Hound Partners Lowers stake in Spirit AeroSystems Holdings (SPR)

Spirit AeroSystems Holdings (SPR) : Hound Partners reduced its stake in Spirit AeroSystems Holdings by 7.71% during the most recent quarter end. The investment management company now holds a total of 10,708,586 shares of Spirit AeroSystems Holdings which is valued at $474,711,617 after selling 895,222 shares in Spirit AeroSystems Holdings , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Spirit AeroSystems Holdings makes up approximately 14.52% of Hound Partners’s portfolio.

Other Hedge Funds, Including , Pine River Capital Management sold out all of its stake in SPR during the most recent quarter. The investment firm sold 26,400 shares of SPR which is valued $1,170,312.Parametric Portfolio Associates reduced its stake in SPR by selling 21,224 shares or 8.56% in the most recent quarter. The Hedge Fund company now holds 226,731 shares of SPR which is valued at $10,050,985. Spirit AeroSystems Holdings makes up approx 0.02% of Parametric Portfolio Associates’s portfolio. Dynamic Technology Lab Private Ltd sold out all of its stake in SPR during the most recent quarter. The investment firm sold 16,024 shares of SPR which is valued $710,344. New Jersey Better Educational Savings Trust added SPR to its portfolio by purchasing 18,000 company shares during the most recent quarter which is valued at $828,180. Spirit AeroSystems Holdings makes up approx 0.53% of New Jersey Better Educational Savings Trust’s portfolio. Parkwood added SPR to its portfolio by purchasing 15,475 company shares during the most recent quarter which is valued at $674,865. Spirit AeroSystems Holdings makes up approx 0.11% of Parkwood’s portfolio.

Spirit AeroSystems Holdings closed down -0.12 points or -0.26% at $45.7 with 9,28,878 shares getting traded on Thursday. Post opening the session at $45.76, the shares hit an intraday low of $45.01 and an intraday high of $45.78 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Spirit AeroSystems Holdings reported $1.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $1.06. The company had revenue of $1829.90 million for the quarter, compared to analysts expectations of $1683.23 million. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 EPS.

Many Wall Street Analysts have commented on Spirit AeroSystems Holdings. Spirit AeroSystems Holdings was Downgraded by Wells Fargo to ” Market Perform” on Jun 30, 2016. Spirit AeroSystems Holdings was Initiated by Morgan Stanley to “Overweight” on Jun 23, 2016. Spirit AeroSystems Holdings was Upgraded by Buckingham Research to ” Neutral” on Jun 9, 2016.

Spirit AeroSystems Holdings Inc. is an independent non-original equipment manufacturer (OEM) aircraft parts designer and manufacturer of commercial aero structures. The Company operates in three segments: Fuselage Systems Propulsion Systems and Wing Systems. Fuselage Systems segment develops produces and markets forward mid and rear fuselage sections and systems primarily to aircraft OEMs as well as related spares and maintenance repair and overhaul support and services (MRO). The Propulsion Systems segment develops produces and markets struts/pylons nacelles (including thrust reversers) and related engine structural components primarily to aircraft or engine OEMs as well as related spares and MRO services. The Wing Systems segment develops produces and markets forward wings and wing components (including flight control surfaces) and other miscellaneous structural parts primarily to aircraft OEMs as well as related spares and MRO services.

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