Spirit Airlines Incorporated Stock Price Could Go Up After Today’s Bullish Options Activity

 Spirit Airlines Incorporated Stock Price Could Go Up After Today's Bullish Options Activity

In today’s session Spirit Airlines Incorporated (SAVE) registered an unusually high (904) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious SAVE increase. With 904 contracts traded and 32004 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: SAVE161021C00042500 closed last at: $1.75 or 94.4% up. About 1.27M shares traded hands. Spirit Airlines Incorporated (NASDAQ:SAVE) has declined 7.15% since March 14, 2016 and is downtrending. It has underperformed by 12.76% the S&P500.

Analysts await Spirit Airlines Incorporated (NASDAQ:SAVE) to report earnings on October, 25. They expect $1.07 EPS, down 20.74% or $0.28 from last year’s $1.35 per share. SAVE’s profit will be $75.37 million for 10.28 P/E if the $1.07 EPS becomes a reality. After $1.11 actual EPS reported by Spirit Airlines Incorporated for the previous quarter, Wall Street now forecasts -3.60% negative EPS growth.

Spirit Airlines Incorporated (NASDAQ:SAVE) Ratings Coverage

Out of 11 analysts covering Spirit Airlines (NASDAQ:SAVE), 7 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 64% are positive. Spirit Airlines has been the topic of 30 analyst reports since August 18, 2015 according to StockzIntelligence Inc. The rating was upgraded by Raymond James to “Outperform” on Friday, February 26. The firm has “Outperform” rating given on Tuesday, December 8 by Cowen & Co. The stock has “Overweight” rating given by JP Morgan on Thursday, February 4. The stock has “Strong-Buy” rating given by Raymond James on Friday, August 28. On Monday, October 26 the stock rating was downgraded by Wolfe Research to “Peer Perform”. The firm has “Strong Buy” rating by Raymond James given on Thursday, August 4. The stock of Spirit Airlines Incorporated (NASDAQ:SAVE) earned “Buy” rating by Citigroup on Tuesday, April 19. The stock has “Overweight” rating given by Barclays Capital on Tuesday, November 24. As per Friday, October 16, the company rating was downgraded by Raymond James. JP Morgan downgraded Spirit Airlines Incorporated (NASDAQ:SAVE) rating on Wednesday, April 20. JP Morgan has “Neutral” rating and $52 price target.

According to Zacks Investment Research, “Spirit Airlines Inc. operates an airline based in Fort Lauderdale providing travel opportunity principally to and from South Florida, the Caribbean and Latin America. Spirit Airlines Inc. is based in Miramar, Florida.”

Insitutional Activity: The institutional sentiment decreased to 0.87 in Q2 2016. Its down 0.35, from 1.22 in 2016Q1. The ratio turned negative, as 45 funds sold all Spirit Airlines Incorporated shares owned while 82 reduced positions. 35 funds bought stakes while 76 increased positions. They now own 67.97 million shares or 1.84% more from 66.74 million shares in 2016Q1.
Fred Alger Management Incorporated accumulated 197,736 shares or 0.05% of the stock. Alexandria Cap Ltd Liability, a Virginia-based fund reported 113,133 shares. Virginia Retirement Et Al reported 22,700 shares or 0.02% of all its holdings. Hightower Advsr Limited Liability Corporation has 0.04% invested in the company for 64,795 shares. Graham Mgmt L P holds 9,400 shares or 0.02% of its portfolio. Citigroup holds 0.01% or 118,361 shares in its portfolio. Susquehanna Intll Gru Llp has invested 0% of its portfolio in Spirit Airlines Incorporated (NASDAQ:SAVE). Geode Capital Management Limited Liability Company holds 522,861 shares or 0.01% of its portfolio. Stanley holds 20,283 shares or 0.36% of its portfolio. Nicholas Partners Limited Partnership holds 36,636 shares or 0.11% of its portfolio. Kempen Cap Mgmt Nv accumulated 7,035 shares or 0.04% of the stock. U S Glob Invsts accumulated 0.94% or 40,132 shares. State Street Corp owns 915,860 shares or 0% of their US portfolio. Daiwa Securities Gru accumulated 0% or 15,000 shares. Kennedy Capital Mgmt Incorporated, a Missouri-based fund reported 46,725 shares.

Insider Transactions: Since September 13, 2016, the stock had 0 buys, and 1 sale for $11,511 net activity. Shares for $11,511 were sold by Villa Laurie on Tuesday, September 13.

Spirit Airlines, Inc. is an airline company. The company has a market cap of $3.10 billion. The Company’s all-Airbus fleet operates more than 385 daily flights to 56 destinations in the United States, Caribbean and Latin America. It has a 10.28 P/E ratio. The Company’s ultra-low-cost carrier business model provides low, unbundled base fares that remove components traditionally included in the price of an airline ticket.

SAVE Company Profile

Spirit Airlines, Inc., incorporated on March 8, 1994, is an airline company. The Company’s all-Airbus fleet operates more than 385 daily flights to 56 destinations in the United States, Caribbean and Latin America. The Company’s ultra-low-cost carrier (ULCC) business model provides low, unbundled base fares that remove components traditionally included in the price of an airline ticket. The Firm offers a range of optional services, allowing clients to save by paying only for the options they choose such as bags, advance seat assignments and refreshments. The Company’s route network includes approximately 151 markets throughout North America, Central America, South America and the Caribbean. The Firm operates international services to Aruba, 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.

More notable recent Spirit Airlines Incorporated (NASDAQ:SAVE) news were published by: Fool.com which released: “The Airbus A320neo Arrives at Spirit Airlines Incorporated” on October 16, 2016, also Fool.com with their article: “Where Will Spirit Airlines Incorporated Grow Next?” published on June 08, 2016, Finance.Yahoo.com published: “Spirit Airlines, Inc. (SAVE)” on April 22, 2014. More interesting news about Spirit Airlines Incorporated (NASDAQ:SAVE) were released by: Fool.com and their article: “Investors Don’t Understand Spirit Airlines Incorporated” published on November 03, 2015 as well as Fool.com‘s news article titled: “1 Piece of Great News for Spirit Airlines Incorporated” with publication date: December 22, 2015.

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