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Sun Country Airlines SVP Neale Erin Rose sells $109,765 worth of stock By Investing.com

Neale Erin Rose, Senior Vice President, General Counsel and Secretary at Sun Country Airlines Holdings, Inc. (NASDAQ: SNCY ), recently made a number of stock transactions, according to a filing with the Securities and Exchange Commission. The transactions come as the airline’s shares are hovering near a 52-week high of $16.46, after rising nearly 29% over the past six months. On January 10 and January 13, Rose sold a total of 6,902 shares of Sun Country common stock.

Transactions were made at prices of USD 15.9466, or USD 15.88 per share. The total value of this sale was $109,765. Namely, the initial sale of 2,434 shares was carried out to cover withholding tax liabilities in connection with the allocation of restricted stock shares, as stated in the submission. The subsequent sale of 4,468 shares was carried out according to the predetermined trading plan of Rule 10b5-1, adopted on September 12, 2024.

Following these transactions, Rose retains ownership of 20,695 shares of Sun Country stock. InvestingPro analysis suggests the stock is currently trading below its fair value, with additional insights available in the comprehensive Pro Research Report, part of InvestingPro’s coverage of over 1,400 US stocks.

In other recent news, Sun Country Airlines Holdings reported mixed results for the third quarter of 2024. Total revenue for the third quarter of 2024 was $249.5 million, mirroring the prior year numbers. Despite challenges such as industry overcapacity and external disruptions, the airline is optimistic about unit revenue trends and margin expansion. Revenues from the passenger segment decreased by 3%, and revenues from regular services decreased by 5.9%. However, revenue in the cargo segment reached a record $29.2 million, registering an increase of 11.9%, with further growth expected.

The company plans to add five leased Oman aircraft by the end of 2024. Looking ahead, Sun Country expects fourth-quarter revenue of between $250 million and $260 million, with an operating margin of 7% to 9%. Goldman Sachs, which recently resumed coverage of Sun Country, predicts that the airline’s increasing profitability will lead to increased free cash flow in the medium term, supported by the airline’s current fleet and expanded cargo service through a lucrative deal with Amazon (NASDAQ: ). The firm assigns a Neutral rating to the carrier’s stock, noting Sun Country’s strong margins and potential for margin growth through 2025.

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