Sun Country Airlines (NASDAQ:SNCY) Sees Large Volume Increase – Time to Buy?

Shares of Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) saw strong trading volume on Monday . 529,868 shares traded hands during mid-day trading, a decline of 28% from the previous session’s volume of 736,750 shares.The stock last traded at $16.38 and had previously closed at $16.50.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SNCY. Susquehanna upped their price target on shares of Sun Country Airlines from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $17.00 target price on shares of Sun Country Airlines in a research note on Friday, November 15th. Barclays raised their price target on Sun Country Airlines from $20.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. started coverage on shares of Sun Country Airlines in a report on Wednesday, January 22nd. They set an “overweight” rating and a $23.00 price objective for the company. Two research 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.29.

Sun Country Airlines Stock Performance

The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 0.86. The firm has a 50 day moving average price of $15.65 and a 200 day moving average price of $13.23. The stock has a market cap of $903.69 million, a PE ratio of 17.97, a price-to-earnings-growth ratio of 0.37 and a beta of 1.46.

Sun Country Airlines (NASDAQ:SNCY) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.06. The company had revenue of $260.40 million for the quarter, compared to analyst estimates of $258.04 million. Sun Country Airlines had a net margin of 4.92% and a return on equity of 10.23%. Sun Country Airlines’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company posted $0.12 earnings per share. As a group, research analysts forecast that Sun Country Airlines Holdings, Inc. will post 1.96 earnings per share for the current year.

Insider Transactions at Sun Country Airlines

In other Sun Country Airlines news, SVP Erin Rose Neale sold 1,738 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $14.88, for a total value of $25,861.44. Following the completion of the sale, the senior vice president now directly owns 30,142 shares in the company, valued at approximately $448,512.96. This trade represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John Gyurci sold 27,482 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $17.09, for a total transaction of $469,667.38. Following the sale, the vice president now directly owns 11,618 shares in the company, valued at approximately $198,551.62. This represents a 70.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 242,279 shares of company stock valued at $4,031,056. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Sun Country Airlines

Several institutional investors and hedge funds have recently made changes to their positions in SNCY. Farther Finance Advisors LLC increased its position 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 acquiring an additional 1,000 shares during the period. The Manufacturers Life Insurance Company increased its holdings 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 purchasing an additional 1,087 shares during the period. New York State Teachers Retirement System increased its holdings in shares of Sun Country Airlines by 11.9% in the fourth quarter. New York State Teachers Retirement System now owns 14,168 shares of the company’s stock valued at $207,000 after purchasing an additional 1,505 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Sun Country Airlines by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 356,033 shares of the company’s stock worth $5,191,000 after purchasing an additional 1,932 shares during the last quarter. Finally, Creative Planning lifted its holdings in shares of Sun Country Airlines by 36.0% during the third quarter. Creative Planning now owns 18,734 shares of the company’s stock worth $210,000 after purchasing an additional 4,954 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.