Sun Country Airlines (NASDAQ:SNCY) Shares Down 11.4% on Insider Selling

Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY)’s share price was down 11.4% on Monday after an insider sold shares in the company. The stock traded as low as $9.62 and last traded at $9.77. Approximately 60,457 shares changed hands during trading, a decline of 90% from the average daily volume of 618,078 shares. The stock had previously closed at $11.03.

Specifically, CEO Jude Bricker sold 2,086 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $12.62, for a total transaction of $26,325.32. Following the completion of the transaction, the chief executive officer now owns 122,905 shares in the company, valued at approximately $1,551,061.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Grant Whitney sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $12.06, for a total value of $60,300.00. Following the transaction, the senior vice president now owns 25,068 shares in the company, valued at $302,320.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jude Bricker sold 2,086 shares of Sun Country Airlines stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $12.62, for a total transaction of $26,325.32. Following the sale, the chief executive officer now directly owns 122,905 shares in the company, valued at approximately $1,551,061.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,964 shares of company stock valued at $249,375. 3.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SNCY. TD Cowen upped their price objective on shares of Sun Country Airlines from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Morgan Stanley restated an “overweight” rating and issued a $21.00 price target on shares of Sun Country Airlines in a research report on Thursday, June 20th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.67.

Sun Country Airlines Stock Down 7.5 %

The business’s 50 day simple moving average is $11.65 and its 200 day simple moving average is $13.08. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.61 and a quick ratio of 0.59. The company has a market capitalization of $522.42 million, a PE ratio of 8.91, a P/E/G ratio of 0.49 and a beta of 1.57.

Sun Country Airlines (NASDAQ:SNCY) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. The firm had revenue of $254.40 million for the quarter, compared to analyst estimates of $255.59 million. Sun Country Airlines had a net margin of 4.75% and a return on equity of 10.44%. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 EPS. As a group, analysts anticipate that Sun Country Airlines Holdings, Inc. will post 0.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sun Country Airlines

Hedge funds have recently modified their holdings of the business. CWM LLC lifted its position in Sun Country Airlines by 1,660.9% in the second quarter. CWM LLC now owns 2,659 shares of the company’s stock valued at $33,000 after buying an additional 2,508 shares during the last quarter. Innealta Capital LLC acquired a new stake in Sun Country Airlines in the 2nd quarter valued at approximately $40,000. Assetmark Inc. raised its position in Sun Country Airlines by 39.0% in the fourth quarter. Assetmark Inc. now owns 3,314 shares of the company’s stock valued at $52,000 after purchasing an additional 929 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in Sun Country Airlines during the first quarter worth $66,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Sun Country Airlines during the second quarter worth $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.