Norges Bank Makes New Investment in Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY)

Norges Bank acquired a new stake in Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 172,200 shares of the company’s stock, valued at approximately $2,511,000. Norges Bank owned about 0.33% of Sun Country Airlines as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. bought a new stake in Sun Country Airlines during the fourth quarter valued at $30,841,000. State Street Corp boosted its position in shares of Sun Country Airlines by 3.3% during the 3rd quarter. State Street Corp now owns 1,580,834 shares of the company’s stock valued at $17,721,000 after purchasing an additional 51,224 shares in the last quarter. American Century Companies Inc. grew its stake in Sun Country Airlines by 26.5% during the fourth quarter. American Century Companies Inc. now owns 1,395,948 shares of the company’s stock worth $20,353,000 after purchasing an additional 292,275 shares during the period. Assenagon Asset Management S.A. increased its holdings in Sun Country Airlines by 87.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 419,360 shares of the company’s stock worth $6,114,000 after purchasing an additional 196,094 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Sun Country Airlines by 44.3% in the fourth quarter. JPMorgan Chase & Co. now owns 370,890 shares of the company’s stock valued at $5,408,000 after buying an additional 113,789 shares during the period.

Insider Buying and Selling at Sun Country Airlines

In related news, CEO Jude Bricker sold 2,172 shares of Sun Country Airlines stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $12.02, for a total value of $26,107.44. Following the completion of the transaction, the chief executive officer now directly owns 127,589 shares in the company, valued at approximately $1,533,619.78. The trade was a 1.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David M. Davis sold 59,380 shares of Sun Country Airlines stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $16.91, for a total value of $1,004,115.80. Following the completion of the transaction, the chief financial officer now owns 32,260 shares of the company’s stock, valued at approximately $545,516.60. This trade represents a 64.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 190,327 shares of company stock valued at $3,201,474. Company insiders own 4.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SNCY has been the topic of several research analyst reports. Barclays cut their target price on shares of Sun Country Airlines from $24.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday. Susquehanna decreased their target price on Sun Country Airlines from $17.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Finally, JPMorgan Chase & Co. began coverage on Sun Country Airlines in a report on Wednesday, January 22nd. They issued an “overweight” rating and a $23.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.71.

Sun Country Airlines Stock Down 0.4 %

SNCY opened at $10.35 on Friday. Sun Country Airlines Holdings, Inc. has a fifty-two week low of $9.22 and a fifty-two week high of $18.59. The firm has a market capitalization of $550.19 million, a P/E ratio of 10.89, a PEG ratio of 0.42 and a beta of 1.55. The company’s 50-day moving average is $14.18 and its 200 day moving average is $14.18. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.63 and a quick ratio of 0.61.

Sun Country Airlines (NASDAQ:SNCY) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.06. Sun Country Airlines had a net margin of 4.92% and a return on equity of 10.23%. The company had revenue of $260.40 million during the quarter, compared to analyst estimates of $258.04 million. During the same quarter in the prior year, the business earned $0.12 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts expect that Sun Country Airlines Holdings, Inc. will post 1.92 earnings per share for the current fiscal year.

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.