. EverSource Wealth Advisors LLC lifted its position in shares of Sun Country Airlines by 1,728.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,158 shares of the company's stock worth $25,000 after purchasing an additional 2,040 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Sun Country Airlines in the 2nd quarter worth approximately $59,000. Tower Research Capital LLC TRC lifted its position in shares of Sun Country Airlines by 183.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,273 shares of the company's stock worth $62,000 after purchasing an additional 3,415 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Sun Country Airlines in the 1st quarter worth approximately $88,000. Finally, Oregon Public Employees Retirement Fund lifted its position in shares of Sun Country Airlines by 33.3% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 12,014 shares of the company's stock worth $142,000 after purchasing an additional 3,000 shares during the period.

Sun Country Airlines Trading Down 3.3%

Sun Country Airlines stock traded down $0.59 during trading hours on Thursday, hitting $17.18. The company had a trading volume of 1,377,667 shares, compared to its average volume of 1,287,918. The firm has a market cap of $930.98 million, a P/E ratio of 17.90, a P/E/G ratio of 0.63 and a beta of 1.59. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.79 and a current ratio of 0.82. Sun Country Airlines has a 1 year low of $8.10 and a 1 year high of $22.29. The company has a 50-day moving average price of $18.16 and a two-hundred day moving average price of $15.39.

Sun Country Airlines (NASDAQ:SNCY - Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.04. The company had revenue of $280.96 million during the quarter, compared to analysts' expectations of $272.98 million. Sun Country Airlines had a net margin of 4.69% and a return on equity of 8.92%. The firm's quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.27 EPS. On average, sell-side analysts anticipate that Sun Country Airlines will post 1.92 earnings per share for the current year.

About Sun Country Airlines

Sun Country Airlines NASDAQ: SNCY is an American ultra-low-cost carrier providing a blend of scheduled and charter passenger services. The carrier focuses on leisure markets, offering nonstop flights to sun and ski destinations across the United States, Mexico and the Caribbean. In addition to its scheduled network, Sun Country operates charter services for sports teams, corporate groups and tour operators, as well as seasonal cargo charters that support e-commerce peak periods.

Founded in 1982 and headquartered in Minneapolis, Minnesota, Sun Country has navigated multiple ownership and restructuring phases.

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