Pentwater Capital Management LP Increases Stake in Spirit Aerosystems Holdings, Inc. $SPR

Key Points

• Pentwater Capital Management LP increased its stake in Spirit Aerosystems Holdings, Inc. by 1.2%, acquiring an additional 110,000 shares, bringing its total ownership to 9,330,000 shares.
• Spirit Aerosystems reported a loss of $3.34 earnings per share (EPS) for its most recent quarter, missing the consensus estimate significantly.
• Major analysts have recently upgraded their ratings on Spirit Aerosystems, with Wall Street Zen changing its rating from "strong sell" to "hold" and Susquehanna raising its price target from $37.00 to $40.00.

Pentwater Capital Management LP lifted its holdings in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,330,000 shares of the aerospace company's stock after acquiring an additional 110,000 shares during the period. Spirit Aerosystems makes up 2.7% of Pentwater Capital Management LP's holdings, making the stock its 6th biggest holding. Pentwater Capital Management LP owned 7.96% of Spirit Aerosystems worth $321,512,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Byrne Asset Management LLC boosted its stake in 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. boosted its position in shares of Spirit Aerosystems by 48.0% during the first 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 during the last quarter. Cetera Investment Advisers purchased a new position in shares of Spirit Aerosystems during the first quarter valued at approximately $211,000. KBC Group NV grew its holdings in Spirit Aerosystems by 23.1% during the first quarter. KBC Group NV now owns 7,055 shares of the aerospace company's stock worth $243,000 after buying an additional 1,322 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in Spirit Aerosystems by 10.0% in the 4th quarter. ProShare Advisors LLC now owns 7,731 shares of the aerospace company's stock valued at $263,000 after buying an additional 703 shares during the last quarter. Institutional investors and hedge funds own 93.59% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on SPR shares. 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. Susquehanna boosted their price target on shares of Spirit Aerosystems from $37.00 to $40.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $38.63.

Spirit Aerosystems Trading Down 3.0%

Shares of NYSE SPR traded down $1.22 during midday trading on Thursday, hitting $39.36. The company's stock had a trading volume of 1,064,423 shares, compared to its average volume of 1,170,965. The firm has a market capitalization of $4.62 billion, a price-to-earnings ratio of -1.97 and a beta of 1.74. The stock has a fifty day moving average price of $40.33 and a 200 day moving average price of $37.10. Spirit Aerosystems Holdings, Inc. has a one year low of $27.00 and a one year high of $42.33.

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

Spirit Aerosystems Company 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.