Rhumbline Advisers Increases Position in Redwire Co. (NYSE:RDW)

Rhumbline Advisers boosted its stake in shares of Redwire Co. (NYSE:RDW) by 64.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,335 shares of the company’s stock after buying an additional 12,703 shares during the quarter. Rhumbline Advisers’ holdings in Redwire were worth $232,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its position in shares of Redwire by 496.1% in the second quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock valued at $512,000 after purchasing an additional 59,372 shares during the last quarter. SG Americas Securities LLC grew its holdings in Redwire by 17.2% during the 2nd quarter. SG Americas Securities LLC now owns 15,670 shares of the company’s stock valued at $112,000 after buying an additional 2,296 shares during the last quarter. DNB Asset Management AS increased its position in Redwire by 23.9% during the second quarter. DNB Asset Management AS now owns 39,094 shares of the company’s stock worth $280,000 after buying an additional 7,538 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Redwire by 0.3% in the first quarter. Vanguard Group Inc. now owns 1,118,812 shares of the company’s stock worth $4,912,000 after acquiring an additional 3,681 shares during the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RDW has been the topic of several recent analyst reports. B. Riley raised shares of Redwire from a “neutral” rating to a “buy” rating and set a $8.00 price objective on the stock in a research note on Friday, August 9th. Cantor Fitzgerald restated an “overweight” rating and set a $6.00 price objective on shares of Redwire in a report on Monday, September 23rd. Finally, Alliance Global Partners upped their target price on Redwire from $7.00 to $8.25 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $7.65.

Insider Transactions at Redwire

In related news, Director Ae Red Holdings, Llc sold 94,579 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $7.88, for a total value of $745,282.52. Following the sale, the director now directly owns 35,923,576 shares in the company, valued at approximately $283,077,778.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders sold 238,732 shares of company stock worth $1,836,940. Company insiders own 2.60% of the company’s stock.

Redwire Stock Performance

NYSE:RDW opened at $7.14 on Friday. Redwire Co. has a one year low of $2.35 and a one year high of $8.23. The business’s 50-day simple moving average is $6.42 and its 200 day simple moving average is $5.55. The stock has a market cap of $475.10 million, a price-to-earnings ratio of -9.92 and a beta of 1.96.

Redwire (NYSE:RDW) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.15). The business had revenue of $78.11 million for the quarter, compared to analysts’ expectations of $66.86 million. On average, equities research analysts predict that Redwire Co. will post -0.87 EPS for the current year.

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.