Sun Country Airlines (NASDAQ:SNCY) Trading Up 4.3% - Here's Why

Shares of Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY - Get Free Report) traded up 4.3% on Tuesday . The stock traded as high as $9.72 and last traded at $9.71. 304,902 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 799,360 shares. The stock had previously closed at $9.31.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Barclays dropped their price target on shares of Sun Country Airlines from $24.00 to $18.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. initiated coverage on Sun Country Airlines in a research note on Wednesday, January 22nd. They issued an "overweight" rating and a $23.00 price target on the stock. Finally, Susquehanna lowered their price objective on Sun Country Airlines from $17.00 to $11.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Sun Country Airlines has a consensus rating of "Moderate Buy" and an average price target of $17.71.

Sun Country Airlines Trading Up 8.7 %

The company has a quick ratio of 0.61, a current ratio of 0.63 and a debt-to-equity ratio of 0.86. The firm's 50-day simple moving average is $12.01 and its 200 day simple moving average is $14.04. The stock has a market capitalization of $567.99 million, a P/E ratio of 11.24, a PEG ratio of 0.42 and a beta of 1.55.

Sun Country Airlines (NASDAQ:SNCY - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.02. Sun Country Airlines had a return on equity of 10.23% and a net margin of 4.92%. The firm had revenue of $326.65 million for the quarter, compared to analysts' expectations of $329.51 million. During the same quarter last year, the business posted $0.66 EPS. Sun Country Airlines's revenue was up 4.8% on a year-over-year basis. Equities research analysts anticipate that Sun Country Airlines Holdings, Inc. will post 1.92 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jude Bricker sold 2,172 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $12.02, for a total value of $26,107.44. Following the completion of the sale, the chief executive officer now directly owns 127,589 shares of the company's stock, valued at approximately $1,533,619.78. This represents a 1.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 5,662 shares of company stock worth $68,045. Corporate insiders own 4.60% of the company's stock.

Hedge Funds Weigh In On Sun Country Airlines

A number of hedge funds have recently added to or reduced their stakes in SNCY. New York State Common Retirement Fund lifted its holdings in shares of Sun Country Airlines by 111.1% during the first quarter. New York State Common Retirement Fund now owns 12,161 shares of the company's stock worth $150,000 after buying an additional 6,400 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Sun Country Airlines by 230.2% during the first quarter. Bank of New York Mellon Corp now owns 922,128 shares of the company's stock valued at $11,361,000 after purchasing an additional 642,902 shares during the period. VELA Investment Management LLC raised its stake in shares of Sun Country Airlines by 24.3% in the first quarter. VELA Investment Management LLC now owns 128,746 shares of the company's stock valued at $1,586,000 after purchasing an additional 25,162 shares in the last quarter. Principal Financial Group Inc. lifted its position in Sun Country Airlines by 2.9% in the first quarter. Principal Financial Group Inc. now owns 196,144 shares of the company's stock worth $2,416,000 after purchasing an additional 5,590 shares during the period. Finally, New York State Teachers Retirement System boosted its stake in 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 buying an additional 2,443 shares in 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.