Creative Planning Has $57,000 Holdings in Spirit Airlines, Inc. (NYSE:SAVE)

Creative Planning trimmed its position in shares of Spirit Airlines, Inc. (NYSE:SAVE) by 36.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,859 shares of the company’s stock after selling 13,854 shares during the quarter. Creative Planning’s holdings in Spirit Airlines were worth $57,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of Spirit Airlines during the first quarter valued at about $352,000. Bayesian Capital Management LP bought a new stake in Spirit Airlines during the 1st quarter worth approximately $829,000. Federated Hermes Inc. raised its stake in shares of Spirit Airlines by 331.2% in the second quarter. Federated Hermes Inc. now owns 432,494 shares of the company’s stock worth $1,583,000 after purchasing an additional 332,188 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Spirit Airlines by 0.7% in the first quarter. Vanguard Group Inc. now owns 10,491,947 shares of the company’s stock valued at $50,781,000 after purchasing an additional 73,044 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Spirit Airlines by 5.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 73,622 shares of the company’s stock valued at $357,000 after buying an additional 3,955 shares during the last quarter. 58.73% of the stock is currently owned by institutional investors.

Spirit Airlines Stock Performance

NYSE SAVE opened at $3.22 on Wednesday. The company has a market capitalization of $352.65 million, a PE ratio of -0.50 and a beta of 1.37. The company has a debt-to-equity ratio of 3.86, a quick ratio of 0.94 and a current ratio of 0.94. Spirit Airlines, Inc. has a 52-week low of $1.40 and a 52-week high of $17.01. The company has a 50-day simple moving average of $2.33 and a 200 day simple moving average of $2.95.

Analysts Set New Price Targets

A number of research firms recently commented on SAVE. Susquehanna lowered their price target on Spirit Airlines from $2.25 to $1.50 and set a “negative” rating for the company in a research report on Wednesday, October 9th. TD Cowen downgraded shares of Spirit Airlines from a “hold” rating to a “sell” rating and lowered their target price for the company from $3.00 to $2.00 in a report on Wednesday, July 17th. Citigroup cut their price target on shares of Spirit Airlines from $3.50 to $2.75 and set a “sell” rating on the stock in a report on Tuesday, July 23rd. Finally, Bank of America decreased their price objective on shares of Spirit Airlines from $3.25 to $2.75 and set an “underperform” rating for the company in a research note on Wednesday, July 17th. Seven investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $2.50.

Spirit Airlines Profile

Spirit Airlines, Inc provides airline services. The company also offers hotels and rental cars services. It serves 93 destinations in 15 countries in the United States, Latin America, and the Caribbean. As of December 31, 2023, the company operated a fleet of 205 Airbus single-aisle aircraft. The company was formerly known as Clippert Trucking Company and changed its name to Spirit Airlines, Inc in 1992.