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John Gyurci, Chief Accounting Officer and VP of Finance at Sun Country Airlines Holdings , Inc. (NASDAQ:SNCY), recently executed a series of stock transactions. On January 23 and 24, Gyurci sold a total of 1,793 shares of Sun Country common stock, generating approximately $30,488. The shares were sold at prices ranging from $17.00 to $17.0046 per share, under a pre-established Rule 10b5-1 trading plan adopted in September 2024. The sale comes as Sun Country's stock has shown strong momentum, up 31% over the past six months, with the current price near its 52-week high of $17.51. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value model.
In addition to the sales, Gyurci exercised stock options to acquire 1,793 shares at a price of $5.30 per share, totaling $9,502. Following these transactions, Gyurci holds 11,618 shares of Sun Country common stock directly. With a market capitalization of approximately $899 million, Sun Country has shown resilient performance, and InvestingPro subscribers can access 7 additional key insights about the company's financial health and growth prospects through the comprehensive Pro Research Report.
In other recent news, Sun Country Airlines has been the focus of several key developments. The company reported mixed results for the third quarter of 2024, with total revenue remaining roughly level with the previous year at $249.5 million. Despite a decrease in passenger segment revenue by 3% and a 5.9% reduction in scheduled service revenue, the airline's cargo segment revenue hit a record $29.2 million, up 11.9%, with further growth expected.
In terms of analyst coverage, JPMorgan initiated coverage of Sun Country Airlines, assigning an Overweight rating and setting a price target of $23.00, reflecting a positive outlook on the airline's financial prospects. Goldman Sachs also resumed coverage, assigning a Neutral rating and highlighting the airline's robust margins and potential for margin growth into 2025.
The airline's strategic plans include the addition of five leased Oman aircraft by the end of 2024 and a review of the possibility of share buybacks in 2025. For the fourth quarter, Sun Country projects revenue between $250 million and $260 million, with an operating margin of 7% to 9%. These recent developments underscore Sun Country's unique business model, combining passenger, cargo, and charter services, positioning it favorably in the market.
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