Sun Country Airlines (NASDAQ:SNCY) Shares Gap Up – What’s Next?

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 changing hands.

Wall Street Analysts Forecast Growth

SNCY has been the subject of a number of analyst reports. JPMorgan Chase & Co. assumed coverage on Sun Country Airlines in a research note on Wednesday. They set an “overweight” rating and a $23.00 price objective for the company. Barclays increased their price target on shares of Sun Country Airlines from $20.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. 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 research report on Tuesday, October 8th. Susquehanna increased their target price on shares of Sun Country Airlines from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $17.00 price target on shares of Sun Country Airlines in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sun Country Airlines has a consensus rating of “Moderate Buy” and a consensus target price of $19.29.

Sun Country Airlines Stock Performance

The company has a current ratio of 0.59, a quick ratio of 0.57 and a debt-to-equity ratio of 0.96. The company has a market cap of $881.98 million, a PE ratio of 20.57, a P/E/G ratio of 0.37 and a beta of 1.44. The firm’s 50-day simple moving average is $14.99 and its two-hundred day simple moving average is $12.85.

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

Insider Activity

In other news, CEO Jude Bricker sold 37,817 shares of Sun Country Airlines stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $15.29, for a total transaction of $578,221.93. Following the completion of the transaction, the chief executive officer now directly owns 82,895 shares of the company’s stock, valued at $1,267,464.55. The trade was a 31.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David M. Davis sold 59,380 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $16.91, for a total transaction of $1,004,115.80. Following the sale, the chief financial officer now owns 32,260 shares in the company, valued at approximately $545,516.60. This represents a 64.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 166,838 shares of company stock valued at $2,675,555 in the last ninety days. Insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Sun Country Airlines

Hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC increased its stake in shares of Sun Country Airlines by 76.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,300 shares of the company’s stock valued at $26,000 after purchasing an additional 1,000 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Sun Country Airlines by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 14,971 shares of the company’s stock valued at $188,000 after buying an additional 1,087 shares in the last quarter. Public Sector Pension Investment Board raised its stake in shares of Sun Country Airlines by 3.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 83,395 shares of the company’s stock worth $1,047,000 after buying an additional 2,512 shares during the period. Creative Planning lifted its position in shares of Sun Country Airlines by 36.0% during the 3rd quarter. Creative Planning now owns 18,734 shares of the company’s stock valued at $210,000 after buying an additional 4,954 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Sun Country Airlines by 29.3% in the 3rd quarter. Franklin Resources Inc. now owns 25,483 shares of the company’s stock valued at $269,000 after acquiring an additional 5,782 shares during the period.

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.