Seven Eight Capital LP Has $467,000 Stake in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Seven Eight Capital LP lessened its holdings in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 93.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,200 shares of the aerospace company’s stock after selling 196,570 shares during the period. Seven Eight Capital LP’s holdings in Spirit AeroSystems were worth $467,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. MCF Advisors LLC grew its position in Spirit AeroSystems by 0.8% during the first quarter. MCF Advisors LLC now owns 41,228 shares of the aerospace company’s stock worth $1,487,000 after buying an additional 343 shares in the last quarter. Mystic Asset Management Inc. grew its holdings in shares of Spirit AeroSystems by 0.7% during the 1st quarter. Mystic Asset Management Inc. now owns 52,847 shares of the aerospace company’s stock worth $1,906,000 after purchasing an additional 346 shares in the last quarter. Treasurer of the State of North Carolina increased its position in shares of Spirit AeroSystems by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 46,362 shares of the aerospace company’s stock worth $1,473,000 after purchasing an additional 460 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Spirit AeroSystems in the first quarter valued at about $25,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Spirit AeroSystems by 148.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company’s stock worth $44,000 after purchasing an additional 724 shares during the period. 93.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

SPR has been the subject of several analyst reports. UBS Group boosted their target price on shares of Spirit AeroSystems from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, July 1st. JPMorgan Chase & Co. restated a “neutral” rating and set a $37.00 price objective (up from $36.00) on shares of Spirit AeroSystems in a research report on Monday, July 8th. Citigroup reaffirmed a “neutral” rating and issued a $37.25 target price (down previously from $39.00) on shares of Spirit AeroSystems in a report on Wednesday, July 3rd. Benchmark reissued a “hold” rating on shares of Spirit AeroSystems in a report on Thursday, June 20th. Finally, StockNews.com initiated coverage on Spirit AeroSystems in a research note on Saturday. They issued a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $35.38.

Spirit AeroSystems Price Performance

Shares of NYSE SPR opened at $33.12 on Monday. Spirit AeroSystems Holdings, Inc. has a 1 year low of $14.65 and a 1 year high of $37.08. The firm has a market cap of $3.86 billion, a PE ratio of -3.81 and a beta of 1.85. The company has a 50 day simple moving average of $34.43 and a 200 day simple moving average of $33.23.

Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings results on Monday, August 5th. The aerospace company reported ($2.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.98) by ($1.75). The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the previous year, the business posted ($1.46) EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, research analysts anticipate that Spirit AeroSystems Holdings, Inc. will post -4.21 earnings per share for the current fiscal year.

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.