Sun Country Airlines (NASDAQ:SNCY) Shares Down 4.2% - Here's What Happened

Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY - Get Free Report)'s stock price traded down 4.2% during trading on Friday . The stock traded as low as $12.97 and last traded at $12.91. 20,659 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 856,994 shares. The stock had previously closed at $13.47.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SNCY shares. Barclays reduced their price objective on shares of Sun Country Airlines from $24.00 to $18.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. 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. TD Cowen increased their target price on shares of Sun Country Airlines from $14.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Sun Country Airlines from $23.00 to $20.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $16.83.

Sun Country Airlines Stock Down 3.9%

The business's 50 day moving average is $11.71 and its 200-day moving average is $13.22. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.60 and a current ratio of 0.63. The stock has a market cap of $689.07 million, a price-to-earnings ratio of 13.37, a PEG ratio of 0.24 and a beta of 1.61.

Sun Country Airlines (NASDAQ:SNCY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. The firm had revenue of $326.65 million for the quarter, compared to analyst estimates of $329.51 million. Sun Country Airlines had a net margin of 4.96% and a return on equity of 10.28%. Sun Country Airlines's revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 EPS. On average, sell-side analysts predict that Sun Country Airlines Holdings, Inc. will post 1.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP John Gyurci sold 3,150 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was 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 directly owned 26,122 shares of the company's stock, valued at approximately $300,141.78. The trade was a 10.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 9,372 shares of company stock valued at $110,365. Insiders own 5.00% of the company's stock.

Hedge Funds Weigh In On Sun Country Airlines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNCY. Canada Pension Plan Investment Board purchased a new stake in shares of Sun Country Airlines during the fourth quarter worth approximately $60,000. BNP Paribas Financial Markets acquired a new position in shares of Sun Country Airlines during the 4th quarter worth $74,000. Acadian Asset Management LLC acquired a new position in shares of Sun Country Airlines during the 1st quarter worth $88,000. Aquatic Capital Management LLC acquired a new position in shares of Sun Country Airlines during the 4th quarter worth $102,000. Finally, Quarry LP raised its stake in shares of Sun Country Airlines by 355.0% during the 4th quarter. Quarry LP now owns 7,894 shares of the company's stock worth $115,000 after buying an additional 6,159 shares during the last quarter.

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.

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