Insider Selling: Redwire Co. (NYSE:RDW) Major Shareholder Sells 72,415 Shares of Stock

Redwire Co. (NYSE:RDW) major shareholder Park Lp Genesis II sold 72,415 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $17.90, for a total value of $1,296,228.50. Following the completion of the transaction, the insider now owns 4,422,853 shares in the company, valued at approximately $79,169,068.70. This represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• 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 value of $1,802,000.00.
• On Monday, December 30th, Park Lp Genesis II sold 5,371 shares of Redwire stock. The shares were sold at an average price of $18.01, for a total transaction 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 transaction of $1,526,891.30.

Redwire Trading Down 3.5 %

Shares of NYSE:RDW opened at $16.22 on Thursday. Redwire Co. has a 12-month low of $2.68 and a 12-month high of $18.54. The stock’s 50-day moving average price is $12.68 and its 200-day moving average price is $8.96. The stock has a market capitalization of $1.08 billion, a P/E ratio of -13.40 and a beta of 2.17.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RDW. SG Americas Securities LLC lifted its stake in Redwire by 39.6% in the third quarter. SG Americas Securities LLC now owns 21,870 shares of the company’s stock worth $150,000 after acquiring an additional 6,200 shares during the period. 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 purchasing an additional 7,921 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of Redwire during the 2nd quarter valued at about $74,000. Penserra Capital Management LLC increased its position in shares of Redwire by 16.5% during the third quarter. Penserra Capital Management LLC now owns 74,626 shares of the company’s stock valued at $512,000 after buying an additional 10,558 shares during the period. Finally, Vontobel Holding Ltd. bought a new position in Redwire in the third quarter worth about $74,000. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Analysts Set New Price Targets

RDW has been the topic of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $18.00 target price on shares of Redwire in a research note on Wednesday, December 11th. Roth Mkm increased their target price on shares of Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 8th. B. Riley cut shares of Redwire from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $8.00 to $9.50 in a report on Tuesday, October 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $6.00 target price on shares of Redwire in a research report on Monday, September 30th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $10.13.

About Redwire

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.