Muhlenkamp Co Inc Lowers stake in Spirit Airlines Incorporated (SAVE)

Spirit Airlines Incorporated (SAVE) : Muhlenkamp Co Inc reduced its stake in Spirit Airlines Incorporated by 0.39% during the most recent quarter end. The investment management company now holds a total of 192,555 shares of Spirit Airlines Incorporated which is valued at $7,838,914 after selling 760 shares in Spirit Airlines Incorporated , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Spirit Airlines Incorporated makes up approximately 2.94% of Muhlenkamp Co Inc’s portfolio.

Other Hedge Funds, Including , Private Advisor Group sold out all of its stake in SAVE during the most recent quarter. The investment firm sold 6,075 shares of SAVE which is valued $247,313.Alexandria Capital boosted its stake in SAVE in the latest quarter, The investment management firm added 461 additional shares and now holds a total of 113,133 shares of Spirit Airlines Incorporated which is valued at $4,628,271. Spirit Airlines Incorporated makes up approx 0.79% of Alexandria Capital’s portfolio.South Texas Money Management Ltd boosted its stake in SAVE in the latest quarter, The investment management firm added 70,842 additional shares and now holds a total of 159,482 shares of Spirit Airlines Incorporated which is valued at $6,304,323. Spirit Airlines Incorporated makes up approx 0.34% of South Texas Money Management Ltd’s portfolio.Moody Aldrich Partners boosted its stake in SAVE in the latest quarter, The investment management firm added 3,340 additional shares and now holds a total of 19,845 shares of Spirit Airlines Incorporated which is valued at $867,822. Spirit Airlines Incorporated makes up approx 0.69% of Moody Aldrich Partners’s portfolio.Msi Financial Services Inc reduced its stake in SAVE by selling 424 shares or 25.96% in the most recent quarter. The Hedge Fund company now holds 1,209 shares of SAVE which is valued at $52,870.

Spirit Airlines Incorporated opened for trading at $39.94 and hit $40.3 on the upside on Wednesday, eventually ending the session at $40.05, with a gain of 0.25% or 0.1 points. The heightened volatility saw the trading volume jump to 10,93,437 shares. Company has a market cap of $2,804 M.

On the company’s financial health, Spirit Airlines Incorporated reported $1.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 29, 2016. Analyst had a consensus of $1.08. The company had revenue of $584.10 million for the quarter, compared to analysts expectations of $585.04 million. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS.

Many Wall Street Analysts have commented on Spirit Airlines Incorporated. Spirit Airlines Incorporated was Upgraded by Raymond James to ” Strong Buy” on Aug 4, 2016. Shares were Reiterated by Deutsche Bank on Aug 1, 2016 to “Buy” and Lowered the Price Target to $ 52 from a previous price target of $56 .Spirit Airlines Incorporated was Upgraded by Credit Suisse to ” Outperform” on Jun 20, 2016.

Spirit Airlines Inc. is an airline company. The Company’s all-Airbus fleet operates more than 300 daily flights to 56 destinations in the United States Caribbean and Latin America. Its ultra-low-cost carrier (ULCC) business model provides low base fares with a range of optional services. The Company’s route network includes approximately 151 markets served by 56 airports throughout North America Central America South America and the Caribbean. The Company operates international services to Aruba the Bahamas Colombia Costa Rica Dominican Republic El Salvador Guatemala Haiti Honduras Jamaica Mexico Nicaragua Panama Peru and St. Maarten as well as Puerto Rico and the United States Virgin Islands.

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