Park Place Capital Corp Sells 563 Shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Park Place Capital Corp reduced its stake in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 36.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 965 shares of the aerospace company’s stock after selling 563 shares during the period. Park Place Capital Corp’s holdings in Spirit AeroSystems were worth $32,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Seven Eight Capital LP bought a new position in shares of Spirit AeroSystems in the fourth quarter worth about $5,694,000. Vanguard Group Inc. increased its stake in shares of Spirit AeroSystems by 1.0% in the first quarter. Vanguard Group Inc. now owns 10,954,485 shares of the aerospace company’s stock worth $395,128,000 after purchasing an additional 109,632 shares during the period. Norges Bank bought a new position in shares of Spirit AeroSystems in the fourth quarter worth about $62,432,000. Boulder Hill Capital Management LP bought a new position in shares of Spirit AeroSystems in the fourth quarter worth about $791,000. Finally, Allspring Global Investments Holdings LLC increased its stake 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 during the period. 93.59% of the stock is currently owned by institutional investors.

Spirit AeroSystems Price Performance

Shares of Spirit AeroSystems stock traded down $0.96 on Friday, hitting $34.32. 2,205,938 shares of the company’s stock traded hands, compared to its average volume of 4,076,775. The firm’s 50-day moving average price is $32.97 and its two-hundred day moving average price is $32.01. The stock has a market capitalization of $4.00 billion, a PE ratio of -3.95 and a beta of 1.84. Spirit AeroSystems Holdings, Inc. has a one year low of $14.65 and a one year high of $37.08.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings data on Tuesday, May 7th. The aerospace company reported ($3.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($3.49). The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same period in the prior year, the company posted ($1.69) EPS. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. On average, analysts forecast that Spirit AeroSystems Holdings, Inc. will post -3.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SPR shares. JPMorgan Chase & Co. restated a “neutral” rating and set a $37.00 price target (up from $36.00) on shares of Spirit AeroSystems in a research note on Monday, July 8th. Royal Bank of Canada boosted their price target on Spirit AeroSystems from $33.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 8th. Truist Financial lifted their price objective on Spirit AeroSystems from $30.00 to $35.00 and gave the company a “hold” rating in a report on Wednesday, July 17th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Spirit AeroSystems in a report on Monday, July 8th. Finally, Stifel Nicolaus lifted their price objective on Spirit AeroSystems from $34.00 to $37.25 and gave the company a “hold” rating in a report on Monday, July 8th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Spirit AeroSystems presently has an average rating of “Hold” and a consensus target price of $33.60.

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.