Flying Under the Radar: Strategies for Creating a Private Equity Portfolio with Publicly Traded Stocks
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 25 2025
0mins
Should l Buy SNCY?
Source: Benzinga
Private Equity Myths: The allure of private equity is often overstated; successful investments rely on buying small, undervalued companies with debt, not on any magical strategy.
Key Traits for Success: High-performing companies in private equity share traits such as paying down debt, improving asset turnover, and strong profitability, which align with deep value investing principles.
Public Market Opportunities: Individual investors can replicate private equity strategies in public markets by targeting smaller companies with improving fundamentals and favorable valuations, without the associated fees and restrictions.
Candidate Companies: Five companies—Sun Country Airlines, Heritage Insurance, Malibu Boats, Core Molding Technologies, and John Wiley & Sons—exemplify the characteristics of private equity replication candidates, offering potential for significant returns through operational improvements and financial leverage.
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Analyst Views on SNCY
Wall Street analysts forecast SNCY stock price to rise
7 Analyst Rating
5 Buy
2 Hold
0 Sell
Moderate Buy
Current: 16.420
Low
18.00
Averages
19.43
High
21.00
Current: 16.420
Low
18.00
Averages
19.43
High
21.00
About SNCY
Sun Country Airlines Holdings, Inc. is a hybrid low-cost air carrier that deploys shared resources across its scheduled service, charter, and cargo businesses. The Company focuses on serving leisure and visiting friends and relatives (VFR) passengers, charter customers, and providing crew, maintenance, and insurance (CMI) service to Amazon.com Services, LLC (Amazon), with flights throughout the United States and to destinations in Canada, Mexico, Central America, and the Caribbean. Its Passenger segment consists of two businesses: Scheduled Service and Charter. These businesses both utilize the Company's passenger fleet. Its Cargo segment provides air cargo services. It flies a single-family fleet of midlife Boeing 737-NG aircraft. Its fleet consists of about 70 Boeing 737-NG aircraft. This includes 47 aircraft in the passenger fleet, 20 cargo aircraft operated through the A&R ATSA with Amazon, and six aircraft that are on lease to unaffiliated airlines.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Allegiant and Sun Country Merger Set to Close Soon
- Merger Agreement Finalized: Allegiant and Sun Country announced their merger agreement in January, with a total deal value of approximately $1.5 billion, including debt, and is expected to close this week, marking a significant consolidation in the U.S. leisure airline market.
- Market Expansion: Post-merger, Allegiant will operate over 650 routes, combining its strength in small and mid-sized markets with Sun Country's network in larger cities and international leisure destinations, enhancing competitive positioning.
- Equity Structure Changes: After the merger closes, Allegiant shareholders are expected to own about 67% of the combined entity, while Sun Country shareholders will hold approximately 33%, impacting future decision-making and strategic direction for both companies.
- Operational Integration Plan: Until they receive a single operating certificate from the FAA, both companies will continue to operate separately, ensuring that existing ticketing and flight schedules remain unaffected, thereby laying a solid foundation for a smooth transition post-merger.
See More
Alignment Healthcare Joins S&P SmallCap 600 Index
- Index Composition Change: Alignment Healthcare (ALHC) will be added to the S&P SmallCap 600 index prior to the market opening on May 14, replacing Sun Country Airlines (SNCY), reflecting market recognition and confidence in ALHC.
- Acquisition Impact: The removal of Sun Country Airlines is part of a corporate acquisition by Allegiant Travel (ALGT), highlighting the accelerating trend of consolidation in the airline industry, which may affect the market performance of related companies.
- Stock Price Reaction: ALHC's stock price gained 6.5% during pre-market trading on Tuesday, indicating a positive investor response to its inclusion in the small-cap index, which could further enhance its market recognition and liquidity.
- Market Dynamics: This index adjustment not only impacts ALHC's market position but may also influence the overall competitive landscape of the airline industry, especially against the backdrop of consolidation pressures faced by low-cost carriers.
See More
Spirit Airlines Shuts Down, 17,000 Jobs Lost Amid Bankruptcy
- Bankruptcy Closure: Spirit Airlines announced its shutdown on May 2, 2026, after two bankruptcies, resulting in approximately 17,000 job losses, highlighting the company's vulnerability amid soaring fuel prices and competitive pressures.
- Failed Government Bailout: Despite efforts to secure a $500 million loan from the Trump administration to stay afloat, the lack of agreement with bondholders led to the failure of the bailout, reflecting the company's financial struggles.
- Intensified Market Competition: Major airlines began to replicate Spirit's low-cost model, eroding its market share, and the airline has not turned a profit since 2019, underscoring the need for industry consolidation.
