Does Spirit Airlines Inc. (SAVE) Have Insiders Selling Shares?

As of Friday close, Spirit Airlines Inc.’s (NYSE:SAVE) stock was up $0.63, moving up 3.85 percent to $16.98. The average number of shares traded per day over the past five days has been 4,295,060 shares. 1 time new highs have been achieved over the past 5 days, with a -$2.76 fall in that time frame. In the last twenty days, the average volume was 3,549,400, while in the previous 50 days, it was 4,764,778.

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Since last month, SAVE stock retreated -33.15%. Shares of the company fell to $15.92 on 05/12/22, the lowest level in the past month. A 52-week high of $37.19 was reached on 02/10/22 after having rallying from a 52-week low of $15.92. Since the beginning of this year, SAVE’s stock price has dropped by -22.29% or -$4.87, and marked a new high 11 times. However, the stock has declined by -54.34% since its 52-week high.

Spirit Airlines Inc. (SAVE) last reported insider trading activity 88 days ago on Feb 15. Canfield Thomas C, the SVP, General Counsel and Sec of the company, disposed of 12,349 shares for $27.44 on Feb 15. It resulted in a $338,857 divestment by the insider. Vanier Kevin Blake sold 1,100 shares at an average price of $27.23 on Feb 15. The insider now owns 26,560 shares following the transaction. On Dec 01, Director JOHNSON ROBERT D sold 500 shares at $21.66 apiece. The transaction was valued at $10,830.

Valuation Metrics

The stock’s beta is 1.23. Besides these, the trailing price-to-sales (P/S) ratio of 0.60, the price-to-book (PB) ratio of 0.84.

Financial Health

In the three months ended September 29, Spirit Airlines Inc.’s quick ratio stood at 1.10, while its current ratio was 1.10, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending September 29 was 1.46, and the total debt-to-equity ratio was 1.61. On the profitability front, the trailing twelve-month gross margin is 16.40% percent. Based on annual data, SAVE earned $2.32 billion in gross profit and brought in $3.23 billion in revenue.

In Spirit Airlines Inc.’s quarter-end financial report for September 29, it reported total debt of $2.8 billion against cash and short-term investments of $106.01 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. SAVE’s revenue rose 52.31% to $987.56 million during the quarter, while net income inched up to $967.32 million. While analysts expected Spirit Airlines Inc. to report -$1.02 quarterly earnings, the actual figure was -$0.69 per share, beating the consensus estimate by 32.40%. During the quarter, the company generated -$129.32 million in EBITDA. The liabilities of Spirit Airlines Inc. were 6.69 billion at the end of its most recent quarter ended September 29, and its total debt was $5.09 billion. The value of shareholders’ equity is $108.62 million.

Technical Picture

This quick technical analysis looks at Spirit Airlines Inc.’s (SAVE) price momentum. With a historical volatility rate of 88.76%, the RSI 9-day stood at 23.80% on 13 May.

With respect to its five-day moving average, the current Spirit Airlines Inc. price is down by -13.98% percent or -$2.76. At present, SAVE shares trade -32.40% below its 20-day simple moving average and -20.73% percent below its 100-day simple moving average. However, the stock is currently trading approximately -28.72% below its SMA50 and -40.08% below its SMA200.

Stochastic coefficient K was 7.43% and Stochastic coefficient D was 7.50%, while ATR was 1.29. Given the Stochastic reading of 10.94% for the 14-day period, the RSI (14) reading has been calculated as 27.56%. As of today, the MACD Oscillator reading stands at -1.93, while the 14-day reading stands at -3.78.

Analyst Ratings

Spirit Airlines Inc. downgraded its rating on Spirit Airlines Inc. (NYSE: SAVE) to an In-line in a note to investors on April 06, 2022. The analysts firm previously had an Outperform rating on the stock.Spirit Airlines Inc. (SAVE) has been rated Overweight by analysts. According to 0 brokerage firms, SAVE is a sell, and 7 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Spirit Airlines Inc. stock as buy, with 3 recommending it as overweight.

With a median target price of $25.00, the current consensus forecast for the stock is $22.00 – $40.00. Based on these forecasts, analysts predict Spirit Airlines Inc. (SAVE) will achieve an average price target of $28.14.


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