Sun Country Airlines (NASDAQ:SNCY) Shares Gap Up – Here’s Why

Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) shares gapped up before the market opened on Friday . The stock had previously closed at $13.91, but opened at $14.58. Sun Country Airlines shares last traded at $14.10, with a volume of 98,172 shares traded.

Wall Street Analyst Weigh In

SNCY has been the subject of several research reports. Barclays boosted their price objective on shares of Sun Country Airlines from $20.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Wolfe Research upgraded shares of Sun Country Airlines from a “peer perform” rating to an “outperform” rating and set a $14.00 price objective for the company in a research note on Tuesday, October 8th. The Goldman Sachs Group reiterated a “neutral” rating and set a $17.00 price objective on shares of Sun Country Airlines in a research note on Friday, November 15th. Finally, Susquehanna boosted their price objective on shares of Sun Country Airlines from $11.00 to $14.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Sun Country Airlines currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.33.

Sun Country Airlines Stock Down 1.3 %

The firm has a market capitalization of $726.87 million, a PE ratio of 16.95, a P/E/G ratio of 0.64 and a beta of 1.48. The firm’s 50 day moving average price is $12.49 and its two-hundred day moving average price is $11.60. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 0.96.

Sun Country Airlines (NASDAQ:SNCY) last announced its earnings results on Wednesday, October 30th. The company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $249.50 million during the quarter, compared to the consensus estimate of $250.30 million. Sun Country Airlines had a net margin of 4.25% and a return on equity of 9.00%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.14 earnings per share. As a group, research analysts forecast that Sun Country Airlines Holdings, Inc. will post 0.98 EPS for the current fiscal year.

Insider Activity

In other Sun Country Airlines news, VP John Gyurci sold 3,000 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $11.30, for a total transaction of $33,900.00. Following the transaction, the vice president now directly owns 14,407 shares in the company, valued at $162,799.10. This represents a 17.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO David M. Davis sold 2,115 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $14.51, for a total transaction of $30,688.65. Following the transaction, the chief financial officer now owns 36,158 shares in the company, valued at $524,652.58. This trade represents a 5.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,720 shares of company stock worth $694,763. 4.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SNCY. Farther Finance Advisors LLC raised its holdings 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 purchasing an additional 1,000 shares during the period. CWM LLC raised its holdings in shares of Sun Country Airlines by 1,660.9% during the second quarter. CWM LLC now owns 2,659 shares of the company’s stock worth $33,000 after purchasing an additional 2,508 shares during the period. Innealta Capital LLC acquired a new stake in shares of Sun Country Airlines during the second quarter worth $40,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Sun Country Airlines during the first quarter worth $66,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Sun Country Airlines during the second quarter worth $80,000.

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.