AlphaQuest LLC Buys New Shares 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 position in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,713 shares of the aerospace company's stock, valued at approximately $266,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Byrne Asset Management LLC lifted its stake in Spirit Aerosystems by 128.2% in the first quarter. Byrne Asset Management LLC now owns 4,679 shares of the aerospace company's stock worth $161,000 after acquiring an additional 2,629 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Spirit Aerosystems by 48.0% in the 1st quarter. Russell Investments Group Ltd. now owns 6,061 shares of the aerospace company's stock valued at $209,000 after purchasing an additional 1,967 shares in the last quarter. Cetera Investment Advisers purchased a new stake in shares of Spirit Aerosystems in the 1st quarter worth approximately $211,000. KBC Group NV boosted its stake in shares of Spirit Aerosystems by 23.1% during the first quarter. KBC Group NV now owns 7,055 shares of the aerospace company's stock valued at $243,000 after purchasing an additional 1,322 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in Spirit Aerosystems by 10.0% during the fourth quarter. ProShare Advisors LLC now owns 7,731 shares of the aerospace company's stock valued at $263,000 after buying an additional 703 shares during the period. 93.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Spirit Aerosystems Trading Down 0.3%

Shares of SPR stock traded down $0.12 during trading hours on Thursday, reaching $41.16. 1,199,950 shares of the company's stock were exchanged, compared to its average volume of 714,045. Spirit Aerosystems Holdings, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $42.33. The stock's 50 day moving average is $40.13 and its 200-day moving average is $36.92. The company has a market cap of $4.83 billion, a price-to-earnings ratio of -2.06 and a beta of 1.74.

Spirit Aerosystems (NYSE:SPR - Get Free Report) last announced its earnings results on Tuesday, August 5th. The aerospace company reported ($3.34) earnings per share for the quarter, missing the consensus estimate 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. Spirit Aerosystems's revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted ($2.73) EPS. Equities analysts anticipate that Spirit Aerosystems Holdings, Inc. will post -11.88 EPS for the current year.

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.