Is Spirit AeroSystems Holdings, Inc. (SPR) A Good Stock To Buy?

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A whopping number of 13F filings filed with U.S. Securities and Exchange Commission has been processed by Insider Monkey so that individual investors can look at the overall hedge fund sentiment towards the stocks included in their watchlists. These freshly-submitted public filings disclose money managers’ equity positions as of the end of the three-month period that ended September 30, so let’s proceed with the discussion of the hedge fund sentiment on Spirit AeroSystems Holdings, Inc. (NYSE:SPR).

Spirit AeroSystems Holdings, Inc. (NYSE:SPR) was in 50 hedge funds’ portfolios at the end of September. SPR investors should pay attention to an increase in support from the world’s most elite money managers in recent months. There were 45 hedge funds in our database with SPR holdings at the end of the previous quarter. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Envision Healthcare Holdings Inc (NYSE:EVHC), Harman International Industries Inc./DE/ (NYSE:HAR), and IDEXX Laboratories, Inc. (NASDAQ:IDXX) to gather more data points.

Follow Spirit Aerosystems Holdings Inc. (NYSE:SPR)

To the average investor there are tons of formulas shareholders employ to analyze stocks. A duo of the less utilized formulas are hedge fund and insider trading moves. Our experts have shown that, historically, those who follow the best picks of the top fund managers can outperform the broader indices by a significant margin (see the details here).

With all of this in mind, let’s take a glance at the key action encompassing Spirit AeroSystems Holdings, Inc. (NYSE:SPR).

What have hedge funds been doing with Spirit AeroSystems Holdings, Inc. (NYSE:SPR)?

Heading into Q4, a total of 50 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 11% from the previous quarter. With the smart money’s capital changing hands, there exists an “upper tier” of notable hedge fund managers who were boosting their stakes meaningfully (or already accumulated large positions).

According to Insider Monkey’s hedge fund database, Matt Sirovich and Jeremy Mindich’s Scopia Capital has the biggest position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR), worth close to $720.6 million, corresponding to 15.5% of its total 13F portfolio. On Scopia Capital’s heels is Hound Partners, managed by Jonathan Auerbach, which holds a $556.3 million position; the fund has 12% of its 13F portfolio invested in the stock. Other peers that are bullish contain D E Shaw, Anand Desai’s Darsana Capital Partners and Cliff Asness’ AQR Capital Management.

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