Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) Short Interest Up 33.6% in February

Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) saw a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 5,890,000 shares, an increase of 33.6% from the February 13th total of 4,410,000 shares. Based on an average daily volume of 825,700 shares, the days-to-cover ratio is presently 7.1 days. Currently, 12.6% of the company’s stock are short sold.

Analyst Ratings Changes

A number of analysts have commented on SNCY shares. JPMorgan Chase & Co. began coverage on Sun Country Airlines in a report on Wednesday, January 22nd. They issued an “overweight” rating and a $23.00 target price for the company. Susquehanna raised their price target on Sun Country Airlines from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Two 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 a consensus price target of $19.29.

Sun Country Airlines Stock Performance

NASDAQ SNCY traded down $0.29 on Tuesday, hitting $13.24. 247,373 shares of the company traded hands, compared to its average volume of 699,445. The company has a market capitalization of $703.81 million, a price-to-earnings ratio of 13.93, a P/E/G ratio of 0.42 and a beta of 1.46. The company has a current ratio of 0.63, a quick ratio of 0.61 and a debt-to-equity ratio of 0.86. The business’s 50 day moving average price is $16.06 and its 200-day moving average price is $14.12. Sun Country Airlines has a 52-week low of $9.22 and a 52-week high of $18.59.

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

Insider Activity

In related news, VP John Gyurci sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $17.13, for a total transaction of $102,780.00. Following the completion of the transaction, the vice president now owns 11,618 shares of the company’s stock, valued at $199,016.34. This trade represents a 34.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David M. Davis sold 59,389 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $17.05, for a total value of $1,012,582.45. Following the transaction, the chief financial officer now directly owns 32,260 shares of the company’s stock, valued at approximately $550,033. This trade represents a 64.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 200,541 shares of company stock worth $3,380,795 in the last quarter. 4.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sun Country Airlines

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