Sun Country Airlines (NASDAQ:SNCY) Stock Price Up 5% – Here’s What Happened

Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) shot up 5% during mid-day trading on Tuesday . The company traded as high as $10.19 and last traded at $10.16. 79,022 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 747,956 shares. The stock had previously closed at $9.68.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SNCY shares. Barclays decreased their price target on Sun Country Airlines from $24.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. initiated coverage on shares of Sun Country Airlines in a report on Wednesday, January 22nd. They set an “overweight” rating and a $23.00 target price on the stock. Finally, Susquehanna cut their price objective on Sun Country Airlines from $17.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.71.

Sun Country Airlines Trading Up 5.9 %

The company has a quick ratio of 0.61, a current ratio of 0.63 and a debt-to-equity ratio of 0.86. The firm’s 50-day simple moving average is $14.06 and its 200-day simple moving average is $14.20. The firm has a market capitalization of $544.87 million, a PE ratio of 10.79, a price-to-earnings-growth ratio of 0.42 and a beta of 1.55.

Sun Country Airlines (NASDAQ:SNCY) last announced its earnings results on Tuesday, February 4th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.06. Sun Country Airlines had a net margin of 4.92% and a return on equity of 10.23%. The firm had revenue of $260.40 million for the quarter, compared to analyst estimates of $258.04 million. During the same quarter in the previous year, the firm posted $0.12 EPS. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities analysts expect that Sun Country Airlines Holdings, Inc. will post 1.92 earnings per share for the current year.

Insider Activity at Sun Country Airlines

In related news, CFO David M. Davis sold 59,380 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $16.91, for a total value of $1,004,115.80. Following the completion of the sale, the chief financial officer now directly owns 32,260 shares in the company, valued at $545,516.60. This trade represents a 64.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John Gyurci sold 6,000 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $17.13, for a total transaction of $102,780.00. Following the transaction, the vice president now owns 11,618 shares in the company, valued at $199,016.34. The trade was a 34.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,415 shares of company stock worth $3,139,352. 4.60% of the stock is owned by company insiders.

Institutional Trading of Sun Country Airlines

A number of large investors have recently modified their holdings of the company. Pacer Advisors Inc. purchased a new position in Sun Country Airlines during the fourth quarter valued at approximately $30,841,000. Ameriprise Financial Inc. grew its stake in Sun Country Airlines by 34.0% in the fourth quarter. Ameriprise Financial Inc. now owns 3,118,136 shares of the company’s stock valued at $45,467,000 after purchasing an additional 791,669 shares during the last quarter. Driehaus Capital Management LLC bought a new position in Sun Country Airlines in the fourth quarter worth about $8,868,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Sun Country Airlines during the fourth quarter valued at about $6,898,000. Finally, Zimmer Partners LP bought a new stake in shares of Sun Country Airlines in the 4th quarter valued at about $6,261,000.

About Sun Country Airlines

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.