Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY), a $851 million market cap airline currently trading near its 52-week high of $16.46, saw its Chief Operating Officer and Executive Vice President Gregory A. Mays recently report transactions involving company stock. According to a recent SEC filing, Mays sold 6,147 shares of Sun Country Airlines stock on January 10, 2025, at an average price of $16.0804 per share, totaling approximately $98,846.
Additionally, Mays acquired 164 shares through the exercise of stock options at a price of $5.30 per share, amounting to a total of $869. These transactions were conducted under a pre-established Rule 10b5-1 trading plan, which was adopted on September 4, 2024.
Following these transactions, Mays holds a total of 60,368 shares of Sun Country Airlines in direct ownership.
In other recent news, Sun Country Airlines has reported mixed results for the third quarter of 2024. The airline disclosed total revenue for Q3 2024 of $249.5 million, mirroring the previous year's figures. The passenger segment revenue saw a decrease of 3%, and scheduled service revenue experienced a 5.9% reduction. However, the cargo segment revenue hit a record $29.2 million, up 11.9%, with further growth expected. The company is planning to add five leased Oman aircraft by the end of 2024.
In a recent analysis, Goldman Sachs resumed coverage on Sun Country Airlines, assigning a Neutral rating to the carrier's shares. The firm highlighted the airline's robust margins, potential for margin growth into 2025, and the anticipated benefits from an expanded cargo service through a new contract with Amazon (NASDAQ:AMZN). The airline's financial health is expected to strengthen as it capitalizes on its existing assets and new contract opportunities, leading to a steady financial path ahead.
Looking ahead, Sun Country projects Q4 revenue between $250 million and $260 million, with an operating margin of 7% to 9%. While share buybacks are not in the immediate pipeline, the possibility will be reviewed in 2025. These are the recent developments in the airline's activities and strategic plans.
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