Insider Selling: Redwire Co. (NYSE:RDW) Major Shareholder Sells $2,273,000.00 in Stock

Redwire Co. (NYSE:RDW) major shareholder Park Lp Genesis II sold 100,000 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $22.73, for a total transaction of $2,273,000.00. Following the completion of the transaction, the insider now owns 3,854,041 shares of the company’s stock, valued at $87,602,351.93. This trade represents a 2.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 Thursday, January 23rd, Park Lp Genesis II sold 100,000 shares of Redwire stock. The shares were sold at an average price of $21.92, for a total transaction of $2,192,000.00.
• On Tuesday, January 21st, Park Lp Genesis II sold 150,000 shares of Redwire stock. The shares were 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 transaction of $1,296,228.50.
• 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 Stock Performance

Shares of NYSE:RDW opened at $23.79 on Friday. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of -19.66 and a beta of 2.17. Redwire Co. has a 1-year low of $2.77 and a 1-year high of $26.66. The company’s fifty day moving average is $15.86 and its two-hundred day moving average is $10.37.

Institutional Trading of Redwire

A number of institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC raised its holdings in shares of Redwire by 39.6% during the third quarter. SG Americas Securities LLC now owns 21,870 shares of the company’s stock worth $150,000 after purchasing an additional 6,200 shares during the period. MetLife Investment Management LLC raised its holdings in shares of Redwire by 129.1% during the third 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. Arkadios Wealth Advisors acquired a new stake in shares of Redwire during the fourth quarter worth $165,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Redwire during the second quarter worth $74,000. Finally, Penserra Capital Management LLC increased its holdings in shares of Redwire by 16.5% in the 3rd quarter. Penserra Capital Management LLC now owns 74,626 shares of the company’s stock worth $512,000 after acquiring an additional 10,558 shares during the period. 8.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. 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 objective on the stock. HC Wainwright increased their price objective on shares of Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. B. Riley upgraded shares of Redwire from a “neutral” rating to a “buy” rating and increased their price objective for the company from $9.50 to $27.00 in a research note on Monday, January 27th. Finally, Roth Mkm increased their price objective on shares of Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $18.04.

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.