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David M. Davis, President and CFO of Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY), recently sold 1,138 shares of the company's common stock. The transaction, which took place on January 3, 2025, was executed at an average price of $14.1821 per share, resulting in a total value of approximately $16,139. The stock has since climbed to $16.01, showing strong momentum with a 9.81% gain over the past week and trading near its 52-week high of $16.34. According to InvestingPro analysis, the company appears slightly undervalued at its current market cap of $845 million. This sale was conducted to cover tax withholding obligations related to the vesting of restricted stock units, as noted in the filing. Following the transaction, Davis holds 35,020 shares in the company. InvestingPro subscribers can access 10 additional key insights about Sun Country Airlines, including detailed financial health scores and comprehensive valuation metrics in the Pro Research Report, which provides expert analysis for smarter investment decisions.
In other recent news, Sun Country Airlines reported mixed results for the third quarter of 2024, with total revenue standing at $249.5 million, mirroring the previous year's figures. Despite a 3% decrease in passenger segment revenue and a 5.9% reduction in scheduled service revenue, the cargo segment revenue reached a record $29.2 million, marking an 11.9% growth. Goldman Sachs resumed coverage on the airline's stock, assigning a neutral rating and highlighting the potential for margin growth into 2025 due to improved pilot staffing and an expanded cargo service through a new contract with Amazon (NASDAQ:AMZN). The firm also anticipates that Sun Country's rising profitability will lead to an increase in free cash flow over the medium term. In addition to this, Sun Country plans to add five leased Oman aircraft by the end of 2024. For the fourth quarter, the airline projects revenue between $250 million and $260 million, with an operating margin of 7% to 9%. These recent developments are part of the airline's strategic plans and activities.
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