Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY – Get Free Report) traded down 7.9% on Friday following a dissappointing earnings announcement. The company traded as low as $18.26 and last traded at $18.78. 63,188 shares traded hands during trading, a decline of 86% from the average session volume of 441,543 shares. The stock had previously closed at $20.39.
The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.01). Sun Country Airlines had a return on equity of 10.68% and a net margin of 5.44%. The business had revenue of $261.10 million for the quarter, compared to analysts’ expectations of $258.81 million. During the same period in the previous year, the business posted ($0.03) earnings per share. The company’s revenue for the quarter was up 19.2% on a year-over-year basis.
Analyst Ratings Changes
Several brokerages have recently weighed in on SNCY. TheStreet raised shares of Sun Country Airlines from a “d” rating to a “c-” rating in a report on Wednesday, May 3rd. Barclays lifted their target price on shares of Sun Country Airlines from $27.00 to $28.00 in a report on Thursday, July 13th. Finally, Morgan Stanley lifted their target price on shares of Sun Country Airlines from $26.00 to $27.00 in a report on Thursday, July 6th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $24.00.
Insider Activity at Sun Country Airlines
In related news, CFO David M. Davis sold 1,472 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $22.44, for a total value of $33,031.68. Following the completion of the sale, the chief financial officer now owns 31,490 shares in the company, valued at $706,635.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Sun Country Airlines news, CFO David M. Davis sold 1,472 shares of Sun Country Airlines stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $22.44, for a total transaction of $33,031.68. Following the completion of the transaction, the chief financial officer now owns 31,490 shares in the company, valued at $706,635.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP William Trousdale sold 2,500 shares of Sun Country Airlines stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $18.23, for a total transaction of $45,575.00. Following the transaction, the vice president now owns 14,431 shares of the company’s stock, valued at approximately $263,077.13. The disclosure for this sale can be found here. Insiders sold 3,508,249 shares of company stock worth $70,809,515 over the last 90 days. Company insiders own 3.50% of the company’s stock.
Hedge Funds Weigh In On Sun Country Airlines
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. purchased a new stake in shares of Sun Country Airlines during the first quarter worth about $253,000. Advisor Group Holdings Inc. grew its holdings in shares of Sun Country Airlines by 31.0% during the first quarter. Advisor Group Holdings Inc. now owns 2,323 shares of the company’s stock worth $61,000 after buying an additional 550 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Sun Country Airlines by 4.6% during the first quarter. Bank of New York Mellon Corp now owns 123,755 shares of the company’s stock worth $3,240,000 after buying an additional 5,496 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of Sun Country Airlines by 55.4% during the first quarter. MetLife Investment Management LLC now owns 19,144 shares of the company’s stock worth $501,000 after buying an additional 6,826 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Sun Country Airlines by 18.8% during the first quarter. Rhumbline Advisers now owns 32,476 shares of the company’s stock worth $850,000 after buying an additional 5,128 shares in the last quarter.
Sun Country Airlines Trading Down 12.6 %
The firm has a market capitalization of $1.00 billion, a PE ratio of 20.66 and a beta of 1.53. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 1.10. The business’s fifty day moving average price is $20.93 and its 200 day moving average price is $19.85.
About Sun Country Airlines
Sun Country Airlines Holdings, Inc, an air carrier company, operates scheduled service, charter, and cargo businesses in the United States, Latin America, and internationally. The company serves leisure and visiting friends and relatives passengers, and charter customers; and provides crew, maintenance, and insurance services to amazon.com services, Inc with flights to destinations in Canada, Mexico, Central America, and the Caribbean.