Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) Short Interest Up 22.9% in July

Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) saw a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 3,600,000 shares, a growth of 22.9% from the June 30th total of 2,930,000 shares. Based on an average daily volume of 627,300 shares, the short-interest ratio is presently 5.7 days. Currently, 8.9% of the shares of the company are sold short.

Insider Transactions at Sun Country Airlines

In other news, SVP Grant Whitney sold 5,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $12.42, for a total transaction of $62,100.00. Following the transaction, the senior vice president now directly owns 26,355 shares in the company, valued at approximately $327,329.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Grant Whitney sold 5,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $12.42, for a total value of $62,100.00. Following the transaction, the senior vice president now owns 26,355 shares in the company, valued at approximately $327,329.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 disclosure for this sale can be found here. Insiders have sold 15,964 shares of company stock worth $189,075 in the last ninety days. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Sun Country Airlines

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC increased 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 valued at $33,000 after acquiring an additional 2,508 shares during the period. Innealta Capital LLC bought a new position in Sun Country Airlines during the second quarter worth $40,000. Assetmark Inc. boosted its stake in Sun Country Airlines by 39.0% during the fourth quarter. Assetmark Inc. now owns 3,314 shares of the company’s stock worth $52,000 after acquiring an additional 929 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in Sun Country Airlines during the first quarter worth $66,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Sun Country Airlines during the second quarter worth $80,000.

Wall Street Analysts Forecast Growth

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

Sun Country Airlines Price Performance

Shares of Sun Country Airlines stock traded down $0.35 on Monday, reaching $12.44. 336,154 shares of the stock were exchanged, compared to its average volume of 618,076. The firm’s 50 day moving average is $11.45 and its 200-day moving average is $13.13. Sun Country Airlines has a one year low of $9.22 and a one year high of $21.69. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.59 and a current ratio of 0.61. The firm has a market cap of $654.47 million, a PE ratio of 10.20, a P/E/G ratio of 0.57 and a beta of 1.56.

Sun Country Airlines (NASDAQ:SNCY) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.02). The firm 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 business’s revenue was up 5.9% on a year-over-year basis. During the same period last year, the company posted $0.68 EPS. As a group, analysts anticipate that Sun Country Airlines will post 1.01 EPS 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.