John Gyurci, Chief Accounting Officer and Vice President of Finance at Sun Country Airlines Holdings , Inc. (NASDAQ:SNCY), recently executed a series of stock transactions involving the company's common stock. According to a recent filing, Gyurci sold shares worth approximately $109,604 over two days. The sales come as Sun Country's stock has shown strong momentum, with a 39% gain over the past six months and currently trading near its 52-week high of $17.51.
On January 21, Gyurci sold 400 shares at an average price of $17.0013 per share. The following day, he sold an additional 6,000 shares at an average price of $17.134 per share. These sales were conducted under a Rule 10b5-1 trading plan, which had been adopted on September 10, 2024.
In addition to these sales, Gyurci exercised stock options on January 21 and 22, acquiring a total of 6,400 shares at a price of $5.30 each. Following these transactions, Gyurci holds 11,618 shares of Sun Country Airlines common stock.
In other recent news, Sun Country Airlines reported mixed results in Q3 2024, with total revenue mirroring the previous year's figures at $249.5 million. The passenger segment revenue saw a 3% decrease, while the scheduled service revenue experienced a 5.9% reduction. However, the airline's cargo segment revenue hit a record $29.2 million, marking an 11.9% increase, with further growth anticipated. Sun Country projects Q4 revenue to range between $250 million and $260 million, with an operating margin of 7% to 9%.
JPMorgan assigned an Overweight rating to Sun Country, citing its diversified revenue stream and strong operational margins. The firm set a price target of $23.00, suggesting a significant upside potential from current levels. Goldman Sachs also resumed coverage of Sun Country, assigning a Neutral rating to the company's shares 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. These recent developments underscore Sun Country's unique business model, which combines passenger, cargo, and charter services, positioning it favorably in the market.
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