Bayforest Capital Ltd Sells 7,222 Shares of Spirit Aerosystems Holdings, Inc. $SPR

Key Points

• Bayforest Capital Ltd reduced its stake in Spirit Aerosystems by 36% during Q2, selling 7,222 shares, and now holds 12,853 shares worth approximately $490,000.
• Institutional investors now own 93.59% of Spirit Aerosystems, indicating strong institutional interest in the company.
• Spirit Aerosystems reported a quarterly earnings miss with a loss of ($3.34) per share, below the consensus estimate, while revenue was $1.64 billion, falling short of expectations.

Bayforest Capital Ltd trimmed its position in Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) by 36.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,853 shares of the aerospace company's stock after selling 7,222 shares during the quarter. Bayforest Capital Ltd's holdings in Spirit Aerosystems were worth $490,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Spirit Aerosystems by 4,207.4% in the first quarter. GAMMA Investing LLC now owns 11,027 shares of the aerospace company's stock valued at $380,000 after acquiring an additional 10,771 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in Spirit Aerosystems in the 1st quarter valued at about $1,087,000. CIBRA Capital Ltd acquired a new position in shares of Spirit Aerosystems during the 1st quarter worth approximately $11,987,000. Valeo Financial Advisors LLC bought a new position in shares of Spirit Aerosystems during the second quarter worth approximately $1,747,000. Finally, Maven Securities LTD acquired a new stake in shares of Spirit Aerosystems in the first quarter valued at approximately $689,000. Institutional investors and hedge funds own 93.59% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SPR. Zacks Research raised Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a research report on Monday, September 15th. Susquehanna increased their target price on Spirit Aerosystems from $37.00 to $40.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Spirit Aerosystems in a research note on Wednesday, October 8th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $38.63.

Spirit Aerosystems Stock Performance

Spirit Aerosystems stock opened at $38.61 on Wednesday. Spirit Aerosystems Holdings, Inc. has a 52 week low of $27.00 and a 52 week high of $42.33. The stock has a market capitalization of $4.53 billion, a P/E ratio of -1.93 and a beta of 1.70. The stock has a fifty day moving average of $39.83 and a 200-day moving average of $37.90.

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

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.

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