Sun Country Airlines (NASDAQ:SNCY) Trading 4.3% Higher - Here's What Happened

Shares of Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY - Get Free Report) shot up 4.3% during trading on Tuesday . The company traded as high as $9.72 and last traded at $9.71. 304,902 shares were traded 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

SNCY has been the subject of a number of research reports. JPMorgan Chase & Co. initiated coverage on Sun Country Airlines in a research report on Wednesday, January 22nd. They set an "overweight" rating and a $23.00 price target for the company. 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. Finally, Susquehanna decreased their price objective on shares of Sun Country Airlines from $17.00 to $11.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Sun Country Airlines presently has an average rating of "Moderate Buy" and an average target price of $17.71.

Sun Country Airlines Stock Up 11.5 %

The stock has a market capitalization of $582.61 million, a price-to-earnings ratio of 11.54, a price-to-earnings-growth ratio of 0.42 and a beta of 1.55. 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 business's 50-day moving average is $11.89 and its two-hundred day moving average is $14.06.

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

Insiders Place Their Bets

In other news, CEO Jude Bricker sold 2,172 shares of Sun Country Airlines stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $12.02, for a total transaction of $26,107.44. Following the sale, the chief executive officer now owns 127,589 shares of the company's stock, valued at approximately $1,533,619.78. The trade was a 1.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 5,662 shares of company stock valued at $68,045 over the last ninety days. Company insiders own 4.60% of the company's stock.

Hedge Funds Weigh In On Sun Country Airlines

Hedge funds have recently modified their holdings of the business. Canada Pension Plan Investment Board acquired a new position in Sun Country Airlines in the fourth quarter valued at about $60,000. BNP Paribas Financial Markets acquired a new position in shares of Sun Country Airlines in the 4th quarter worth approximately $74,000. Aquatic Capital Management LLC purchased a new position in shares of Sun Country Airlines during the 4th quarter worth approximately $102,000. Quarry LP increased its holdings in Sun Country Airlines by 355.0% in the 4th quarter. Quarry LP now owns 7,894 shares of the company's stock valued at $115,000 after purchasing an additional 6,159 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Sun Country Airlines by 1,390.3% in the first quarter. GAMMA Investing LLC now owns 9,881 shares of the company's stock valued at $122,000 after purchasing an additional 9,218 shares during the period.

Sun Country Airlines Company Profile

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.