Save Stock Slips as Traders Buy High Volumes of Call Options

On Thursday, a few strange option trades were made with Spirit Airlines, Inc. (NYSE:SAVE) as traders purchased 49,219 call options on the stock. Compared to the typical volume of 9,293 in call options, this was a 430% increase.

Performance of Save Stock

On Friday in the afternoon, shares of Spirit Airlines rose $22.90. Spirit Airliness 52-week high is $28.30, and its 52-week low is $15.92. The companys debt to equity is 1.44, its current ratio is 1.01, and its quick ratio is also 1.01, as reported on Marketbeat.

On Tuesday, August 9th, Spirit Airlines (NYSE:SAVE) last released information about its quarterly earnings. The business outperformed analysts consensus expectations by $0.04, posting ($0.30) earnings per share for the quarter. Spirit Airlines had a 17.25% negative return on equity and a 7.53% negative net margin. During the quarter, the companys sales were $1.37 billion, exceeding analysts projections of $1.35 billion. Sell-side analysts expect Spirit Airlines will report -2.05 earnings per share for the current fiscal year as a whole.

Recently, several research analysts have published assessments of the company. Spirit Airlines stock received a neutral rating and a target price rise from Susquehanna Bancshares of $22.00 to $27.00 in a research note on Tuesday, July 12th. In a research report published on Tuesday, July 12th, Susquehanna raised its neutral rating for Spirit Airlines and increased its price objective for the firm from $22.00 to $27.00. Melius started covering Spirit Airlines stock in a report on August 15th, Monday. They assigned the company a rating of hold.

Bookings For International Airlines Are Still Returning To Levels From 2019.

Spirit Airlines Institutional Investors

Recently, shares of the company have been bought and sold by hedge funds and institutional investors. US Bancorp DE increased its holdings in Spirit Airlines during the second quarter by 164.1%. US Bancorp DE now owns 1,384 shares in the company, valued at $33,000, while Byrne Asset Management LLC bought a new stake worth $34,000. Goodwin Investment Advisory also increased its shares by 125.0% in Q2.

During the quarter, Goodwin Investment Advisory acquired an additional 1,000 shares of the companys stock, bringing its total share count to 1,800, valued at $43,000. Save stock was added to by Migdal Insurance & Financial Holdings Ltd. during the first quarter, increasing its ownership by 58.3%. Migdal Insurance & Financial Holdings Ltd. now directly owns 2,197 shares of the companys stock, valued at $48,000. In Q2, Harel Insurance Investments & Financial Services Ltd. added a new $52,000 investment. 68.02% of the stock of the firm is held by hedge funds and other institutional investors.

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Author: Jowi Kwasu
Market Jar Media Inc.
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