Seven Eight Capital LP Sells 196,570 Shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Seven Eight Capital LP lessened its position in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 93.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and 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 reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Spirit AeroSystems during the first quarter worth about $25,000. Principal Securities Inc. acquired a new position in Spirit AeroSystems during the 4th quarter worth approximately $26,000. Byrne Asset Management LLC bought a new position in shares of Spirit AeroSystems during the 2nd quarter worth approximately $30,000. Riverview Trust Co acquired a new stake in shares of Spirit AeroSystems in the first quarter valued at approximately $35,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Spirit AeroSystems by 148.7% in 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 in the last quarter. Institutional investors own 93.59% of the company’s stock.

Spirit AeroSystems Stock Performance

NYSE SPR opened at $33.12 on Monday. The stock has a market cap of $3.86 billion, a PE ratio of -3.81 and a beta of 1.85. The firm has a 50-day moving average of $34.43 and a 200-day moving average of $33.23. Spirit AeroSystems Holdings, Inc. has a 52-week low of $14.65 and a 52-week high of $37.08.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on SPR. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Spirit AeroSystems in a research report on Monday, July 8th. Truist Financial lifted their target price on Spirit AeroSystems from $30.00 to $35.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. Stifel Nicolaus increased their price target on Spirit AeroSystems from $34.00 to $37.25 and gave the company a “hold” rating in a research report on Monday, July 8th. StockNews.com initiated coverage on Spirit AeroSystems in a research note on Saturday. They issued a “sell” rating for the company. Finally, Citigroup reiterated a “neutral” rating and set a $37.25 price objective (down previously from $39.00) on shares of Spirit AeroSystems in a research note on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $35.38.

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.