Assenagon Asset Management S.A. Makes New Investment in Spirit Aerosystems Holdings, Inc. $SPR

Key Points

• Assenagon Asset Management S.A. acquired a stake in Spirit Aerosystems Holdings, purchasing 44,003 shares valued at approximately $1,679,000 during the second quarter.
• Spirit Aerosystems posted a quarterly revenue of $1.64 billion, which was below analyst estimates, and had an EPS of ($3.34), missing the consensus expectation significantly.
• Institutional investors currently own 93.59% of Spirit Aerosystems stock, indicating strong interest from hedge funds and institutional investors in the aerospace company.

Assenagon Asset Management S.A. acquired a new stake in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 44,003 shares of the aerospace company's stock, valued at approximately $1,679,000.

Other hedge funds have also modified their holdings of the company. NBC Securities Inc. raised its stake in Spirit Aerosystems by 113,966.7% during the first quarter. NBC Securities Inc. now owns 17,110 shares of the aerospace company's stock worth $589,000 after purchasing an additional 17,095 shares during the period. GAMMA Investing LLC raised its position in shares of Spirit Aerosystems by 4,207.4% in the 1st quarter. GAMMA Investing LLC now owns 11,027 shares of the aerospace company's stock worth $380,000 after buying an additional 10,771 shares during the period. Harbor Capital Advisors Inc. purchased a new position in shares of Spirit Aerosystems in the 1st quarter worth $1,003,000. Teacher Retirement System of Texas acquired a new position in Spirit Aerosystems in the first quarter valued at $1,087,000. Finally, CIBRA Capital Ltd purchased a new stake in Spirit Aerosystems during the first quarter valued at about $11,987,000. 93.59% of the stock is owned by institutional investors and hedge funds.

Spirit Aerosystems Stock Performance

Spirit Aerosystems stock opened at $39.69 on Friday. Spirit Aerosystems Holdings, Inc. has a one year low of $27.00 and a one year high of $42.33. The stock's 50 day moving average price is $40.14 and its 200 day moving average price is $37.51. The firm has a market capitalization of $4.66 billion, a PE ratio of -1.98 and a beta of 1.74.

Spirit Aerosystems (NYSE:SPR - Get Free Report) last posted its 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 firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.82 billion. The company's quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($2.73) earnings per share. On average, analysts forecast that Spirit Aerosystems Holdings, Inc. will post -11.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on SPR. Zacks Research upgraded Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a report on Monday, September 15th. Wall Street Zen upgraded shares of Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, 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 note on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.

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