AlphaQuest LLC Acquires New Stake in Spirit Aerosystems Holdings, Inc. $SPR

Key Points

• AlphaQuest LLC has invested approximately $266,000 in Spirit Aerosystems Holdings, Inc., acquiring 7,713 shares during the first quarter.
• A significant proportion of the company's stock, about 93.59%, is owned by hedge funds and other institutional investors.
• Despite reporting (3.34) earnings per share for the last quarter—significantly below estimates—Spirit Aerosystems' revenue grew by 9.6% year-over-year.

AlphaQuest LLC purchased a new stake in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,713 shares of the aerospace company's stock, valued at approximately $266,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Spirit Aerosystems by 6.2% in the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,952,014 shares of the aerospace company's stock valued at $100,605,000 after acquiring an additional 171,935 shares during the period. SG Americas Securities LLC increased its position in shares of Spirit Aerosystems by 195.6% during the first quarter. SG Americas Securities LLC now owns 962,903 shares of the aerospace company's stock valued at $33,182,000 after buying an additional 637,110 shares during the period. Bank of Nova Scotia increased its position in shares of Spirit Aerosystems by 28.2% during the first quarter. Bank of Nova Scotia now owns 846,000 shares of the aerospace company's stock valued at $29,153,000 after buying an additional 186,000 shares during the period. Royal Bank of Canada increased its position in shares of Spirit Aerosystems by 28.7% during the fourth quarter. Royal Bank of Canada now owns 659,083 shares of the aerospace company's stock valued at $22,461,000 after buying an additional 147,129 shares during the period. Finally, Northern Trust Corp increased its position in shares of Spirit Aerosystems by 13.7% during 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 period. Institutional investors own 93.59% of the company's stock.

Spirit Aerosystems Price Performance

Spirit Aerosystems stock traded down $0.18 during trading hours on Monday, reaching $41.63. The company had a trading volume of 786,974 shares, compared to its average volume of 725,625. The company has a 50-day moving average price of $39.87 and a 200 day moving average price of $36.81. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of -2.08 and a beta of 1.74. Spirit Aerosystems Holdings, Inc. has a 12-month low of $27.00 and a 12-month high of $42.33.

Spirit Aerosystems (NYSE:SPR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The aerospace company reported ($3.34) earnings per share for the quarter, missing analysts' consensus estimates of ($0.52) by ($2.82). The firm had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.82 billion. The business's revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($2.73) EPS. As a group, research analysts expect that Spirit Aerosystems Holdings, Inc. will post -11.88 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SPR. Susquehanna upped their price target on Spirit Aerosystems from $37.00 to $40.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Wall Street Zen upgraded Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $38.63.

Spirit Aerosystems Profile

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.