Rockefeller Capital Management L.P. Invests $190,000 in Spirit Airlines
July 8, 2023
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Rockefeller Capital Management L.P. recently announced that it has invested $190,000 in Spirit Airlines ($NYSE:SAVE), Inc., a low-cost passenger airline based in Miramar, Florida. The stock has been buoyed by the company’s strong financial performance and its commitment to providing customers with low fares and excellent customer service. The investment from Rockefeller Capital Management L.P. is also a reflection of the optimism surrounding the airline industry as a whole.
After facing major financial losses due to the global pandemic, airlines have begun to bounce back as travel restrictions ease up around the world and more people become vaccinated. With vaccines becoming more widely available and travel restrictions being relaxed, Spirit Airlines is well-positioned to capitalize on the increasing demand for air travel.
Price History
SPIRIT AIRLINES opened the day at $17.2 and closed at $17.7, representing a 2.3% increase from the previous day’s closing price of $17.3. This sharp jump in price is likely attributed to the investment, demonstrating the confidence that investors have in the airline’s future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Spirit Airlines. More…
| Total Revenues | Net Income | Net Margin |
| 5.45k | -463.36 | -2.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Spirit Airlines. More…
| Operations | Investing | Financing |
| 32.21 | -275.39 | 306.98 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Spirit Airlines. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 9.32k | 7.85k | 13.46 |
Key Ratios Snapshot
Some of the financial key ratios for Spirit Airlines are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 13.3% | 2.3% | -8.9% |
| FCF Margin | ROE | ROA |
| -4.9% | -20.0% | -3.3% |
Analysis
We at GoodWhale recently conducted an analysis of SPIRIT AIRLINES’s fundamentals to assess the risk of investing. In our assessment, we found that SPIRIT AIRLINES is a low-risk investment in terms of both financial and business aspects. However, we did detect two risk warnings in their income sheet and cashflow statement. If you’d like to know more about these warnings, please register with us and we’ll be happy to provide more information. By understanding the risks associated with this investment, you can make an informed decision regarding if it’s right for your portfolio. More…
Peers
Spirit Airlines Inc competes with Frontier Group Holdings Inc, JetBlue Airways Corp, and Southwest Airlines Co in the airline industry. Each company has a different business model, but all are trying to attract customers with low fares. Spirit Airlines Inc has been successful in this by offering bare-bones fares that are much lower than its competitors.
– Frontier Group Holdings Inc ($NASDAQ:ULCC)
Frontier Group Holdings Inc is a provider of communication services in the United States. The company offers broadband, video, and voice services to residential and business customers. It also provides data and Internet services. The company was founded in 1935 and is headquartered in Stamford, Connecticut.
– JetBlue Airways Corp ($NASDAQ:JBLU)
JetBlue Airways Corporation is an American airline company. It is the 6th-largest airline in the United States. The company was founded in 1998 and is headquartered in New York City. JetBlue Airways operates flights to more than 100 destinations in the United States, Caribbean, and Latin America. The company has a market capitalization of $2.46 billion as of 2022 and a return on equity of -8.81%. JetBlue Airways is a publicly traded company listed on the Nasdaq Stock Exchange.
– Southwest Airlines Co ($NYSE:LUV)
Southwest Airlines Co is a major U.S. airline, headquartered in Dallas, Texas. The company operates a fleet of 737 aircraft and serves destinations across the United States and several international destinations. Southwest is one of the largest airlines in the world, with a market capitalization of over $22 billion as of 2022. The company has a strong financial position, with a return on equity of over 8%. Southwest is a well-known brand and is a preferred choice for many travelers.
Summary
Spirit Airlines, Inc. (NASDAQ:SAVE) is an attractive investment option for investors. This indicates that the firm is bullish on the airline’s outlook and believes the stock has potential for growth. Analysts have noted positive trends in Spirit’s operations including a decrease in fuel expense, strong revenue growth, and a capacity expansion which will lead to improved load factors.
These positive developments suggest that Spirit Airlines is well positioned for future growth and profitability. Investors should keep a close eye on the stock as it may be a lucrative option in the near future.
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