Spirit Aerosystems Holdings, Inc. (NYSE:SPR) Shares Sold by Alpine Associates Management Inc.

Key Points

• Alpine Associates Management Inc. has reduced its stake in Spirit Aerosystems by 3.9%, retaining 2,972,104 shares, which constitutes 5.4% of its investment portfolio, making it the firm's 4th largest holding.
• Several institutional investors, including Norges Bank and Adage Capital Partners, have significantly increased their stakes in Spirit Aerosystems, reflecting growing interest among hedge funds.
• Spirit Aerosystems reported a loss per share of ($4.25), missing estimates, with a revenue of $1.52 billion, which is down 10.6% year over year.

Alpine Associates Management Inc. decreased its stake in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,972,104 shares of the aerospace company's stock after selling 120,480 shares during the quarter. Spirit Aerosystems makes up 5.4% of Alpine Associates Management Inc.'s investment portfolio, making the stock its 4th biggest holding. Alpine Associates Management Inc. owned approximately 2.53% of Spirit Aerosystems worth $102,419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of SPR. Headlands Technologies LLC acquired a new position in Spirit Aerosystems during the fourth quarter worth $67,000. Senator Investment Group LP grew its position in Spirit Aerosystems by 415.3% during the fourth quarter. Senator Investment Group LP now owns 92,000 shares of the aerospace company's stock valued at $124,000 after acquiring an additional 74,145 shares during the period. Byrne Asset Management LLC grew its position in Spirit Aerosystems by 128.2% during the first quarter. Byrne Asset Management LLC now owns 4,679 shares of the aerospace company's stock valued at $161,000 after acquiring an additional 2,629 shares during the period. Cetera Investment Advisers purchased a new stake in Spirit Aerosystems during the first quarter valued at about $211,000. Finally, Sterling Capital Management LLC grew its position in Spirit Aerosystems by 52.9% during the fourth quarter. Sterling Capital Management LLC now owns 6,317 shares of the aerospace company's stock valued at $215,000 after acquiring an additional 2,186 shares during the period. Hedge funds and other institutional investors own 93.59% of the company's stock.

Analyst Ratings Changes

Separately, Susquehanna boosted their price objective on Spirit Aerosystems from $37.00 to $40.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th.

Spirit Aerosystems Stock Performance

Shares of NYSE:SPR traded down $0.38 during trading on Friday, hitting $39.02. The company's stock had a trading volume of 590,980 shares, compared to its average volume of 759,047. The company has a market capitalization of $4.58 billion, a PE ratio of -2.14 and a beta of 1.70. Spirit Aerosystems Holdings, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $42.33. The stock's 50-day moving average price is $38.62 and its two-hundred day moving average price is $35.88.

Spirit Aerosystems (NYSE:SPR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The aerospace company reported ($4.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.14) by ($3.11). The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the business earned ($3.93) earnings per share. Spirit Aerosystems's quarterly revenue was down 10.6% on a year-over-year basis. On average, equities analysts predict that Spirit Aerosystems Holdings, Inc. will post -11.88 earnings per share for the current fiscal 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.