- Executive Changes and Strategic Missteps: After its first bankruptcy, Spirit failed to make necessary asset divestitures to cut costs, leading to similar issues in its second bankruptcy, indicating management's strategic errors in crisis response.
See More
Spirit Airlines Announces Bankruptcy Closure
- Bankruptcy Closure: Spirit Airlines announced its closure after its second bankruptcy in less than a year, with CEO Dave Davis stating that the company simply “ran out of time,” resulting in approximately 17,000 employees losing their jobs, highlighting the severe challenges in the airline industry.
- Surging Fuel Prices: The surge in fuel prices due to the war in Iran, with crude oil exceeding $100 a barrel, severely impacted Spirit's plans to exit bankruptcy by mid-2026, demonstrating the volatility of operational costs in the airline sector.
- Failed Government Bailout: Spirit sought a $500 million loan from the Trump administration to stay afloat, but disagreements with bondholders prevented a deal, reflecting the complexities of financing in the aviation industry amidst economic pressures.
- Accelerated Industry Consolidation: The collapse of Spirit Airlines may accelerate consolidation in the airline sector, as CEO Davis noted that had the acquisition by JetBlue not been blocked two years ago, the company might not be in its current predicament, illustrating the competitive pressures faced by low-cost carriers.
See More
Low-Cost Airlines Urge Tax Relief Amid Fuel Costs
- Rising Fuel Costs: Major low-cost airline CEOs are set to meet with U.S. Transportation Secretary Sean Duffy on Tuesday to urge Congress for temporary tax relief to alleviate financial pressures caused by soaring jet fuel prices due to the war with Iran.
- Legislative Request: A group representing Spirit Airlines, Frontier Airlines, Allegiant Air, Sun Country, and Avelo wrote to congressional leaders last week, asking for legislation to suspend the 7.5% federal excise tax on airline tickets and the $5.30 per segment tax.
- Cost Impact Analysis: The Association of Value Airlines stated that waiving these fees would offset about one-third of the incremental costs associated with higher jet fuel, assisting airlines in maintaining operations amid rising fuel prices.
- Industry Response Strategy: This meeting and legislative request reflect low-cost airlines' efforts to seek policy support in the face of escalating operational costs, ensuring their market competitiveness and sustainable growth.
See More
Investor Rights Law Firm Investigates Multiple Companies for Potential Violations
- Investigation Background: Halper Sadeh LLC is investigating Enhabit, Inc. (NYSE:EHAB) regarding its sale to Kinderhook Industries, LLC for $13.80 per share, which may infringe on shareholder rights, prompting shareholders to understand their rights and options.
- UniFirst Transaction Details: UniFirst Corporation (NYSE:UNF) is being sold to Cintas Corporation for $155.00 in cash and 0.7720 shares of Cintas stock per UniFirst share, with Halper Sadeh LLC advising shareholders to be aware of potential legal rights and remedies.
- Airline Merger: Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) is being sold to Allegiant Travel Company for 0.1557 shares of Allegiant common stock and $4.10 in cash per Sun Country share, with Halper Sadeh LLC encouraging shareholders to consult to protect their rights.
- Merger Investigation: The merger of Esquire Financial Holdings, Inc. (NASDAQ:ESQ) with Signature Bancorporation, Inc. is also under investigation, with Halper Sadeh LLC potentially seeking increased compensation and additional disclosures for shareholders.
See More
Allegiant and Sun Country Merger Set to Close Soon
- Merger Agreement Finalized: Allegiant and Sun Country announced their merger agreement in January, with a total deal value of approximately $1.5 billion, including debt, and is expected to close this week, marking a significant consolidation in the U.S. leisure airline market.
- Market Expansion: Post-merger, Allegiant will operate over 650 routes, combining its strength in small and mid-sized markets with Sun Country's network in larger cities and international leisure destinations, enhancing competitive positioning.
- Equity Structure Changes: After the merger closes, Allegiant shareholders are expected to own about 67% of the combined entity, while Sun Country shareholders will hold approximately 33%, impacting future decision-making and strategic direction for both companies.
- Operational Integration Plan: Until they receive a single operating certificate from the FAA, both companies will continue to operate separately, ensuring that existing ticketing and flight schedules remain unaffected, thereby laying a solid foundation for a smooth transition post-merger.
See More
Alignment Healthcare Joins S&P SmallCap 600 Index
- Index Composition Change: Alignment Healthcare (ALHC) will be added to the S&P SmallCap 600 index prior to the market opening on May 14, replacing Sun Country Airlines (SNCY), reflecting market recognition and confidence in ALHC.
