Maple Rock Capital Partners Inc. reduced its stake in Spirit AeroSystems Holdings, Inc. (NYSE:SPR - Free Report) by 72.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,494,080 shares of the aerospace company's stock after selling 3,928,920 shares during the quarter. Spirit AeroSystems comprises approximately 1.4% of Maple Rock Capital Partners Inc.'s holdings, making the stock its 15th largest position. Maple Rock Capital Partners Inc. owned 1.28% of Spirit AeroSystems worth $48,573,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. Byrne Asset Management LLC purchased a new position in Spirit AeroSystems in the 2nd quarter worth approximately $30,000. Waldron Private Wealth LLC purchased a new position in Spirit AeroSystems in the 3rd quarter worth approximately $32,000. Quest Partners LLC purchased a new position in Spirit AeroSystems in the 3rd quarter worth approximately $49,000. Quarry LP raised its holdings in Spirit AeroSystems by 49.0% in the 2nd quarter. Quarry LP now owns 2,285 shares of the aerospace company's stock worth $75,000 after acquiring an additional 751 shares during the last quarter. Finally, KBC Group NV raised its holdings in Spirit AeroSystems by 20.1% in the 3rd quarter. KBC Group NV now owns 4,607 shares of the aerospace company's stock worth $150,000 after acquiring an additional 771 shares during the last quarter. 93.59% of the stock is owned by institutional investors.
Spirit AeroSystems Stock Performance
Shares of SPR traded up $0.51 during midday trading on Wednesday, hitting $32.94. 2,306,843 shares of the company traded hands, compared to its average volume of 2,953,802. The firm has a 50 day moving average of $32.05 and a 200-day moving average of $32.84. Spirit AeroSystems Holdings, Inc. has a 52 week low of $25.16 and a 52 week high of $37.08. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of -2.61 and a beta of 1.82.
Spirit AeroSystems (NYSE:SPR - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported ($3.03) EPS for the quarter, missing the consensus estimate of ($0.16) by ($2.87). The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.83 billion. Sell-side analysts predict 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 equities research analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Spirit AeroSystems in a research note on Monday. They set a "sell" rating for the company. Royal Bank of Canada reiterated a "sector perform" rating and set a $37.25 target price on shares of Spirit AeroSystems in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, Spirit AeroSystems currently has an average rating of "Hold" and a consensus price target of $35.67.
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Spirit AeroSystems Profile
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Free Report)
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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