MINNEAPOLIS—John Gyurci, Chief Accounting Officer and Vice President of Finance at Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY), recently sold 1,090 shares of the company's common stock. The shares were sold at an average price of $15.4486 each, totaling approximately $16,838. Following this transaction, Gyurci holds 12,999 shares directly.
The transaction was disclosed in a filing with the Securities and Exchange Commission, indicating Gyurci's continued involvement in managing his investment in the airline company. Sun Country Airlines, based in Minneapolis, operates in the scheduled air transportation industry.
In other recent news, Sun Country Airlines reported mixed financial results for Q3 2024. Despite operational challenges such as industry overcapacity and external disruptions, the company showed resilience, maintaining total revenue at $249.5 million, consistent with the previous year. However, the passenger segment revenue saw a 3% decrease, and scheduled service revenue dropped by 5.9%. On the brighter side, the cargo segment hit a record revenue of $29.2 million, marking an 11.9% increase, with further growth anticipated.
Sun Country's Q4 revenue is projected to fall between $250 million and $260 million, with an operating margin of 7% to 9%. The airline is planning to add five leased Oman aircraft by the end of 2024, indicating expansion plans. While no immediate plans for share buybacks are on the table, the possibility will be reviewed in 2025.
These recent developments reflect Sun Country Airlines' strategic adjustments to navigate operational challenges while focusing on areas of growth, such as the cargo segment. The airline remains optimistic about its unit revenue trends and margin expansion moving forward, underpinned by positive booking trends, particularly in the Minneapolis and Florida markets.
InvestingPro Insights
As John Gyurci adjusts his stake in Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY), recent data from InvestingPro sheds light on the company's financial health and market performance. The airline's stock has shown remarkable strength recently, with InvestingPro data revealing a 45.63% price return over the past month and an impressive 64.48% return over the last three months. This upward trajectory aligns with an InvestingPro Tip indicating a strong return over the last quarter.
Despite the recent insider sale, Sun Country Airlines maintains a market capitalization of $820.57 million and boasts a price-to-earnings ratio of 18.2, suggesting a relatively moderate valuation compared to some industry peers. An InvestingPro Tip notes that analysts predict the company will be profitable this year, which could be a positive sign for investors considering the stock's recent performance.
It's worth noting that while the company has shown strong returns, another InvestingPro Tip cautions that the RSI suggests the stock may be in overbought territory. This information could be particularly relevant for investors analyzing the timing of Gyurci's stock sale.
For those seeking a more comprehensive analysis, InvestingPro offers additional insights with 7 more tips available for Sun Country Airlines. These tips could provide valuable context for understanding the company's financial position and future prospects in the competitive airline industry.
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