Intech Investment Management LLC Buys Shares of 34,939 Spirit Airlines, Inc. (NYSE:SAVE)

Intech Investment Management LLC purchased a new position in Spirit Airlines, Inc. (NYSE:SAVE) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 34,939 shares of the company’s stock, valued at approximately $84,000.

Other large investors have also recently made changes to their positions in the company. U S Global Investors Inc. acquired a new stake in Spirit Airlines in the 3rd quarter valued at about $28,816,000. Federated Hermes Inc. grew its position 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 valued at $1,583,000 after purchasing an additional 332,188 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Spirit Airlines by 5.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 73,622 shares of the company’s stock valued at $357,000 after purchasing an additional 3,955 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Spirit Airlines by 950.3% during the second quarter. Nisa Investment Advisors LLC now owns 18,663 shares of the company’s stock worth $68,000 after buying an additional 16,886 shares in the last quarter. Finally, High Note Wealth LLC acquired a new position in Spirit Airlines during the third quarter worth $36,000. 58.73% of the stock is currently owned by hedge funds and other institutional investors.

Spirit Airlines Trading Down 5.6 %

NYSE SAVE opened at $1.02 on Monday. The company has a debt-to-equity ratio of 3.86, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $111.71 million, a P/E ratio of -0.17 and a beta of 1.37. The firm’s 50-day moving average is $1.84 and its two-hundred day moving average is $2.62. Spirit Airlines, Inc. has a 12 month low of $1.02 and a 12 month high of $17.02.

Wall Street Analyst Weigh In

SAVE has been the subject of a number of recent research reports. Susquehanna cut their target price on Spirit Airlines from $2.25 to $1.50 and set a “negative” rating for the company in a research note on Wednesday, October 9th. Barclays dropped their price objective on shares of Spirit Airlines from $3.00 to $0.50 and set an “underweight” rating for the company in a report on Thursday, November 14th. Finally, TD Cowen reduced their target price on shares of Spirit Airlines from $2.00 to $1.00 and set a “sell” rating on the stock in a research note on Wednesday, November 13th. Seven research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to MarketBeat.com, Spirit Airlines has a consensus rating of “Reduce” and a consensus price target of $2.00.

Spirit Airlines Company 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.