Bares Capital Management Inc. Decreases Stock Position in Astronics Co. (NASDAQ:ATRO)

Bares Capital Management Inc. trimmed its holdings in shares of Astronics Co. (NASDAQ:ATRO) by 40.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 913,294 shares of the aerospace company’s stock after selling 624,813 shares during the period. Bares Capital Management Inc. owned 2.83% of Astronics worth $12,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of ATRO. ACK Asset Management LLC lifted its holdings in Astronics by 45.1% during the 1st quarter. ACK Asset Management LLC now owns 1,270,000 shares of the aerospace company’s stock worth $16,967,000 after buying an additional 395,000 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Astronics by 26.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,574,964 shares of the aerospace company’s stock worth $12,379,000 after buying an additional 330,858 shares during the last quarter. Morgan Stanley lifted its holdings in Astronics by 165.1% during the 4th quarter. Morgan Stanley now owns 293,843 shares of the aerospace company’s stock worth $3,027,000 after buying an additional 183,006 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Astronics during the 1st quarter worth about $1,919,000. Finally, Harbert Fund Advisors Inc. purchased a new stake in Astronics during the 4th quarter worth about $926,000. 56.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ATRO shares. Truist Financial boosted their target price on Astronics from $15.00 to $17.00 and gave the company a “hold” rating in a report on Friday, July 21st. StockNews.com started coverage on Astronics in a report on Thursday, August 17th. They issued a “buy” rating for the company.

Astronics Stock Up 0.7 %

Astronics stock opened at $16.82 on Tuesday. The company has a market capitalization of $547.26 million, a P/E ratio of -14.25 and a beta of 1.62. Astronics Co. has a fifty-two week low of $7.46 and a fifty-two week high of $22.44. The stock has a 50-day simple moving average of $18.53 and a 200-day simple moving average of $16.67. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.10 and a current ratio of 2.29.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings results on Thursday, August 3rd. The aerospace company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.34). The company had revenue of $174.45 million during the quarter, compared to analyst estimates of $172.33 million. Astronics had a negative net margin of 6.13% and a negative return on equity of 16.08%. Equities research analysts expect that Astronics Co. will post -0.41 earnings per share for the current year.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.