- Acquisition Impact: The removal of Sun Country Airlines is part of a corporate acquisition by Allegiant Travel (ALGT), highlighting the accelerating trend of consolidation in the airline industry, which may affect the market performance of related companies.
- Stock Price Reaction: ALHC's stock price gained 6.5% during pre-market trading on Tuesday, indicating a positive investor response to its inclusion in the small-cap index, which could further enhance its market recognition and liquidity.
- Market Dynamics: This index adjustment not only impacts ALHC's market position but may also influence the overall competitive landscape of the airline industry, especially against the backdrop of consolidation pressures faced by low-cost carriers.
See More
Spirit Airlines Shuts Down, 17,000 Jobs Lost Amid Bankruptcy
- Bankruptcy Closure: Spirit Airlines announced its shutdown on May 2, 2026, after two bankruptcies, resulting in approximately 17,000 job losses, highlighting the company's vulnerability amid soaring fuel prices and competitive pressures.
- Failed Government Bailout: Despite efforts to secure a $500 million loan from the Trump administration to stay afloat, the lack of agreement with bondholders led to the failure of the bailout, reflecting the company's financial struggles.
- Intensified Market Competition: Major airlines began to replicate Spirit's low-cost model, eroding its market share, and the airline has not turned a profit since 2019, underscoring the need for industry consolidation.
- Executive Changes and Strategic Missteps: After its first bankruptcy, Spirit failed to make necessary asset divestitures to cut costs, leading to similar issues in its second bankruptcy, indicating management's strategic errors in crisis response.
See More
Spirit Airlines Announces Bankruptcy Closure
- Bankruptcy Closure: Spirit Airlines announced its closure after its second bankruptcy in less than a year, with CEO Dave Davis stating that the company simply “ran out of time,” resulting in approximately 17,000 employees losing their jobs, highlighting the severe challenges in the airline industry.
- Surging Fuel Prices: The surge in fuel prices due to the war in Iran, with crude oil exceeding $100 a barrel, severely impacted Spirit's plans to exit bankruptcy by mid-2026, demonstrating the volatility of operational costs in the airline sector.
- Failed Government Bailout: Spirit sought a $500 million loan from the Trump administration to stay afloat, but disagreements with bondholders prevented a deal, reflecting the complexities of financing in the aviation industry amidst economic pressures.
- Accelerated Industry Consolidation: The collapse of Spirit Airlines may accelerate consolidation in the airline sector, as CEO Davis noted that had the acquisition by JetBlue not been blocked two years ago, the company might not be in its current predicament, illustrating the competitive pressures faced by low-cost carriers.
See More
Low-Cost Airlines Urge Tax Relief Amid Fuel Costs
- Rising Fuel Costs: Major low-cost airline CEOs are set to meet with U.S. Transportation Secretary Sean Duffy on Tuesday to urge Congress for temporary tax relief to alleviate financial pressures caused by soaring jet fuel prices due to the war with Iran.
- Legislative Request: A group representing Spirit Airlines, Frontier Airlines, Allegiant Air, Sun Country, and Avelo wrote to congressional leaders last week, asking for legislation to suspend the 7.5% federal excise tax on airline tickets and the $5.30 per segment tax.
- Cost Impact Analysis: The Association of Value Airlines stated that waiving these fees would offset about one-third of the incremental costs associated with higher jet fuel, assisting airlines in maintaining operations amid rising fuel prices.
- Industry Response Strategy: This meeting and legislative request reflect low-cost airlines' efforts to seek policy support in the face of escalating operational costs, ensuring their market competitiveness and sustainable growth.
See More
Investor Rights Law Firm Investigates Multiple Companies for Potential Violations
- Investigation Background: Halper Sadeh LLC is investigating Enhabit, Inc. (NYSE:EHAB) regarding its sale to Kinderhook Industries, LLC for $13.80 per share, which may infringe on shareholder rights, prompting shareholders to understand their rights and options.
- UniFirst Transaction Details: UniFirst Corporation (NYSE:UNF) is being sold to Cintas Corporation for $155.00 in cash and 0.7720 shares of Cintas stock per UniFirst share, with Halper Sadeh LLC advising shareholders to be aware of potential legal rights and remedies.
- Airline Merger: Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) is being sold to Allegiant Travel Company for 0.1557 shares of Allegiant common stock and $4.10 in cash per Sun Country share, with Halper Sadeh LLC encouraging shareholders to consult to protect their rights.
- Merger Investigation: The merger of Esquire Financial Holdings, Inc. (NASDAQ:ESQ) with Signature Bancorporation, Inc. is also under investigation, with Halper Sadeh LLC potentially seeking increased compensation and additional disclosures for shareholders.
See More
