Bayforest Capital Ltd Takes $692,000 Position in Spirit Aerosystems Holdings, Inc. $SPR

Key Points

• Bayforest Capital Ltd has acquired a new position in Spirit Aerosystems Holdings, Inc., purchasing 20,075 shares valued at approximately $692,000 during the first quarter.
• Institutional investors now hold 93.59% of Spirit Aerosystems, with notable increases in holdings reported by firms such as UBS AM and Twin Securities.
• Despite a revenue increase of 9.6% year-over-year, Spirit Aerosystems reported a larger-than-expected loss of ($3.34 EPS) in its most recent quarterly earnings.

Bayforest Capital Ltd purchased a new stake in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 20,075 shares of the aerospace company's stock, valued at approximately $692,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Pentwater Capital Management LP boosted its stake in shares of Spirit Aerosystems by 1.2% during the first quarter. Pentwater Capital Management LP now owns 9,330,000 shares of the aerospace company's stock valued at $321,512,000 after purchasing an additional 110,000 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Spirit Aerosystems by 6.2% during the fourth 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 purchasing an additional 171,935 shares during the period. Millennium Management LLC boosted its stake in shares of Spirit Aerosystems by 51.9% during the first quarter. Millennium Management LLC now owns 2,545,611 shares of the aerospace company's stock valued at $87,722,000 after purchasing an additional 870,263 shares during the period. TIG Advisors LLC boosted its stake in shares of Spirit Aerosystems by 18.3% during the first quarter. TIG Advisors LLC now owns 2,057,216 shares of the aerospace company's stock valued at $70,892,000 after purchasing an additional 318,122 shares during the period. Finally, AQR Arbitrage LLC boosted its stake in shares of Spirit Aerosystems by 73.9% during the first quarter. AQR Arbitrage LLC now owns 1,093,536 shares of the aerospace company's stock valued at $37,640,000 after purchasing an additional 464,755 shares during the period. Hedge funds and other institutional investors own 93.59% of the company's stock.

Spirit Aerosystems Trading Down 1.2%

Spirit Aerosystems stock traded down $0.46 on Friday, hitting $38.78. 789,336 shares of the stock traded hands, compared to its average volume of 824,222. Spirit Aerosystems Holdings, Inc. has a 1 year low of $27.00 and a 1 year high of $42.33. The business's fifty day simple moving average is $40.41 and its 200 day simple moving average is $37.19. The firm has a market cap of $4.55 billion, a P/E ratio of -1.94 and a beta of 1.74.

Spirit Aerosystems (NYSE:SPR - Get Free Report) last issued its quarterly 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 firm had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.82 billion. During the same period in the previous year, the firm earned ($2.73) EPS. Spirit Aerosystems's quarterly revenue was up 9.6% on a year-over-year basis. As a group, analysts predict that Spirit Aerosystems Holdings, Inc. will post -11.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wall Street Zen raised Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. Susquehanna increased their price objective on Spirit Aerosystems from $37.00 to $40.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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.