Palantir a high-risk investment with ’a one-of-a-kind growth and margin model’
Neale Erin Rose, the Senior Vice President, General Counsel, and Secretary at Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY), recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission. The transactions come as the airline's stock trades near its 52-week high of $16.46, having gained 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.
The transactions were completed at prices of $15.9466 and $15.88 per share, respectively. The total value of these sales amounted to $109,765. Notably, the initial sale of 2,434 shares was conducted to cover tax withholding obligations related to the vesting of restricted stock units, as indicated in the filing. The subsequent sale of 4,468 shares was carried out under a pre-established Rule 10b5-1 trading plan, 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 equities.
In other recent news, Sun Country Airlines Holdings reported mixed results for the third quarter of 2024. The total revenue for Q3 2024 stood at $249.5 million, reflecting figures from the previous year. Despite challenges such as industry overcapacity and external disruptions, the airline is optimistic about its unit revenue trends and margin expansion. The passenger segment revenue decreased by 3%, and scheduled service revenue saw a 5.9% reduction. However, the cargo segment revenue reached a record $29.2 million, marking an increase of 11.9%, with further growth anticipated.
The company plans to add five leased Oman aircraft by the end of 2024. Looking ahead, Sun Country projects Q4 revenue between $250 million and $260 million, with an operating margin of 7% to 9%. Goldman Sachs, which recently resumed coverage on Sun Country, anticipates that the airline's rising profitability will lead to an increase in free cash flow over the medium term, bolstered by the airline's current fleet and expanded cargo service through a lucrative contract with Amazon (NASDAQ:AMZN). The firm assigns a Neutral rating to the carrier's shares, highlighting Sun Country's robust margins and potential for margin growth into 2025.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.