Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY), the $851 million airline currently trading near a 52-week high of $16.46, recently saw its Chief Operating Officer and Executive Vice President Gregory A. Mays on transactions involving company shares. According to a recent filing with the SEC, Mays sold 6,147 shares of Sun Country Airlines at an average price of $16.0804 per share on January 10, 2025, for a total of approximately $98,846.
In addition, Mays acquired 164 shares through stock options at a price of $5.30 per share, for a total of $869. These transactions were executed pursuant to a predetermined Rule 10b5-1 trading plan, which was adopted on September 4, 2024.
After these transactions, Mays holds a total of 60,368 shares of Sun Country Airlines directly owned.
In other recent news, Sun Country Airlines reported mixed results for the third quarter of 2024. The airline reported total revenue for the third quarter of 2024 of $249.5 million, mirroring the prior year numbers. Revenues from the passenger segment recorded a drop of 3%, and revenues from regular services decreased by 5.9%. However, cargo revenue reached a record $29.2 million, up 11.9%, with further growth expected. The company plans to add five leased Oman aircraft by the end of 2024.
In a recent analysis, Goldman Sachs continued coverage on Sun Country Airlines, assigning a Neutral rating to the carrier’s stock. The company highlighted the airline’s strong margins, the potential for margin growth through 2025 and expected benefits from expanded cargo service through a new deal with Amazon (NASDAQ: ). The airline’s financial health is expected to strengthen as it capitalizes on its existing assets and new contract opportunities, leading to a stable financial path forward.
Looking ahead, Sun Country expects fourth-quarter revenue of between $250 million and $260 million, with an operating margin of 7% to 9%. Although share buybacks are not planned, this possibility will be considered in 2025. These are recent developments in the airline’s activities and strategic plans.
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