Bayforest Capital Ltd Invests $692,000 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 bought a new position in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,075 shares of the aerospace company's stock, valued at approximately $692,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SPR. Byrne Asset Management LLC lifted its position in Spirit Aerosystems by 128.2% during the first quarter. Byrne Asset Management LLC now owns 4,679 shares of the aerospace company's stock valued at $161,000 after purchasing an additional 2,629 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings 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 valued at $209,000 after buying an additional 1,967 shares in the last quarter. Cetera Investment Advisers bought a new stake in Spirit Aerosystems during the 1st quarter valued at about $211,000. Aristeia Capital L.L.C. purchased a new position in Spirit Aerosystems during the 1st quarter valued at about $238,000. Finally, KBC Group NV increased its position in Spirit Aerosystems by 23.1% during the 1st 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 during the period. Institutional investors own 93.59% of the company's stock.

Spirit Aerosystems Stock Down 1.2%

Shares of Spirit Aerosystems stock traded down $0.46 during trading hours 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 1 year low of $27.00 and a 1 year high of $42.33. The company has a market capitalization of $4.55 billion, a P/E ratio of -1.94 and a beta of 1.74. The business has a fifty day moving average of $40.41 and a two-hundred day moving average of $37.17.

Spirit Aerosystems (NYSE:SPR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The aerospace company reported ($3.34) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.52) by ($2.82). The company had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.82 billion. During the same period in the prior year, the company earned ($2.73) earnings per share. The company's revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, research analysts predict that Spirit Aerosystems Holdings, Inc. will post -11.88 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SPR. Wall Street Zen raised shares of Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. Susquehanna lifted their target price 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 two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently 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.