Aristeia Capital L.L.C. Invests $238,000 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. acquired a new position in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,920 shares of the aerospace company's stock, valued at approximately $238,000.

Other hedge funds have also added to or reduced their stakes in the company. Byrne Asset Management LLC raised its stake in Spirit Aerosystems by 128.2% during the 1st quarter. Byrne Asset Management LLC now owns 4,679 shares of the aerospace company's stock worth $161,000 after buying an additional 2,629 shares during the period. Russell Investments Group Ltd. raised its stake in Spirit Aerosystems by 48.0% during the 1st quarter. Russell Investments Group Ltd. now owns 6,061 shares of the aerospace company's stock worth $209,000 after buying an additional 1,967 shares during the period. Cetera Investment Advisers acquired a new stake in Spirit Aerosystems during the 1st quarter worth $211,000. KBC Group NV raised its stake in Spirit Aerosystems by 23.1% during the 1st quarter. KBC Group NV now owns 7,055 shares of the aerospace company's stock worth $243,000 after buying an additional 1,322 shares during the period. Finally, AlphaQuest LLC acquired a new stake in Spirit Aerosystems during the 1st quarter worth $266,000. Institutional investors and hedge funds own 93.59% of the company's stock.

Spirit Aerosystems Stock Performance

Spirit Aerosystems stock traded down $0.46 during midday trading on Friday, reaching $38.78. 789,336 shares of the company's stock were exchanged, compared to its average volume of 824,222. Spirit Aerosystems Holdings, Inc. has a 52 week low of $27.00 and a 52 week high of $42.33. The firm has a market cap of $4.55 billion, a price-to-earnings ratio of -1.94 and a beta of 1.74. The stock's 50-day simple moving average is $40.41 and its 200 day simple moving average is $37.17.

Spirit Aerosystems (NYSE:SPR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The aerospace company reported ($3.34) 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 analyst estimates of $1.82 billion. During the same period in the prior year, the firm earned ($2.73) EPS. The business's revenue for the quarter was up 9.6% compared to the same quarter last year. Research analysts forecast that Spirit Aerosystems Holdings, Inc. will post -11.88 earnings per share for the current year.

Analyst Ratings Changes

SPR has been the topic of several recent research reports. Susquehanna lifted their price target on Spirit Aerosystems from $37.00 to $40.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Wall Street Zen raised Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. One 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.63.

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.