Sand Grove Capital Management LLP Cuts Position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Sand Grove Capital Management LLP decreased its holdings in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR - Free Report) by 18.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 353,154 shares of the aerospace company's stock after selling 80,515 shares during the quarter. Spirit AeroSystems accounts for approximately 5.8% of Sand Grove Capital Management LLP's holdings, making the stock its 9th biggest position. Sand Grove Capital Management LLP owned approximately 0.30% of Spirit AeroSystems worth $12,035,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Spirit AeroSystems by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 10,802,296 shares of the aerospace company's stock worth $368,142,000 after purchasing an additional 203,549 shares in the last quarter. Pentwater Capital Management LP boosted its stake in shares of Spirit AeroSystems by 1.3% during the 4th quarter. Pentwater Capital Management LP now owns 9,220,000 shares of the aerospace company's stock valued at $314,218,000 after buying an additional 120,000 shares during the period. National Bank of Canada FI grew its holdings in shares of Spirit AeroSystems by 47.2% during the 4th quarter. National Bank of Canada FI now owns 3,681,147 shares of the aerospace company's stock valued at $125,453,000 after acquiring an additional 1,181,147 shares in the last quarter. Norges Bank purchased a new position in Spirit AeroSystems in the fourth quarter valued at about $105,879,000. Finally, Alpine Associates Management Inc. raised its stake in shares of Spirit AeroSystems by 30.1% during the 4th quarter. Alpine Associates Management Inc. now owns 3,092,584 shares of the aerospace company's stock worth $105,395,000 after purchasing an additional 714,984 shares in the last quarter. 93.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on SPR. Royal Bank of Canada reissued a "sector perform" rating and issued a $37.25 target price on shares of Spirit AeroSystems in a research report on Tuesday, February 11th. Wall Street Zen assumed coverage on Spirit AeroSystems in a report on Saturday, March 8th. They set a "hold" rating on the stock. Fourteen investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $36.56.

Spirit AeroSystems Stock Performance

NYSE SPR traded up $0.20 during trading hours on Thursday, reaching $37.25. 293,283 shares of the company's stock were exchanged, compared to its average volume of 1,960,225. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of -3.00 and a beta of 1.63. The company's 50-day moving average is $34.63 and its two-hundred day moving average is $33.76. Spirit AeroSystems Holdings, Inc. has a one year low of $27.00 and a one year high of $37.88.

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 the consensus estimate of ($1.14) by ($3.11). The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period last year, the company earned ($3.93) earnings per share. The firm's quarterly revenue was down 10.6% compared to the same quarter last year. Research analysts predict that Spirit AeroSystems Holdings, Inc. will post -11.88 earnings per share for the current fiscal year.

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.