Spirit Aerosystems Holdings, Inc. $SPR Stock Holdings Lifted by Magnetar Financial LLC

Key Points

• Magnetar Financial LLC has increased its stake in Spirit Aerosystems by 19.1%, holding over 1 million shares worth approximately $36.8 million, positioning the company as its 28th biggest investment.
• Spirit Aerosystems reported a significant EPS loss of ($3.34), falling short of analysts' estimates, with quarterly revenue at $1.64 billion, which is below the expected $1.82 billion.
• Despite recent earnings struggles, analysts maintain a "Moderate Buy" rating on Spirit Aerosystems' stock, with an average price target of $38.63.

Magnetar Financial LLC increased its stake in Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) by 19.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,067,468 shares of the aerospace company's stock after acquiring an additional 171,561 shares during the quarter. Spirit Aerosystems makes up 0.5% of Magnetar Financial LLC's holdings, making the stock its 28th largest holding. Magnetar Financial LLC owned about 0.91% of Spirit Aerosystems worth $36,785,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of SPR. Byrne Asset Management LLC grew its holdings in shares of Spirit Aerosystems by 128.2% in the 1st quarter. Byrne Asset Management LLC now owns 4,679 shares of the aerospace company's stock worth $161,000 after acquiring an additional 2,629 shares during 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 worth $209,000 after acquiring an additional 1,967 shares during the last quarter. Cetera Investment Advisers acquired a new position in shares of Spirit Aerosystems in the 1st quarter worth $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 worth $243,000 after acquiring an additional 1,322 shares during 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 worth $263,000 after acquiring an additional 703 shares during the last quarter. 93.59% of the stock is currently owned by institutional investors and hedge funds.

Spirit Aerosystems Stock Performance

Shares of SPR stock traded down $0.18 on Monday, reaching $41.63. 786,974 shares of the company's stock traded hands, compared to its average volume of 725,625. Spirit Aerosystems Holdings, Inc. has a 12-month low of $27.00 and a 12-month 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 1.74. The business's 50 day moving average price is $39.78 and its two-hundred day moving average price is $36.76.

Spirit Aerosystems (NYSE:SPR - Get Free Report) last issued 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 business had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.82 billion. During the same quarter in the prior year, the business earned ($2.73) EPS. Spirit Aerosystems's quarterly revenue was up 9.6% on a year-over-year basis. Research analysts predict that Spirit Aerosystems Holdings, Inc. will post -11.88 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SPR. Susquehanna lifted their price target 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 analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.