Redwire Co. (NYSE:RDW) Major Shareholder Sells $2,192,000.00 in Stock

Redwire Co. (NYSE:RDW) major shareholder Park Lp Genesis II sold 100,000 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $21.92, for a total value of $2,192,000.00. Following the sale, the insider now owns 4,007,489 shares of the company’s stock, valued at $87,844,158.88. This represents a 2.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Park Lp Genesis II also recently made the following trade(s):

• On Monday, January 27th, Park Lp Genesis II sold 100,000 shares of Redwire stock. The stock was sold at an average price of $22.73, for a total transaction of $2,273,000.00.
• On Tuesday, January 21st, Park Lp Genesis II sold 150,000 shares of Redwire stock. The stock was sold at an average price of $19.61, for a total transaction of $2,941,500.00.
• On Monday, January 6th, Park Lp Genesis II sold 100,000 shares of Redwire stock. The shares were sold at an average price of $18.02, for a total transaction of $1,802,000.00.
• On Friday, January 3rd, Park Lp Genesis II sold 72,415 shares of Redwire stock. The shares were sold at an average price of $17.90, for a total value of $1,296,228.50.
• On Monday, December 30th, Park Lp Genesis II sold 5,371 shares of Redwire stock. The stock was sold at an average price of $18.01, for a total value of $96,731.71.
• On Friday, December 27th, Park Lp Genesis II sold 89,870 shares of Redwire stock. The shares were sold at an average price of $16.99, for a total value of $1,526,891.30.

Redwire Stock Performance

RDW opened at $22.13 on Thursday. The company has a market capitalization of $1.47 billion, a P/E ratio of -18.28 and a beta of 2.17. The company has a 50-day moving average of $15.43 and a 200-day moving average of $10.17. Redwire Co. has a 1-year low of $2.76 and a 1-year high of $24.60.

Institutional Trading of Redwire

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Arkadios Wealth Advisors acquired a new position in shares of Redwire in the 4th quarter worth approximately $165,000. The Manufacturers Life Insurance Company acquired a new position in Redwire in the second quarter worth $74,000. Vontobel Holding Ltd. bought a new stake in Redwire during the third quarter valued at $74,000. AQR Capital Management LLC acquired a new stake in shares of Redwire during the second quarter worth $89,000. Finally, MetLife Investment Management LLC lifted its position in shares of Redwire by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock worth $97,000 after buying an additional 7,921 shares during the last quarter. 8.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RDW shares. B. Riley upgraded shares of Redwire from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $9.50 to $27.00 in a research note on Monday. Cantor Fitzgerald assumed coverage on shares of Redwire in a research note on Friday, January 24th. They set an “overweight” rating and a $28.00 price target on the stock. HC Wainwright upped their price objective on shares of Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, Roth Mkm boosted their price target on Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $18.04.

Redwire Company Profile

Redwire Corporation provides critical space solutions and space infrastructure for government and commercial customers in the United States, Europe, and internationally. The company provides avionics and sensors including star trackers, sun sensors, critical for navigation, and control of spacecraft; camera systems; solar array solutions for spacecraft spanning the spectrum of size, power needs, and orbital location; and strain composite booms, coilable booms, truss structures, telescope baffles, and deployable booms to position sensors or solar arrays away from the spacecraft.