South Texas Money Management Ltd buys $6,304,323 stake in Spirit Airlines Incorporated (SAVE)

Spirit Airlines Incorporated (SAVE) : South Texas Money Management Ltd scooped up 70,842 additional shares in Spirit Airlines Incorporated during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 159,482 shares of Spirit Airlines Incorporated which is valued at $6,304,323.Spirit Airlines Incorporated makes up approximately 0.34% of South Texas Money Management Ltd’s portfolio.

Other Hedge Funds, Including , Gilder Gagnon Howe Co reduced its stake in SAVE by selling 153,260 shares or 7.98% in the most recent quarter. The Hedge Fund company now holds 1,766,874 shares of SAVE which is valued at $69,844,529. Spirit Airlines Incorporated makes up approx 1.29% of Gilder Gagnon Howe Co’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.Rs Investment Management Co boosted its stake in SAVE in the latest quarter, The investment management firm added 82,317 additional shares and now holds a total of 772,956 shares of Spirit Airlines Incorporated which is valued at $33,801,366. Spirit Airlines Incorporated makes up approx 0.33% of Rs Investment Management Co’s portfolio. Fox Run Management L.l.c. sold out all of its stake in SAVE during the most recent quarter. The investment firm sold 11,900 shares of SAVE which is valued $521,339.

Spirit Airlines Incorporated opened for trading at $41.08 and hit $41.1 on the upside on Thursday, eventually ending the session at $40.43, with a gain of 2.28% or 0.9 points. The heightened volatility saw the trading volume jump to 18,77,446 shares. Company has a market cap of $2,831 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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