Murchinson Ltd. Buys Shares of 50,000 Spirit Aerosystems Holdings, Inc. $SPR

Key Points

• Murchinson Ltd. has acquired a new stake in Spirit Aerosystems Holdings, purchasing 50,000 shares valued at approximately $1.7 million during the first quarter.
• Spirit Aerosystems recently reported disappointing earnings for the quarter, with a loss of $3.34 per share, missing estimates by $2.82, and revenue of $1.64 billion, falling short of expectations.
• Institutional investors own 93.59% of Spirit Aerosystems' stock, with other firms significantly increasing their positions in the company during the same period.

Murchinson Ltd. bought a new stake in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 50,000 shares of the aerospace company's stock, valued at approximately $1,723,000.

Other institutional investors have also added to or reduced their stakes in the company. Millennium Management LLC boosted its holdings in shares of Spirit Aerosystems by 51.9% in the 1st quarter. Millennium Management LLC now owns 2,545,611 shares of the aerospace company's stock valued at $87,722,000 after buying an additional 870,263 shares in the last quarter. AQR Arbitrage LLC grew its position in shares of Spirit Aerosystems by 73.9% in the 1st quarter. AQR Arbitrage LLC now owns 1,093,536 shares of the aerospace company's stock worth $37,640,000 after buying an additional 464,755 shares during the last quarter. Amundi grew its position in shares of Spirit Aerosystems by 24,236.6% in the 1st quarter. Amundi now owns 285,955 shares of the aerospace company's stock worth $9,262,000 after buying an additional 284,780 shares during the last quarter. TIG Advisors LLC grew its position in shares of Spirit Aerosystems by 18.3% in the 1st quarter. TIG Advisors LLC now owns 2,057,216 shares of the aerospace company's stock worth $70,892,000 after buying an additional 318,122 shares during the last quarter. Finally, Royal Bank of Canada grew its position in shares of Spirit Aerosystems by 56.6% in the 1st quarter. Royal Bank of Canada now owns 1,032,014 shares of the aerospace company's stock worth $35,563,000 after buying an additional 372,931 shares during the last quarter. Hedge funds and other institutional investors own 93.59% of the company's stock.

Spirit Aerosystems Stock Up 0.7%

Shares of Spirit Aerosystems stock traded up $0.27 during trading hours on Thursday, reaching $40.85. 299,756 shares of the company's stock were exchanged, compared to its average volume of 1,166,490. 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 $4.80 billion, a P/E ratio of -2.04 and a beta of 1.74. The business has a fifty day moving average of $40.33 and a two-hundred day moving average of $37.10.

Spirit Aerosystems (NYSE:SPR - Get Free Report) last announced 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 for the quarter, compared to analysts' expectations of $1.82 billion. The company's revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the firm posted ($2.73) earnings per share. As a group, research analysts predict that Spirit Aerosystems Holdings, Inc. will post -11.88 EPS for the current year.

Analyst Upgrades and Downgrades

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