Is Spirit AeroSystems Holdings, Inc. (NYSE:SPR) a buy?
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Thus, it’s important to analyze the newest info for Spirit AeroSystems Holdings, Inc. (NYSE:SPR).
How are hedge funds trading Spirit AeroSystems Holdings, Inc. (NYSE:SPR)?
At the end of the second quarter, a total of 29 of the hedge funds we track were long in this stock, a change of -9% from one quarter earlier. With hedgies’ sentiment swirling, there exists a few notable hedge fund managers who were increasing their stakes substantially.
According to our 13F database, Matt Sirovich and Jeremy Mindich’s Scopia Capital had the most valuable position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR), worth close to $395.4 million, comprising 11% of its total 13F portfolio. On Scopia Capital’s heels is Owl Creek Asset Management, managed by Jeffrey Altman, which held a $123.9 million position; the fund has 6.5% of its 13F portfolio invested in the stock. Some other hedge funds that are bullish include William B. Gray’s Orbis Investment Management, Anthony Bozza’s Lakewood Capital Management and Eric Mindich’s Eton Park Capital.
Because Spirit AeroSystems Holdings, Inc. (NYSE:SPR) has experienced declining interest from the top-tier hedge fund industry, it’s safe to say that there exists a select few hedgies who were dropping their positions entirely heading into Q2. It’s worth mentioning that Youlia Miteva’s Proxima Capital Management cut the largest position of all the hedgies we track, valued at about $13.1 million in stock. Neil Chriss’s fund, Hutchin Hill Capital, also sold off its stock, about $3.8 million worth. These moves are intriguing to say the least, as total hedge fund interest was cut by 3 funds heading into Q2.
What do corporate executives and insiders think about Spirit AeroSystems Holdings, Inc. (NYSE:SPR)?
Legal insider trading, particularly when it’s bullish, is particularly usable when the company we’re looking at has experienced transactions within the past 180 days. Over the last 180-day time frame, Spirit AeroSystems Holdings, Inc. (NYSE:SPR) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll also take a look at the relationship between both of these indicators in other stocks similar to Spirit AeroSystems Holdings, Inc. (NYSE:SPR). These stocks are Alliant Techsystems Inc. (NYSE:ATK), CAE, Inc. (USA) (NYSE:CAE), Teledyne Technologies Incorporated (NYSE:TDY), Hexcel Corporation (NYSE:HXL), and Huntington Ingalls Industries Inc (NYSE:HII). All of these stocks are in the aerospace/defense products & services industry and their market caps match SPR’s market cap.