Gabelli Funds LLC Raises Position in Spirit Aerosystems Holdings, Inc. $SPR

Key Points

• Gabelli Funds LLC increased its stake in Spirit Aerosystems Holdings, Inc. by 67.8%, owning approximately 0.40% of the company, valued at $15.99 million.
• Spirit Aerosystems reported an earnings miss for the last quarter, posting a loss of ($3.34) EPS compared to analysts' expectations of ($0.52).
• Several hedge funds have changed their positions in Spirit, with Byrne Asset Management LLC raising its holdings by 128.2% during the same period.

Gabelli Funds LLC grew its holdings in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) by 67.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 464,081 shares of the aerospace company's stock after purchasing an additional 187,484 shares during the period. Gabelli Funds LLC owned approximately 0.40% of Spirit Aerosystems worth $15,992,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SPR. Byrne Asset Management LLC lifted its holdings in shares of Spirit Aerosystems by 128.2% during the 1st 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 shares of 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 purchasing an additional 1,967 shares during the last quarter. Cetera Investment Advisers purchased a new stake in shares of Spirit Aerosystems during the 1st quarter valued at $211,000. KBC Group NV lifted its holdings in shares of 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 last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of Spirit Aerosystems by 10.0% during the 4th quarter. ProShare Advisors LLC now owns 7,731 shares of the aerospace company's stock valued at $263,000 after purchasing an additional 703 shares during the last quarter. Hedge funds and other institutional investors own 93.59% of the company's stock.

Spirit Aerosystems Stock Performance

Shares of SPR opened at $41.50 on Wednesday. Spirit Aerosystems Holdings, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $42.33. The company has a market capitalization of $4.87 billion, a P/E ratio of -2.07 and a beta of 1.70. The business's 50-day moving average is $39.49 and its two-hundred day moving average is $36.59.

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 during the quarter, compared to analysts' expectations of $1.82 billion. During the same quarter in the previous year, the business earned ($2.73) EPS. The firm's revenue for the quarter was up 9.6% on a year-over-year basis. Analysts forecast that Spirit Aerosystems Holdings, Inc. will post -11.88 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Wall Street Zen upgraded Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. Susquehanna raised their target price on 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 issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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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