Redwire Co. (NYSE:RDW) Major Shareholder Sells $1,526,891.30 in Stock

Redwire Co. (NYSE:RDW) major shareholder Park Lp Genesis II sold 89,870 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $16.99, for a total value of $1,526,891.30. Following the sale, the insider now owns 4,603,427 shares in the company, valued at approximately $78,212,224.73. This represents a 1.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• 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 transaction of $96,731.71.

Redwire Stock Down 6.7 %

Shares of NYSE RDW traded down $1.19 during trading hours on Tuesday, reaching $16.46. 1,453,041 shares of the stock traded hands, compared to its average volume of 424,221. The company’s 50-day simple moving average is $11.69 and its two-hundred day simple moving average is $8.49. The company has a market capitalization of $1.10 billion, a P/E ratio of -13.60 and a beta of 2.25. Redwire Co. has a 52-week low of $2.68 and a 52-week high of $18.28.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RDW. Vontobel Holding Ltd. bought a new position in shares of Redwire during the 3rd quarter valued at $74,000. The Manufacturers Life Insurance Company purchased a new stake in Redwire during the second quarter valued at about $74,000. AQR Capital Management LLC bought a new position in shares of Redwire during the second quarter valued at about $89,000. MetLife Investment Management LLC increased its holdings in shares of Redwire by 129.1% in the third 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 period. Finally, Stifel Financial Corp bought a new stake in shares of Redwire in the 3rd quarter valued at about $139,000. 8.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $6.00 price target on shares of Redwire in a research report on Monday, September 30th. HC Wainwright restated a “buy” rating and issued a $18.00 target price on shares of Redwire in a research note on Wednesday, December 11th. Roth Mkm lifted their price target on Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, B. Riley cut shares of Redwire from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $8.00 to $9.50 in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $10.13.

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.