Park Place Capital Corp Lowers Stock Position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Park Place Capital Corp lowered its position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 50.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,528 shares of the aerospace company’s stock after selling 1,528 shares during the period. Park Place Capital Corp’s holdings in Spirit AeroSystems were worth $55,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SPR. Envestnet Asset Management Inc. increased its holdings in Spirit AeroSystems by 36.2% during the third quarter. Envestnet Asset Management Inc. now owns 531,141 shares of the aerospace company’s stock worth $8,573,000 after buying an additional 141,061 shares during the last quarter. Invesco Ltd. increased its holdings in Spirit AeroSystems by 3.1% during the third quarter. Invesco Ltd. now owns 644,950 shares of the aerospace company’s stock worth $10,409,000 after buying an additional 19,515 shares during the last quarter. Quadrature Capital Ltd increased its holdings in Spirit AeroSystems by 703.0% during the third quarter. Quadrature Capital Ltd now owns 118,894 shares of the aerospace company’s stock worth $1,919,000 after buying an additional 104,087 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Spirit AeroSystems during the third quarter worth about $6,748,000. Finally, Advisors Asset Management Inc. increased its holdings in Spirit AeroSystems by 4.2% during the third quarter. Advisors Asset Management Inc. now owns 23,604 shares of the aerospace company’s stock worth $381,000 after buying an additional 960 shares during the last quarter. Hedge funds and other institutional investors own 93.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Susquehanna raised their price objective on shares of Spirit AeroSystems from $33.00 to $40.00 and gave the stock a “positive” rating in a report on Friday, April 12th. Benchmark restated a “hold” rating on shares of Spirit AeroSystems in a report on Thursday, June 20th. StockNews.com lowered shares of Spirit AeroSystems from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. Stifel Nicolaus increased their target price on shares of Spirit AeroSystems from $30.00 to $34.00 and gave the stock a “hold” rating in a research report on Wednesday, March 20th. Finally, UBS Group increased their target price on shares of Spirit AeroSystems from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $32.89.

Spirit AeroSystems Stock Performance

Shares of SPR opened at $33.97 on Tuesday. Spirit AeroSystems Holdings, Inc. has a fifty-two week low of $14.65 and a fifty-two week high of $36.34. The firm has a 50 day moving average price of $31.32 and a 200-day moving average price of $31.18.

Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings data on Tuesday, May 7th. The aerospace company reported ($3.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($3.49). The firm had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.62 billion. The business’s revenue was up 19.0% on a year-over-year basis. During the same period last year, the firm posted ($1.69) EPS. Equities analysts expect that Spirit AeroSystems Holdings, Inc. will post -2.94 earnings per share for the current 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.