Short Interest in Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) Expands By 24.7%

Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 2,930,000 shares, an increase of 24.7% from the June 15th total of 2,350,000 shares. Approximately 7.2% of the company’s shares are sold short. Based on an average daily volume of 624,600 shares, the days-to-cover ratio is presently 4.7 days.

Insiders Place Their Bets

In related news, CEO Jude Bricker sold 2,086 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $12.62, for a total value of $26,325.32. Following the transaction, the chief executive officer now owns 122,905 shares in the company, valued at $1,551,061.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Sun Country Airlines news, SVP Grant Whitney sold 5,888 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $10.68, for a total transaction of $62,883.84. Following the transaction, the senior vice president now directly owns 26,355 shares in the company, valued at approximately $281,471.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jude Bricker sold 2,086 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,551,061.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,964 shares of company stock worth $189,075. 3.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. CWM LLC grew its position in Sun Country Airlines by 1,660.9% in the 2nd quarter. CWM LLC now owns 2,659 shares of the company’s stock worth $33,000 after purchasing an additional 2,508 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Sun Country Airlines by 39.0% in the 4th quarter. Assetmark Inc. now owns 3,314 shares of the company’s stock worth $52,000 after buying an additional 929 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Sun Country Airlines in the first quarter valued at approximately $66,000. Lazard Asset Management LLC increased its position in shares of Sun Country Airlines by 310.0% during the first quarter. Lazard Asset Management LLC now owns 10,341 shares of the company’s stock valued at $155,000 after acquiring an additional 7,819 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in Sun Country Airlines during the first quarter worth $155,000.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. TD Cowen raised their price target on shares of Sun Country Airlines from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Morgan Stanley restated an “overweight” rating and issued a $21.00 target price on shares of Sun Country Airlines in a research note on Thursday, June 20th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.67.

Sun Country Airlines Stock Down 1.4 %

SNCY stock traded down $0.18 during midday trading on Friday, reaching $12.42. 378,879 shares of the company’s stock traded hands, compared to its average volume of 787,008. Sun Country Airlines has a 52 week low of $9.22 and a 52 week high of $23.80. The company has a market cap of $653.42 million, a price-to-earnings ratio of 10.18, a P/E/G ratio of 0.53 and a beta of 1.56. The firm’s fifty day moving average price is $11.24 and its 200-day moving average price is $13.34. The company has a quick ratio of 0.59, a current ratio of 0.61 and a debt-to-equity ratio of 1.08.

Sun Country Airlines (NASDAQ:SNCY) last posted its earnings results on Monday, May 6th. The company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.02). The business had revenue of $311.50 million for the quarter, compared to the consensus estimate of $316.23 million. Sun Country Airlines had a return on equity of 14.35% and a net margin of 6.48%. The company’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 earnings per share. As a group, sell-side analysts forecast that Sun Country Airlines will post 1.06 earnings per share for the current fiscal 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.