Adage Capital Partners GP L.L.C. Has $43.17 Million Stock Position in Spirit Aerosystems Holdings, Inc. $SPR

Key Points

• Adage Capital Partners GP L.L.C. significantly reduced its stake in Spirit Aerosystems Holdings, Inc., trimming its position by 48.6% to approximately 1.07% ownership, valued at $43.17 million.
• Spirit Aerosystems faced a disappointing quarter, reporting an earnings per share of ($3.34), missing estimates by ($2.82), despite a 9.6% year-over-year revenue increase.
• Analysts have recently upgraded Spirit Aerosystems to a consensus rating of "Moderate Buy" with an average price target of $38.63, showing a shift in perspective amidst recent financial performance.

Adage Capital Partners GP L.L.C. reduced its holdings in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) by 48.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,252,640 shares of the aerospace company's stock after selling 1,186,151 shares during the quarter. Adage Capital Partners GP L.L.C. owned 1.07% of Spirit Aerosystems worth $43,166,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in Spirit Aerosystems in the fourth quarter valued at $290,000. Hsbc Holdings PLC lifted its stake in Spirit Aerosystems by 33.6% in the fourth quarter. Hsbc Holdings PLC now owns 13,509 shares of the aerospace company's stock valued at $458,000 after buying an additional 3,397 shares during the last quarter. Northern Trust Corp lifted its stake in Spirit Aerosystems by 13.7% in the fourth quarter. Northern Trust Corp now owns 565,069 shares of the aerospace company's stock valued at $19,258,000 after buying an additional 68,183 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its stake in Spirit Aerosystems by 17.3% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 47,300 shares of the aerospace company's stock valued at $1,612,000 after buying an additional 6,979 shares during the last quarter. Finally, Lighthouse Investment Partners LLC bought a new stake in Spirit Aerosystems in the fourth quarter valued at $9,630,000. 93.59% of the stock is currently owned by hedge funds and other institutional investors.

Spirit Aerosystems Trading Down 1.0%

NYSE:SPR traded down $0.40 during mid-day trading on Friday, reaching $40.78. 1,277,298 shares of the stock were exchanged, compared to its average volume of 735,441. The business has a fifty day moving average price of $40.17 and a 200 day moving average price of $36.98. The firm has a market capitalization of $4.79 billion, a PE ratio of -2.04 and a beta of 1.74. Spirit Aerosystems Holdings, Inc. has a 1-year low of $27.00 and a 1-year high of $42.33.

Spirit Aerosystems (NYSE:SPR - Get Free Report) last released its earnings results on Tuesday, August 5th. The aerospace company reported ($3.34) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.52) by ($2.82). The company had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.82 billion. The firm's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($2.73) earnings per share. On average, sell-side analysts forecast that Spirit Aerosystems Holdings, Inc. will post -11.88 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SPR shares. Wall Street Zen upgraded Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. Susquehanna raised their price target on Spirit Aerosystems from $37.00 to $40.00 and gave the company a "neutral" rating in a report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Spirit Aerosystems presently has a consensus rating of "Moderate Buy" and an average target price of $38.63.

About Spirit Aerosystems

Spirit AeroSystems Holdings, Inc engages in the design, engineering, manufacture, and marketing of commercial aerostructures worldwide. It operates through three segments: Commercial, Defense & Space, and Aftermarket. The Commercial segment offers forward, mid, and rear fuselage sections and systems, floor beams, nacelles, struts/pylons, horizontal and vertical stabilizers, flaps and slats flight control surfaces, wing structures, and wing systems.