Insider Selling: Redwire Co. (NYSE:RDW) Major Shareholder Sells $1,802,000.00 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 Monday, January 6th. The shares were sold at an average price of $18.02, for a total transaction of $1,802,000.00. Following the sale, the insider now owns 4,322,853 shares of the company’s stock, valued at $77,897,811.06. This trade represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• 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 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 stock was sold at an average price of $16.99, for a total value of $1,526,891.30.

Redwire Stock Performance

Shares of NYSE:RDW opened at $16.22 on Friday. The business has a fifty day moving average of $12.85 and a 200-day moving average of $9.01. The firm has a market cap of $1.08 billion, a PE ratio of -13.40 and a beta of 2.17. Redwire Co. has a twelve month low of $2.68 and a twelve month high of $18.54.

Institutional Investors Weigh In On Redwire

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. bought a new stake in shares of Redwire during the third quarter valued at approximately $74,000. The Manufacturers Life Insurance Company acquired a new stake in Redwire in the second quarter worth about $74,000. AQR Capital Management LLC bought a new stake in shares of Redwire during the second quarter worth approximately $89,000. MetLife Investment Management LLC lifted its holdings in Redwire by 129.1% in the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock valued at $97,000 after buying an additional 7,921 shares during the period. Finally, Stifel Financial Corp bought a new position in Redwire in the third quarter valued at approximately $139,000. Institutional investors and hedge funds own 8.10% of the company’s stock.

Wall Street Analysts Forecast Growth

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