Aristeia Capital L.L.C. Makes New $238,000 Investment in Spirit Aerosystems Holdings, Inc. $SPR

Key Points

• Aristeia Capital L.L.C. has acquired 6,920 shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR), valued at approximately $238,000, highlighting growing interest from institutional investors.
• Several research firms have recently revised their price targets for Spirit Aerosystems, with Susquehanna raising its target from $37.00 to $40.00 and the stock receiving an overall average rating of "Moderate Buy".
• Despite a loss of $3.34 earnings per share reported by the company, its revenue increased 9.6% year-over-year, amounting to $1.64 billion.

Aristeia Capital L.L.C. purchased a new position in Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,920 shares of the aerospace company's stock, valued at approximately $238,000.

Other institutional investors also recently added to or reduced their stakes 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 last quarter. Russell Investments Group Ltd. lifted its stake in Spirit Aerosystems by 48.0% in the first quarter. Russell Investments Group Ltd. now owns 6,061 shares of the aerospace company's stock worth $209,000 after acquiring an additional 1,967 shares during the last quarter. Cetera Investment Advisers purchased a new position in Spirit Aerosystems in the first quarter worth approximately $211,000. KBC Group NV lifted its stake in Spirit Aerosystems by 23.1% in the first quarter. KBC Group NV now owns 7,055 shares of the aerospace company's stock worth $243,000 after acquiring an additional 1,322 shares during the last quarter. Finally, AlphaQuest LLC purchased a new position in Spirit Aerosystems in the first quarter worth approximately $266,000. Hedge funds and other institutional investors own 93.59% of the company's stock.

Analyst Ratings Changes

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

Spirit Aerosystems Price Performance

Shares of NYSE:SPR traded down $0.46 during trading on Friday, hitting $38.78. 789,336 shares of the company were exchanged, compared to its average volume of 828,090. The stock has a market capitalization of $4.55 billion, a P/E ratio of -1.94 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. The firm's 50 day moving average price is $40.41 and its 200-day moving average price is $37.21.

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 the consensus estimate of ($0.52) by ($2.82). The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the company earned ($2.73) EPS. The company's revenue was up 9.6% on a year-over-year basis. As a group, equities research analysts anticipate that Spirit Aerosystems Holdings, Inc. will post -11.88 EPS for the current year.

Spirit Aerosystems Company 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.