Analysis of Hedge Fund Sentiment Surrounding Spirit Airlines Incorporated (NYSE:SAVE)

Hedge funds and other institutional investors have just revealed their equity portfolios as of the end of December, and one of their top picks is Spirit Airlines Incorporated (NYSE:SAVE). With 30 hedge funds holding long positions in the stock, there is a growing bullish sentiment surrounding SAVE.

According to Insider Monkey, the number of bullish hedge fund positions in SAVE increased by 10 recently, with notable investors like Citadel Investment Group and Interval Partners leading the way. Citadel Investment Group held the largest stake in SAVE, valued at $97.1 million, followed by Interval Partners with a stake worth $58 million.

As hedge funds continue to drive bullishness in SAVE, it’s worth noting that the stock is not among the 30 most popular stocks among hedge funds. However, with an average of 19.25 hedge funds holding bullish positions in similar stocks, SAVE stands out with $518 million invested in the company.

While SAVE may not have performed as well as some of the top 15 most popular stocks among hedge funds, investors should keep an eye on the stock for potential upside. As of now, SAVE has returned -3.9% and underperformed the market, but with the right strategy, there may be opportunities for growth.

In conclusion, hedge fund sentiment surrounding Spirit Airlines Incorporated is positive, with key investors increasing their stakes in the company. As the market continues to evolve, it will be interesting to see how SAVE performs in the coming quarters.