Spirit Aerosystems Holdings, Inc. $SPR Shares Bought by TIG Advisors LLC

Key Points

• TIG Advisors LLC has increased its stake in Spirit Aerosystems Holdings, Inc. by 18.3%, now holding approximately $70.89 million worth of the company's stock, which comprises 4.4% of TIG's portfolio.
• A number of institutional investors, including Royal Bank of Canada and Quarry LP, have also significantly increased their stakes in Spirit Aerosystems during the first quarter, indicating strong interest from institutional investors.
• Spirit Aerosystems reported a loss of ($3.34) EPS for the most recent quarter, falling short of analyst expectations, despite a revenue increase of 9.6% year-over-year.

TIG Advisors LLC increased its holdings in shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Free Report) by 18.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,057,216 shares of the aerospace company's stock after acquiring an additional 318,122 shares during the period. Spirit Aerosystems makes up approximately 4.4% of TIG Advisors LLC's portfolio, making the stock its 6th biggest holding. TIG Advisors LLC owned 1.75% of Spirit Aerosystems worth $70,892,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NBC Securities Inc. grew its holdings in Spirit Aerosystems by 113,966.7% in the first quarter. NBC Securities Inc. now owns 17,110 shares of the aerospace company's stock valued at $589,000 after purchasing an additional 17,095 shares during the last quarter. Twin Securities Inc. acquired a new stake in Spirit Aerosystems in the fourth quarter valued at $1,177,000. Northern Trust Corp grew its holdings in Spirit Aerosystems by 13.7% in the fourth quarter. Northern Trust Corp now owns 565,069 shares of the aerospace company's stock valued at $19,258,000 after purchasing an additional 68,183 shares during the last quarter. CSS LLC IL grew its holdings in Spirit Aerosystems by 147.6% in the fourth quarter. CSS LLC IL now owns 17,612 shares of the aerospace company's stock valued at $600,000 after purchasing an additional 10,500 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in Spirit Aerosystems in the fourth quarter valued at $1,965,000. Institutional investors and hedge funds own 93.59% of the company's stock.

Spirit Aerosystems Stock Performance

Shares of NYSE SPR traded down $0.12 during trading on Thursday, reaching $41.16. The stock had a trading volume of 1,199,950 shares, compared to its average volume of 1,179,279. The stock has a market cap of $4.83 billion, a PE ratio of -2.06 and a beta of 1.74. The firm's 50 day moving average price is $40.05 and its two-hundred day moving average price is $36.88. 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 issued its quarterly earnings data 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 company had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.82 billion. Spirit Aerosystems's revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($2.73) EPS. On average, research analysts expect that Spirit Aerosystems Holdings, Inc. will post -11.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

SPR has been the topic of a number of analyst reports. Wall Street Zen raised Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. Susquehanna lifted their price objective on Spirit Aerosystems from $37.00 to $40.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Spirit Aerosystems has a consensus rating of "Moderate Buy" and a consensus target price of $38.63.

About Spirit Aerosystems

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.