MINNEAPOLIS—John Gyurci, Chief Accounting Officer and Vice President of Finance at Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY), recently executed a significant stock transaction. According to a Form 4 filing with the Securities and Exchange Commission, Gyurci sold 40,000 shares of Sun Country Airlines common stock on December 12, 2024. The shares were sold at a weighted average price of $15.6088, amounting to a total transaction value of approximately $624,352. The transaction comes as the airline, currently valued at $800 million, has shown strong momentum with a 54% price return over the past six months, according to InvestingPro data.
The sale was conducted under a Rule 10b5-1 trading plan, which Gyurci adopted on September 10, 2024. The shares were sold in multiple transactions at prices ranging from $15.25 to $15.84.
In addition to the sale, Gyurci also exercised options to acquire 40,000 shares at a price of $5.30 per share, marking a transaction value of $212,000. Following these transactions, Gyurci holds 12,999 shares of Sun Country Airlines common stock.
Sun Country Airlines, headquartered in Minneapolis, operates scheduled air transportation services.
In other recent news, Sun Country Airlines Holdings reported mixed results for the third quarter of 2024. The airline's total revenue for Q3 2024 mirrored the previous year's figures at $249.5 million, despite operational challenges. The passenger segment revenue saw a reduction of 3%, and scheduled service revenue decreased by 5.9%. However, the cargo segment revenue hit a record $29.2 million, showing an increase of 11.9%.
The airline, as per Goldman Sachs (NYSE:GS), shows potential for margin growth into 2025, driven by improved pilot staffing and an expanded cargo service through a more lucrative contract with Amazon (NASDAQ:AMZN). The firm also highlighted Sun Country's robust margins due to its distinctive approach of seasonal capacity management in its passenger business and the stability provided by long-term contracts in its cargo and charter operations.
Sun Country has projected its Q4 revenue to be between $250 million and $260 million, with an operating margin of 7% to 9%. The airline plans to add five leased Oman aircraft by the end of 2024 and will review the possibility of share buybacks in 2025. These are all part of the airline's recent developments and strategic plans.
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