Water Island Capital LLC Sells 55,065 Shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Water Island Capital LLC lessened its stake in Spirit AeroSystems Holdings, Inc. (NYSE:SPR - Free Report) by 87.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,887 shares of the aerospace company's stock after selling 55,065 shares during the quarter. Water Island Capital LLC's holdings in Spirit AeroSystems were worth $269,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. R Squared Ltd bought a new position in Spirit AeroSystems in the fourth quarter valued at about $30,000. SBI Securities Co. Ltd. acquired a new position in shares of Spirit AeroSystems during the fourth quarter worth $32,000. Headlands Technologies LLC bought a new position in shares of Spirit AeroSystems in the 4th quarter valued at $67,000. Byrne Asset Management LLC boosted its holdings in shares of Spirit AeroSystems by 210.6% during the 4th quarter. Byrne Asset Management LLC now owns 2,050 shares of the aerospace company's stock valued at $70,000 after acquiring an additional 1,390 shares in the last quarter. Finally, Vestcor Inc acquired a new position in Spirit AeroSystems in the 4th quarter worth about $97,000. Institutional investors own 93.59% of the company's stock.

Analyst Upgrades and Downgrades

SPR has been the topic of several research reports. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $37.25 price objective on shares of Spirit AeroSystems in a research note on Tuesday, February 11th. TD Cowen raised Spirit AeroSystems to a "strong-buy" rating in a report on Thursday, December 19th. Finally, StockNews.com initiated coverage on Spirit AeroSystems in a research report on Saturday, March 8th. They set a "hold" rating for the company. Fourteen analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $36.56.

Spirit AeroSystems Trading Up 0.9 %

Spirit AeroSystems stock traded up $0.32 during midday trading on Thursday, reaching $33.55. The stock had a trading volume of 273,281 shares, compared to its average volume of 2,035,359. The company has a fifty day moving average price of $33.66 and a two-hundred day moving average price of $33.12. The company has a market capitalization of $3.92 billion, a P/E ratio of -2.70 and a beta of 1.41. Spirit AeroSystems Holdings, Inc. has a 12 month low of $27.00 and a 12 month high of $37.08.

Spirit AeroSystems (NYSE:SPR - Get Free Report) last issued its earnings results on Friday, February 28th. The aerospace company reported ($4.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.86) by ($2.36). The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.94 billion. On average, equities 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.