Squarepoint Ops LLC lessened its stake in Astronics Co. (NASDAQ:ATRO) by 36.2% during the fourth quarter, HoldingsChannel reports. The firm owned 61,394 shares of the aerospace company’s stock after selling 34,778 shares during the period. Squarepoint Ops LLC’s holdings in Astronics were worth $812,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. Strs Ohio bought a new position in shares of Astronics in the third quarter worth $40,000. Citigroup Inc. increased its holdings in shares of Astronics by 89.6% in the fourth quarter. Citigroup Inc. now owns 4,792 shares of the aerospace company’s stock worth $63,000 after purchasing an additional 2,265 shares during the period. Jane Street Group LLC bought a new position in shares of Astronics in the third quarter worth $107,000. UBS Asset Management Americas Inc. bought a new position in shares of Astronics in the third quarter worth $121,000. Finally, ExodusPoint Capital Management LP increased its holdings in shares of Astronics by 130.3% in the third quarter. ExodusPoint Capital Management LP now owns 31,532 shares of the aerospace company’s stock worth $243,000 after purchasing an additional 17,843 shares during the period. 57.77% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ ATRO opened at $18.20 on Thursday. The company has a 50-day simple moving average of $17.20 and a two-hundred day simple moving average of $12.55. The company has a quick ratio of 1.51, a current ratio of 3.16 and a debt-to-equity ratio of 0.58. Astronics Co. has a 12-month low of $6.30 and a 12-month high of $19.58. The firm has a market cap of $562.27 million, a price-to-earnings ratio of -4.32 and a beta of 2.18.
Several research analysts have recently weighed in on the stock. Canaccord Genuity reaffirmed a “buy” rating on shares of Astronics in a report on Wednesday, March 24th. Zacks Investment Research upgraded shares of Astronics from a “sell” rating to a “hold” rating in a research report on Monday, February 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $14.00.
Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defence, and electronic industries in the United States, North America, Asia, Europe, South America, and internationally. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and motions systems, aircraft structures, avionics products, system certification, and other products.
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