Spirit Aerosystems Holdings, Inc. $SPR Shares Sold by Valueworks LLC

Key Points

• Valueworks LLC reduced its stake in Spirit Aerosystems Holdings, Inc. by 37.0%, now holding 145,980 shares which represent 1.9% of its portfolio.
• Spirit Aerosystems reported an earnings miss with a loss of ($3.34) per share, falling short of expectations by ($2.82).
• A variety of hedge funds have increased their investments in Spirit Aerosystems, with Byrne Asset Management boosting its position by 128.2% in the first quarter.

Valueworks LLC decreased its position in Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) by 37.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 145,980 shares of the aerospace company's stock after selling 85,710 shares during the quarter. Spirit Aerosystems accounts for approximately 1.9% of Valueworks LLC's holdings, making the stock its 23rd largest position. Valueworks LLC owned 0.12% of Spirit Aerosystems worth $5,030,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Byrne Asset Management LLC grew its position 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 in the last quarter. Russell Investments Group Ltd. grew its position 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 in the last quarter. Cetera Investment Advisers acquired a new position in shares of Spirit Aerosystems in the 1st quarter worth approximately $211,000. KBC Group NV boosted its position in Spirit Aerosystems by 23.1% during the 1st quarter. KBC Group NV now owns 7,055 shares of the aerospace company's stock valued at $243,000 after purchasing an additional 1,322 shares during the period. Finally, AlphaQuest LLC acquired a new position in Spirit Aerosystems during the 1st quarter valued at approximately $266,000. Institutional investors and hedge funds own 93.59% of the company's stock.

Spirit Aerosystems Price Performance

Shares of Spirit Aerosystems stock opened at $40.88 on Friday. The business's fifty day moving average price is $39.34 and its two-hundred day moving average price is $36.50. The company has a market capitalization of $4.80 billion, a P/E ratio of -2.04 and a beta of 1.70. Spirit Aerosystems Holdings, Inc. has a 1-year low of $27.00 and a 1-year high of $42.33.

Spirit Aerosystems (NYSE:SPR - Get Free Report) last announced its 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 business had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.82 billion. Spirit Aerosystems's quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($2.73) earnings per share. On average, research analysts expect that Spirit Aerosystems Holdings, Inc. will post -11.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SPR. Wall Street Zen upgraded Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. Susquehanna boosted their price objective on Spirit Aerosystems from $37.00 to $40.00 and gave the company a "neutral" rating in a research 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 MarketBeat, the stock 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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