Alpine Associates Management Inc. Makes New Investment in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Alpine Associates Management Inc. acquired a new stake in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 2,377,600 shares of the aerospace company's stock, valued at approximately $77,296,000. Spirit AeroSystems makes up 3.5% of Alpine Associates Management Inc.'s portfolio, making the stock its 11th biggest position. Alpine Associates Management Inc. owned approximately 2.04% of Spirit AeroSystems at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Byrne Asset Management LLC bought a new position in Spirit AeroSystems in the second quarter worth approximately $30,000. Waldron Private Wealth LLC bought a new position in shares of Spirit AeroSystems in the third quarter worth approximately $32,000. Allspring Global Investments Holdings LLC increased its position in shares of Spirit AeroSystems by 148.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company's stock valued at $44,000 after purchasing an additional 724 shares during the last quarter. Quest Partners LLC purchased a new position in Spirit AeroSystems in the 3rd quarter worth approximately $49,000. Finally, Quarry LP boosted its stake in shares of Spirit AeroSystems by 49.0% during the second quarter. Quarry LP now owns 2,285 shares of the aerospace company's stock valued at $75,000 after purchasing an additional 751 shares during the period. 93.59% of the stock is currently owned by institutional investors.

Spirit AeroSystems Stock Performance

Shares of NYSE SPR traded up $0.28 during midday trading on Wednesday, hitting $32.12. 436,981 shares of the stock traded hands, compared to its average volume of 3,007,104. The firm has a 50-day moving average of $32.22 and a two-hundred day moving average of $32.75. The firm has a market capitalization of $3.76 billion, a P/E ratio of -2.56 and a beta of 1.84. Spirit AeroSystems Holdings, Inc. has a one year low of $25.16 and a one year high of $37.08.

Spirit AeroSystems (NYSE:SPR - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The aerospace company reported ($3.03) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($2.87). The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.83 billion. Equities analysts forecast that Spirit AeroSystems Holdings, Inc. will post -12.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Royal Bank of Canada reiterated a "sector perform" rating and set a $37.25 target price on shares of Spirit AeroSystems in a report on Tuesday, August 20th. StockNews.com initiated coverage on shares of Spirit AeroSystems in a research report on Saturday. They set a "sell" rating on the stock. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Spirit AeroSystems currently has a consensus rating of "Hold" and a consensus price target of $35.67.

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.