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

Shares of Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) gapped up prior to trading 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.

Analyst Ratings Changes

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

Sun Country Airlines Stock Performance

The stock has a market cap of $726.87 million, a price-to-earnings ratio of 16.95, a PEG ratio of 0.64 and a beta of 1.48. 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 company’s 50 day simple moving average is $12.49 and its 200 day simple moving average is $11.60.

Sun Country Airlines (NASDAQ:SNCY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.06 earnings per share for the quarter, meeting the consensus estimate 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 during the quarter, compared to analyst estimates of $250.30 million. During the same quarter last year, the firm posted $0.14 EPS. The business’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities research analysts anticipate that Sun Country Airlines Holdings, Inc. will post 0.98 earnings per share for the current year.

Insider Activity

In other Sun Country Airlines news, CFO David M. Davis sold 2,115 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $14.51, for a total value of $30,688.65. Following the completion of the transaction, the chief financial officer now directly owns 36,158 shares in the company, valued at $524,652.58. This trade represents a 5.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP John Gyurci sold 3,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $11.30, for a total transaction of $33,900.00. Following the completion of the transaction, the vice president now owns 14,407 shares of the company’s stock, valued at approximately $162,799.10. The trade was a 17.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,720 shares of company stock worth $694,763. Corporate insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SNCY. Farther Finance Advisors LLC lifted its position in shares of Sun Country Airlines by 76.9% in the third quarter. Farther Finance Advisors LLC now owns 2,300 shares of the company’s stock worth $26,000 after purchasing an additional 1,000 shares in the last quarter. CWM LLC lifted its position in shares of Sun Country Airlines by 1,660.9% in the second quarter. CWM LLC now owns 2,659 shares of the company’s stock worth $33,000 after purchasing an additional 2,508 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Sun Country Airlines in the second quarter worth approximately $40,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Sun Country Airlines in the first quarter worth approximately $66,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Sun Country Airlines in the second quarter worth approximately $80,000.

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.