Rockshelter Capital Management buys $8,165,915 stake in Spirit Airlines Incorporated (SAVE)

Spirit Airlines Incorporated (SAVE) : Rockshelter Capital Management scooped up 114,464 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 11, 2016. The investment management firm now holds a total of 204,250 shares of Spirit Airlines Incorporated which is valued at $8,165,915.Spirit Airlines Incorporated makes up approximately 2.61% of Rockshelter Capital Management’s portfolio.

Other Hedge Funds, Including , Teachers Advisors Inc boosted its stake in SAVE in the latest quarter, The investment management firm added 10,733 additional shares and now holds a total of 68,058 shares of Spirit Airlines Incorporated which is valued at $2,720,959.Jennison Associates reduced its stake in SAVE by selling 318,790 shares or 8.49% in the most recent quarter. The Hedge Fund company now holds 3,437,370 shares of SAVE which is valued at $135,879,236. Spirit Airlines Incorporated makes up approx 0.14% of Jennison Associates’s portfolio.Palisade Capital Managementnj boosted its stake in SAVE in the latest quarter, The investment management firm added 16,632 additional shares and now holds a total of 72,660 shares of Spirit Airlines Incorporated which is valued at $2,872,250. Spirit Airlines Incorporated makes up approx 0.12% of Palisade Capital Managementnj’s portfolio.Alps Advisors Inc reduced its stake in SAVE by selling 624 shares or 6.83% in the most recent quarter. The Hedge Fund company now holds 8,516 shares of SAVE which is valued at $372,405.Middleton Co Incma reduced its stake in SAVE by selling 715 shares or 3.97% in the most recent quarter. The Hedge Fund company now holds 17,315 shares of SAVE which is valued at $757,704. Spirit Airlines Incorporated makes up approx 0.17% of Middleton Co Incma’s portfolio.

Spirit Airlines Incorporated opened for trading at $39.9 and hit $40.5 on the upside on Tuesday, eventually ending the session at $39.9, with a gain of 0.25% or 0.1 points. The heightened volatility saw the trading volume jump to 7,85,096 shares. Company has a market cap of $2,794 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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