Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) Sees Large Growth in Short Interest
by Kim Johansen · The Markets DailySun Country Airlines Holdings, Inc. (NASDAQ:SNCY – Get Free Report) was the recipient of a large growth in short interest in March. As of March 13th, there was short interest totaling 4,697,629 shares, a growth of 30.5% from the February 26th total of 3,601,082 shares. Approximately 9.3% of the shares of the company are sold short. Based on an average trading volume of 1,262,594 shares, the short-interest ratio is currently 3.7 days.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on SNCY. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $19.00 price objective (down from $22.00) on shares of Sun Country Airlines in a report on Tuesday, January 13th. TD Cowen restated a “hold” rating on shares of Sun Country Airlines in a research report on Tuesday, February 10th. Susquehanna raised Sun Country Airlines from a “neutral” rating to a “positive” rating and increased their price target for the company from $12.00 to $20.00 in a research note on Friday, January 9th. Wolfe Research cut Sun Country Airlines from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Sun Country Airlines in a research note on Monday, December 29th. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $20.00.
Check Out Our Latest Report on Sun Country Airlines
Sun Country Airlines Trading Down 2.6%
NASDAQ SNCY traded down $0.42 on Monday, hitting $15.87. 560,646 shares of the stock were exchanged, compared to its average volume of 1,409,469. The company’s 50-day moving average price is $18.35 and its two-hundred day moving average price is $15.02. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.82 and a quick ratio of 0.79. Sun Country Airlines has a 52-week low of $8.10 and a 52-week high of $22.29. The company has a market capitalization of $844.65 million, a price-to-earnings ratio of 16.53, a P/E/G ratio of 0.37 and a beta of 1.55.
Sun Country Airlines (NASDAQ:SNCY – Get Free Report) last issued its earnings results on Thursday, February 5th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. The business had revenue of $280.96 million during the quarter, compared to analysts’ expectations of $272.98 million. Sun Country Airlines had a return on equity of 8.92% and a net margin of 4.69%.Sun Country Airlines’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 earnings per share. Research analysts predict that Sun Country Airlines will post 1.92 EPS for the current year.
Insider Buying and Selling at Sun Country Airlines
In related news, SVP Erin Rose Neale sold 2,257 shares of Sun Country Airlines stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $17.53, for a total transaction of $39,565.21. Following the sale, the senior vice president directly owned 38,931 shares in the company, valued at $682,460.43. The trade was a 5.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Stephen Andrew Coley sold 2,052 shares of the stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $15.09, for a total transaction of $30,964.68. Following the completion of the transaction, the senior vice president owned 45,040 shares of the company’s stock, valued at $679,653.60. This represents a 4.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 20,755 shares of company stock valued at $334,558 in the last quarter. Corporate insiders own 5.00% of the company’s stock.
Institutional Trading of Sun Country Airlines
Hedge funds have recently made changes to their positions in the stock. Frontier Capital Management Co. LLC increased its stake in shares of Sun Country Airlines by 53.3% in the second quarter. Frontier Capital Management Co. LLC now owns 3,533,617 shares of the company’s stock worth $41,520,000 after acquiring an additional 1,228,721 shares during the last quarter. Vanguard Group Inc. boosted its position in Sun Country Airlines by 13.9% during the third quarter. Vanguard Group Inc. now owns 4,817,742 shares of the company’s stock valued at $56,898,000 after purchasing an additional 589,323 shares during the last quarter. Apollo Management Holdings L.P. purchased a new position in Sun Country Airlines in the second quarter valued at about $6,821,000. Arrowstreet Capital Limited Partnership increased its position in Sun Country Airlines by 91.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,217,131 shares of the company’s stock worth $14,301,000 after purchasing an additional 580,062 shares during the last quarter. Finally, SummitTX Capital L.P. increased its position in Sun Country Airlines by 180.6% in the 4th quarter. SummitTX Capital L.P. now owns 875,650 shares of the company’s stock worth $12,601,000 after purchasing an additional 563,631 shares during the last quarter.
Sun Country Airlines Company Profile
Sun Country Airlines (NASDAQ: SNCY) is an American ultra-low-cost carrier providing a blend of scheduled and charter passenger services. The carrier focuses on leisure markets, offering nonstop flights to sun and ski destinations across the United States, Mexico and the Caribbean. In addition to its scheduled network, Sun Country operates charter services for sports teams, corporate groups and tour operators, as well as seasonal cargo charters that support e-commerce peak periods.
Founded in 1982 and headquartered in Minneapolis, Minnesota, Sun Country has navigated multiple ownership and restructuring phases.