Shares of Spirit Airlines (SAVE) Sees Large Outflow of Money

Spirit Airlines (SAVE) : The value of composite uptick trades was $10.28 million, whereas, the value of composite downtick trades was $13.85 million. The uptick to downtick ratio stood at 0.74 with a negative money flow of ($3.56) Million during Tuesdays trading session. The block trades money flow was negative ($2.72 million). The transaction of the trades on downticks amounted to $2.72 million, which confirms investors selling on the strength of price. Spirit Airlines (SAVE) gained 57 cents at $39.96, an increase of 1.45% over the previous days close.


Also, Citigroup maintains their rating on the shares of Spirit Airlines (NASDAQ:SAVE). The current rating of the shares is Buy. Equity Analysts at the Firm lowers the price target to $51 per share from $56 per share. The rating by the firm was issued on August 8, 2016.

Shares of Spirit Airlines, Inc. appreciated by 0.15% during the last five trading days but lost 3.92% on a 4-week basis. Spirit Airlines, Inc. has dropped 7.97% during the last 3-month period . Year-to-Date the stock performance stands at 0.28%.

Spirit Airlines (NASDAQ:SAVE): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $39.18 and $37.79 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $40.04. The buying momentum continued till the end and the stock did not give up its gains. It closed at $39.96, notching a gain of 1.45% for the day. The total traded volume was 1,393,001 . The stock had closed at $39.39 on the previous day.

In a related news, The Securities and Exchange Commission has divulged in a Form 4 filing that the director of Spirit Airlines, Inc., Elkins David G had purchased shares worth of $71,880 in a transaction dated on March 17, 2016. A total of 1,500 shares were purchased at a price of $47.92 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

Spirit Airlines, Inc. is an airline company. The Companys 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 Companys 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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