Sand Grove Capital Management LLP Takes $14.10 Million Position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Sand Grove Capital Management LLP bought a new stake in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 433,669 shares of the aerospace company's stock, valued at approximately $14,099,000. Spirit AeroSystems comprises approximately 5.5% of Sand Grove Capital Management LLP's portfolio, making the stock its 11th largest holding. Sand Grove Capital Management LLP owned approximately 0.37% of Spirit AeroSystems at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SPR. The Manufacturers Life Insurance Company increased its position in shares of Spirit AeroSystems by 1.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,001 shares of the aerospace company's stock worth $723,000 after purchasing an additional 332 shares during the last quarter. Ensign Peak Advisors Inc raised its position in shares of Spirit AeroSystems by 1.4% in the second quarter. Ensign Peak Advisors Inc now owns 35,466 shares of the aerospace company's stock valued at $1,166,000 after buying an additional 500 shares in the last quarter. Inspire Investing LLC grew its holdings in shares of Spirit AeroSystems by 6.4% during the 2nd quarter. Inspire Investing LLC now owns 10,689 shares of the aerospace company's stock worth $351,000 after purchasing an additional 643 shares in the last quarter. Arizona State Retirement System increased its holdings in Spirit AeroSystems by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 32,537 shares of the aerospace company's stock valued at $1,069,000 after buying an additional 724 shares during the period. Finally, Quarry LP raised its position in 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 in the last quarter. 93.59% of the stock is owned by institutional investors.

Spirit AeroSystems Stock Down 1.2 %

Shares of SPR stock traded down $0.39 on Thursday, hitting $32.56. The stock had a trading volume of 270,694 shares, compared to its average volume of 2,946,880. The business has a 50 day moving average price of $32.05 and a 200 day moving average price of $32.84. The company has a market cap of $3.81 billion, a PE ratio of -2.63 and a beta of 1.82. 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 quarterly earnings results on Wednesday, October 23rd. The aerospace company reported ($3.03) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($2.87). The firm had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.83 billion. Equities research analysts expect that Spirit AeroSystems Holdings, Inc. will post -12.76 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the company. StockNews.com initiated coverage on Spirit AeroSystems in a research report on Monday. They issued a "sell" rating for the company. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $37.25 price target on shares of Spirit AeroSystems in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average 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.