Sun Country Airlines (NASDAQ:SNCY) Trading Up 9.8% After Earnings Beat

Shares of Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) rose 9.8% on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $14.10 and last traded at $14.03. Approximately 522,821 shares traded hands during trading, a decline of 18% from the average daily volume of 636,419 shares. The stock had previously closed at $12.78.

The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. Sun Country Airlines had a return on equity of 10.34% and a net margin of 4.75%. The business had revenue of $249.50 million during the quarter, compared to the consensus estimate of $250.30 million. During the same period in the prior year, the firm posted $0.14 EPS. The business’s revenue for the quarter was up .2% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SNCY shares. Wolfe Research upgraded Sun Country Airlines from a “peer perform” rating to an “outperform” rating and set a $14.00 target price for the company in a report on Tuesday, October 8th. Susquehanna dropped their price objective on shares of Sun Country Airlines from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. One research analyst has 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 presently has an average rating of “Moderate Buy” and a consensus target price of $17.20.

Insider Buying and Selling at Sun Country Airlines

In other news, VP John Gyurci sold 3,000 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $11.30, for a total value of $33,900.00. Following the completion of the transaction, the vice president now directly owns 14,407 shares in the company, valued at approximately $162,799.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 7,788 shares of company stock valued at $85,852 over the last 90 days. 4.60% of the stock is owned by corporate insiders.

Institutional Trading of Sun Country Airlines

Hedge funds and other institutional investors have recently modified their holdings of the business. VELA Investment Management LLC purchased a new position in Sun Country Airlines in the third quarter valued at about $421,000. Farther Finance Advisors LLC grew its position in shares of Sun Country Airlines by 76.9% during the third quarter. Farther Finance Advisors LLC now owns 2,300 shares of the company’s stock worth $26,000 after buying an additional 1,000 shares in the last quarter. US Bancorp DE raised its holdings in Sun Country Airlines by 4,522.7% in the third quarter. US Bancorp DE now owns 8,367 shares of the company’s stock valued at $94,000 after acquiring an additional 8,186 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Sun Country Airlines by 4.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 223,266 shares of the company’s stock valued at $2,503,000 after acquiring an additional 10,462 shares during the last quarter. Finally, U S Global Investors Inc. boosted its stake in Sun Country Airlines by 14.2% during the 3rd quarter. U S Global Investors Inc. now owns 2,705,789 shares of the company’s stock valued at $30,332,000 after acquiring an additional 336,086 shares during the last quarter.

Sun Country Airlines Price Performance

The company has a market cap of $741.94 million, a P/E ratio of 15.61, a P/E/G ratio of 0.66 and a beta of 1.54. The company’s 50-day moving average price is $11.25 and its two-hundred day moving average price is $11.53. The company has a current ratio of 0.58, a quick ratio of 0.56 and a debt-to-equity ratio of 1.01.

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.