Quarry LP Has $7.01 Million Stock Position in Spirit Aerosystems Holdings, Inc. $SPR

Key Points

• Quarry LP significantly increased its stake in Spirit Aerosystems, now owning 203,434 shares, which represents approximately $7.01 million following a dramatic rise of 11,485.1% in the first quarter.
• Spirit Aerosystems faced disappointing earnings, reporting a loss of ($3.34) EPS for the last quarter, falling short of the estimated loss of ($0.52), with total revenue of $1.64 billion.
• Wall Street analysts have mixed views on Spirit Aerosystems, with one brokerage upgrading it to a hold rating, while the average target price is set at $38.63.

Quarry LP boosted its position in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) by 11,485.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 203,434 shares of the aerospace company's stock after purchasing an additional 201,678 shares during the period. Spirit Aerosystems comprises 1.5% of Quarry LP's holdings, making the stock its 7th largest position. Quarry LP owned approximately 0.17% of Spirit Aerosystems worth $7,010,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in SPR. Byrne Asset Management LLC increased its holdings 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 worth $161,000 after purchasing an additional 2,629 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Spirit Aerosystems by 48.0% in the 1st quarter. Russell Investments Group Ltd. now owns 6,061 shares of the aerospace company's stock valued at $209,000 after acquiring an additional 1,967 shares in the last quarter. Cetera Investment Advisers bought a new position in shares of Spirit Aerosystems in the 1st quarter valued at about $211,000. KBC Group NV grew its holdings in shares of Spirit Aerosystems by 23.1% in the 1st quarter. KBC Group NV now owns 7,055 shares of the aerospace company's stock valued at $243,000 after acquiring an additional 1,322 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of 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 acquiring an additional 703 shares in the last quarter. Institutional investors own 93.59% of the company's stock.

Spirit Aerosystems Stock Performance

Shares of NYSE:SPR opened at $41.63 on Friday. Spirit Aerosystems Holdings, Inc. has a 52-week low of $27.00 and a 52-week high of $42.33. The company has a market capitalization of $4.89 billion, a P/E ratio of -2.08 and a beta of 1.70. The company has a 50-day simple moving average of $39.78 and a 200 day simple moving average of $36.75.

Spirit Aerosystems (NYSE:SPR - Get Free Report) last issued its earnings results on Tuesday, August 5th. The aerospace company reported ($3.34) earnings per share (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 analyst estimates of $1.82 billion. During the same period in the prior year, the business earned ($2.73) EPS. The business's revenue was up 9.6% compared to the same quarter last year. As a group, equities analysts forecast that Spirit Aerosystems Holdings, Inc. will post -11.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SPR. Susquehanna raised their price objective on Spirit Aerosystems from $37.00 to $40.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Wall Street Zen upgraded Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $38.63.

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.

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