Sun Country Airlines (NASDAQ:SNCY) Shares Gap Up – Here’s Why

Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY)’s share price gapped up before the market opened on Friday . The stock had previously closed at $13.91, but opened at $14.58. Sun Country Airlines shares last traded at $14.10, with a volume of 98,172 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Barclays boosted their price target on Sun Country Airlines from $20.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Wolfe Research upgraded Sun Country Airlines from a “peer perform” rating to an “outperform” rating and set a $14.00 price target for the company in a research note on Tuesday, October 8th. The Goldman Sachs Group restated a “neutral” rating and issued a $17.00 price target on shares of Sun Country Airlines in a report on Friday, November 15th. Finally, Susquehanna increased their price objective on shares of Sun Country Airlines from $11.00 to $14.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.33.

Sun Country Airlines Stock Performance

The stock has a 50-day moving average price of $12.44 and a 200-day moving average price of $11.60. The firm has a market capitalization of $730.57 million, a PE ratio of 17.17, a price-to-earnings-growth ratio of 0.62 and a beta of 1.48. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.59 and a quick ratio of 0.57.

Sun Country Airlines (NASDAQ:SNCY) last issued its earnings results on Wednesday, October 30th. The company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. Sun Country Airlines had a net margin of 4.25% and a return on equity of 9.00%. The company had revenue of $249.50 million for the quarter, compared to analysts’ expectations of $250.30 million. During the same period in the prior year, the company earned $0.14 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. On average, research analysts expect that Sun Country Airlines Holdings, Inc. will post 0.98 EPS for the current fiscal year.

Insider Buying and Selling at Sun Country Airlines

In related news, VP John Gyurci sold 3,000 shares of Sun Country Airlines stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $11.30, for a total transaction of $33,900.00. Following the sale, the vice president now directly owns 14,407 shares in the company, valued at $162,799.10. The trade was a 17.23 % 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, CEO Jude Bricker sold 37,817 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $15.29, for a total value of $578,221.93. Following the completion of the sale, the chief executive officer now directly owns 82,895 shares in the company, valued at $1,267,464.55. This represents a 31.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,720 shares of company stock worth $694,763 over the last ninety days. Company insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SNCY. Barclays PLC boosted its stake in shares of Sun Country Airlines by 260.8% during the 3rd quarter. Barclays PLC now owns 117,457 shares of the company’s stock worth $1,316,000 after acquiring an additional 84,906 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Sun Country Airlines in the 3rd quarter valued at $292,000. Weiss Asset Management LP increased its stake in Sun Country Airlines by 7.0% in the 3rd quarter. Weiss Asset Management LP now owns 577,337 shares of the company’s stock worth $6,472,000 after purchasing an additional 37,689 shares in the last quarter. State Street Corp raised its holdings in Sun Country Airlines by 3.3% during the 3rd quarter. State Street Corp now owns 1,580,834 shares of the company’s stock worth $17,721,000 after buying an additional 51,224 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC purchased a new stake in Sun Country Airlines during the third quarter valued at about $2,980,000.

Sun Country Airlines Company Profile

Sun Country Airlines Holdings, Inc, an air carrier company, operates scheduled passenger, air cargo, charter air transportation, and related services in the United States, Latin America, and internationally. It operates through two segments, Passenger and Cargo. The company also provides crew, maintenance, and insurance services through ad hoc, repeat, short-term, and long-term service contracts; and loyalty program rewards.