Spirit Airlines (SAVE) : The money flow analysis of Spirit Airlines (SAVE) indicates a $8.56 million of outflow was on downticks, whereas, the investors on Friday gobbled up stocks worth $18.33 million on upticks. The ratio between the upticks and downticks was clearly in favor of the bulls at 2.14 and so was the total money flow at $9.77 million. A solid up-down ratio of 19.05 in block trades indicates that the investors are accumulating the stock on weakness. The bulls lapped up $9.53 million worth of block trades on upticks. Only $0.5 million worth of the stock exchanged hands on downticks. The money flow was $9.03 million in block trades, underlining the interest of the bulls in the stock even when the stock was declining.However, the price action shows that the bears had an upper hand in the stock of Spirit Airlines (SAVE), pushing it down by -1.15% for the day. The stock slid $0.46 and traded at $39.53 during the day. Nonetheless, the stock is 0.64% over the previous weeks close.
The company Insiders own 0.26% of Spirit Airlines shares according to the proxy statements. Institutional Investors own 98.44% of Spirit Airlines shares.
In a related news, Elkins David G, director of Spirit Airlines, Inc. had purchased 1,500 shares on March 17, 2016 in a transaction. The price per share was $47.92 and the total amount of the disclosed transaction was $71,880.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.
Spirit Airlines (NASDAQ:SAVE): The stock opened at $39.48 and touched an intraday high of $40.07 on Friday. During the day, the stock corrected to an intraday low of $39.4, however, the bulls stepped in and pushed the price higher to close in the green at $39.81 with a gain of 0.71% for the day. The total traded volume for the day was 751,655. The stock had closed at $39.53 in the previous trading session.
Spirit Airlines (SAVE) has been under a strong bear grip, hence the stock is down -2.56% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 0.84% in the past 1 week. The stock has risen by 1.35% in the past week indicating that the buyers are active at lower levels, but the stock is down -2.69% in the past 4 weeks.
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.