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

Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $16.63, but opened at $17.51. Sun Country Airlines shares last traded at $16.74, with a volume of 93,092 shares.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wolfe Research upgraded Sun Country Airlines from a “peer perform” rating to an “outperform” rating and set a $14.00 price objective on the stock in a research note on Tuesday, October 8th. JPMorgan Chase & Co. initiated coverage on shares of Sun Country Airlines in a report on Wednesday. They issued an “overweight” rating and a $23.00 target price on the stock. Susquehanna lifted their price target on shares of Sun Country Airlines from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Barclays lifted their price objective on Sun Country Airlines from $20.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $17.00 price objective on shares of Sun Country Airlines in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Sun Country Airlines has a consensus rating of “Moderate Buy” and an average target price of $19.29.

Sun Country Airlines Price Performance

The business has a fifty day moving average of $14.94 and a two-hundred day moving average of $12.79. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.57 and a current ratio of 0.59. The firm has a market capitalization of $888.49 million, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 0.36 and a beta of 1.44.

Sun Country Airlines (NASDAQ:SNCY) last announced its earnings results on Wednesday, October 30th. The company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. The business had revenue of $249.50 million during the quarter, compared to the consensus estimate of $250.30 million. Sun Country Airlines had a net margin of 4.25% and a return on equity of 9.00%. Sun Country Airlines’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 EPS. As a group, research analysts predict that Sun Country Airlines Holdings, Inc. will post 0.93 EPS for the current fiscal year.

Insider Transactions at Sun Country Airlines

In related news, CFO David M. Davis sold 2,760 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $15.93, for a total transaction of $43,966.80. Following the transaction, the chief financial officer now directly owns 32,260 shares in the company, valued at approximately $513,901.80. The trade was a 7.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Grant Whitney sold 3,912 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $15.88, for a total value of $62,122.56. Following the completion of the transaction, the senior vice president now directly owns 16,455 shares of the company’s stock, valued at approximately $261,305.40. This represents a 19.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,458 shares of company stock valued at $1,568,660. Corporate insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Pacer Advisors Inc. purchased a new position in shares of Sun Country Airlines in the 4th quarter worth about $30,841,000. Dana Investment Advisors Inc. boosted its stake in Sun Country Airlines by 114.5% in the second quarter. Dana Investment Advisors Inc. now owns 808,283 shares of the company’s stock valued at $10,152,000 after acquiring an additional 431,515 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Sun Country Airlines by 213.2% during the 2nd quarter. AQR Capital Management LLC now owns 516,269 shares of the company’s stock valued at $6,484,000 after acquiring an additional 351,421 shares during the period. U S Global Investors Inc. increased its stake in shares of Sun Country Airlines by 14.2% during the 3rd quarter. U S Global Investors Inc. now owns 2,705,789 shares of the company’s stock worth $30,332,000 after purchasing an additional 336,086 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Sun Country Airlines in the 3rd quarter worth approximately $2,980,000.

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.