Sun Country Airlines Holdings, Inc. (NASDAQ: SNCY – Get Rating) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 2,560,000 shares, an increase of 22.5% from the August 15th total of 2,090,000 shares. Based on an average daily volume of 700,700 shares, the days-to-cover ratio is presently 3.7 days. Currently, 7.8% of the company’s stock are short sold.
Institutional Investors Weigh In On Sun Country Airlines
Several institutional investors have recently modified their holdings of the business. Advisor Group Holdings Inc. boosted its position 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 valued at $ 61,000 after buying an additional 550 shares during the last quarter. Qube Research & Technologies Ltd boosted its position in Sun Country Airlines by 2.5% in the first quarter. Qube Research & Technologies Ltd now owns 25,856 shares of the company’s stock worth $ 677,000 after purchasing an additional 636 shares during the last quarter. Sei Investments Co. boosted its position in Sun Country Airlines by 1.1% in the first quarter. Sei Investments Co. now owns 95,034 shares of the company’s stock worth $ 2,488,000 after purchasing an additional 1,004 shares during the last quarter. CWM LLC purchased a new position in Sun Country Airlines in the second quarter worth about $ 30,000. Finally, Legal & General Group Plc boosted its position in Sun Country Airlines by 21.7% in the second quarter. Legal & General Group Plc now owns 10,533 shares of the company’s stock worth $ 193,000 after purchasing an additional 1,881 shares during the last quarter.
Sun Country Airlines Trading Down 6.9%
Sun Country Airlines stock opened at $ 17.02 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.10 and a quick ratio of 1.08. Sun Country Airlines has a one year low of $ 16.98 and a one year high of $ 36.87. The stock has a market capitalization of $ 989.54 million, a PE ratio of 81.05 and a beta of 0.51. The business’s fifty day moving average is $ 19.51 and its 200 day moving average is $ 21.98.
Sun Country Airlines (NASDAQ: SNCY – Get Rating) last released its quarterly earnings data on Monday, August 8th. The company reported ($ 0.03) EPS for the quarter, missing the consensus estimate of $ 0.13 by ($ 0.16). Sun Country Airlines had a net margin of 1.64% and a return on equity of 6.26%. The business had revenue of $ 219.10 million for the quarter, compared to analysts’ expectations of $ 216.69 million. During the same period last year, the business earned $ 0.07 earnings per share. The company’s quarterly revenue was up 46.8% on a year-over-year basis. On average, sell-side analysts predict that Sun Country Airlines will post 0.3 EPS for the current year.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Sun Country Airlines from $ 37.00 to $ 29.00 and set a “buy” rating for the company in a report on Wednesday, August 10th. Barclays decreased their price objective on Sun Country Airlines from $ 35.00 to $ 26.00 and set an “overweight” rating for the company in a report on Tuesday, July 12th. Susquehanna Bancshares decreased their price objective on Sun Country Airlines from $ 30.00 to $ 23.00 and set a “positive” rating for the company in a report on Tuesday, July 12th. Morgan Stanley decreased their price objective on Sun Country Airlines from $ 35.00 to $ 28.00 and set an “equal weight” rating for the company in a report on Wednesday, August 24th. Finally, Evercore ISI cut their target price on Sun Country Airlines to $ 26.00 in a research note on Monday, August 15th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $ 25.63.
Sun Country Airlines Company Profile
Sun Country Airlines Holdings, Inc, an air carrier company, provides scheduled passenger, air cargo, charter air transportation, and related services in the United States, Latin America, and internationally. As of December 31, 2021, the company operated a fleet of 48 aircraft, including 36 passenger and 12 cargo aircraft.
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