Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) Sees Significant Growth in Short Interest

Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totalling 5,030,000 shares, a growth of 18.9% from the August 15th total of 4,230,000 shares. Based on an average trading volume of 635,400 shares, the short-interest ratio is currently 7.9 days. Approximately 12.3% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SNCY. Susquehanna reduced their price target on Sun Country Airlines from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. TD Cowen increased their price target on Sun Country Airlines from $17.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $21.00 price objective on shares of Sun Country Airlines in a report on Thursday, June 20th.

Insider Activity

In other Sun Country Airlines news, VP John Gyurci sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $11.30, for a total value of $33,900.00. Following the completion of the sale, the vice president now directly owns 14,407 shares in the company, valued at $162,799.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Grant Whitney sold 5,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $12.42, for a total value of $62,100.00. Following the completion of the sale, the senior vice president now owns 26,355 shares in the company, valued at $327,329.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $33,900.00. Following the sale, the vice president now owns 14,407 shares of the company’s stock, valued at $162,799.10. The disclosure for this sale can be found here. Insiders sold 18,076 shares of company stock worth $220,391 over the last three months. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Sun Country Airlines

Several hedge funds have recently bought and sold shares of the company. Par Capital Management Inc. grew its position in shares of Sun Country Airlines by 95.7% in the 4th quarter. Par Capital Management Inc. now owns 2,767,000 shares of the company’s stock valued at $43,525,000 after purchasing an additional 1,352,800 shares during the period. Ghisallo Capital Management LLC bought a new stake in shares of Sun Country Airlines during the fourth quarter worth $7,078,000. Dana Investment Advisors Inc. raised its holdings in shares of Sun Country Airlines by 114.5% during the second quarter. Dana Investment Advisors Inc. now owns 808,283 shares of the company’s stock worth $10,152,000 after acquiring an additional 431,515 shares during the period. LSV Asset Management lifted its position in Sun Country Airlines by 159.9% in the 2nd quarter. LSV Asset Management now owns 656,088 shares of the company’s stock valued at $8,240,000 after acquiring an additional 403,630 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Sun Country Airlines by 213.2% in the 2nd quarter. AQR Capital Management LLC now owns 516,269 shares of the company’s stock worth $6,484,000 after purchasing an additional 351,421 shares during the period.

Sun Country Airlines Price Performance

Shares of SNCY stock traded up $0.20 during mid-day trading on Monday, reaching $11.17. The company’s stock had a trading volume of 101,040 shares, compared to its average volume of 612,863. The company has a market cap of $589.89 million, a P/E ratio of 8.99, a PEG ratio of 0.60 and a beta of 1.54. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.56 and a current ratio of 0.58. Sun Country Airlines has a 1-year low of $9.22 and a 1-year high of $17.56. The firm’s 50-day moving average is $11.21 and its two-hundred day moving average is $12.21.

Sun Country Airlines (NASDAQ:SNCY) last announced its earnings results on Thursday, August 1st. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. Sun Country Airlines had a return on equity of 10.34% and a net margin of 4.75%. The business had revenue of $254.40 million for the quarter, compared to the consensus estimate of $255.59 million. During the same period in the previous year, the business earned $0.40 EPS. Sun Country Airlines’s revenue was down 2.6% compared to the same quarter last year. On average, research analysts predict that Sun Country Airlines will post 0.84 earnings per share for the current year.

Sun Country Airlines Company Profile

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.