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SAVE

Spirit Airlines, Inc.

https://www.spirit.com

Industry

Airlines, Airports & Air Services

Spirit Airlines, Inc. provides airline services. It serves 85 destinations in 16 countries in the United States, Latin America, and the Caribbean. As of December 31, 2021, the company had a fleet of 173 Airbus single-aisle aircraft. It sells tickets through its call centers and airport ticket counters, as well as online through spirit.com; and through various third parties, including online, traditional travel agents, and electronic global distribution systems. The company was formerly known as Clippert Trucking Company and changed its name to Spirit Airlines, Inc. in 1992. Spirit Airlines, Inc. was founded in 1964 and is headquartered in Miramar, Florida.

Open

2.73

Mkt cap

298M

Volume

High

2.80

P/E Ratio

-0.44

52-wk high

17.02

Low

2.65

Div yield

0.15

52-wk low

1.40

Spirit Airlines (NYSE:SAVE) has seen a 14.78% increase in its short percent of float since the last report, reaching 19.73% of all shares available for trading. With 21.42 million shares sold short, it would take about 6.16 days for traders to cover their positions. This rise in short interest indicates a more bearish market sentiment towards SAVE, although it doesn't necessarily predict a price drop. Compared to its peers, Spirit Airlines has a higher short interest, with the average being 7.93%.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 7:15 pm

In Tuesday's intraday session, several industrials stocks experienced significant movements. Agrify, Frontier Group Holdings, Energy Vault Holdings, EHang Holdings, ESS Tech, and Spirit Airlines saw their shares rise, with increases ranging from 11.83% to 26.5%. Conversely, Sunworks, Compx Intl, Pineapple Energy, Symbotic, Pixie Dust Technologies, and Erayak Power Solution Gr witnessed declines in their stock prices, with decreases ranging from 18.75% to 58.9%. Notably, Frontier Group Holdings and Symbotic released their Q4 and Q1 earnings, respectively.

Portfolio Pulse from Benzinga Insights

February 06, 2024 | 5:31 pm

FAA Administrator Whitaker is scheduled to meet with airline CEOs on Wednesday to discuss information sharing, according to Reuters citing the agency and airlines. This meeting could impact various aspects of the aviation industry, including safety protocols, operational efficiency, and regulatory compliance.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 4:00 pm

The U.S. Federal Aviation Administration (FAA) has recommended to Congress not to raise the mandatory retirement age for airline pilots from 65 to 67 until further research is conducted, according to a letter cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 8:15 pm

A U.S. Appeals Court has established an expedited schedule for the appeal by JetBlue and Spirit Airlines against the rejection of their merger. This move indicates a swift progression through the legal system, potentially impacting the future operations and strategic positioning of both airlines.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 4:44 pm

The Biden Administration's stance on mergers has led to blocked deals, including JetBlue's (JBLU) acquisition of Spirit Airlines (SAVE), which is now facing bankruptcy. Spirit's value has plummeted from $3.8 billion to under $1 billion. The blocked Adobe (ADBE) and Figma merger also reflects regulatory challenges. These developments have implications for merger arbitrage investors, the banking sector's revenue from M&A, and the companies involved. While JetBlue's stock rose 4% after the blocked merger, Adobe's shares fell 14% on the day of announcing its Figma acquisition but have since recovered.

Portfolio Pulse from Caleb Naysmith

January 31, 2024 | 4:30 pm

JetBlue Airways Corporation's CEO, Robin Hayes, expressed disagreement with a court ruling that blocked the proposed $3.8 billion merger with Spirit Airlines, Inc. The companies are seeking an expedited appeal before the merger agreement's outside closing date of July 24. JetBlue reported its Q4 earnings and reiterated commitment to the Spirit deal terms. JetBlue's stock (JBLU) closed down 4.73%, while Spirit's stock (SAVE) closed up 5.8% on Thursday.

Portfolio Pulse from Erica Kollmann

January 30, 2024 | 9:14 pm

Spirit Airlines' stock price moved higher following the circulation of a Seeking Alpha article discussing JetBlue and Spirit Airlines' filing for an expedited appeal after their merger deal was blocked. The companies are seeking a quicker resolution to the regulatory challenge that is currently impeding their merger.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 2:01 pm

The article highlights three industrial stocks that are considered oversold based on their Relative Strength Index (RSI) values, suggesting potential for growth this quarter. Agrify Corporation (AGFY) announced a sales agreement with a California-based cannabis operator but saw a 33% stock decline over five days. SES AI Corporation (SES) reported a narrower-than-expected Q3 loss and is nearing a significant milestone with its automotive B-sample for Li-Metal batteries, despite an 18% stock decline over five days. Spirit Airlines (SAVE) experienced a 62% stock decline over the past month after JetBlue Airways disclosed issues with complying with provisions of their merger deal.

Portfolio Pulse from Avi Kapoor

January 29, 2024 | 12:33 pm

Barron's weekend stock coverage includes Intel's 12% drop after weak guidance, Flutter Entertainment's NYSE debut and its implications for DraftKings, Tesla's minimal rebound and expected short-term weakness, Coinbase's stock rise due to an Oppenheimer upgrade, and Spirit Airlines' stock tumble as JetBlue hints at walking away from their merger. Analysts downgraded Intel on AI competitiveness concerns, DraftKings is expected to withstand Flutter's entry, Tesla is subject to the 'three-day rule' post-underperformance, Coinbase is seen as resilient despite SEC challenges, and Spirit faces uncertainty over its merger with JetBlue.

Portfolio Pulse from Justin Chan

January 28, 2024 | 12:37 am

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