Prudential Financial Inc. Sells 2,750 Shares of Redwire Co. (NYSE:RDW)

Prudential Financial Inc. decreased its position in Redwire Co. (NYSE:RDW) by 20.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 10,465 shares of the company’s stock after selling 2,750 shares during the period. Prudential Financial Inc.’s holdings in Redwire were worth $172,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its holdings in shares of Redwire by 45.7% during the fourth quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock valued at $72,000 after acquiring an additional 1,372 shares in the last quarter. US Bancorp DE purchased a new stake in Redwire during the 4th quarter valued at about $119,000. Stifel Financial Corp purchased a new position in Redwire in the 3rd quarter worth approximately $139,000. Quantbot Technologies LP purchased a new stake in shares of Redwire during the fourth quarter valued at $154,000. Finally, Arkadios Wealth Advisors purchased a new position in shares of Redwire during the fourth quarter valued at approximately $165,000. 8.10% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Redwire news, major shareholder Park Lp Genesis II sold 10,115 shares of Redwire stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $24.11, for a total value of $243,872.65. Following the completion of the transaction, the insider now directly owns 3,644,566 shares of the company’s stock, valued at $87,870,486.26. This trade represents a 0.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold 416,798 shares of company stock worth $8,961,141 in the last three months. 2.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

RDW has been the subject of several research reports. B. Riley reduced their price target on shares of Redwire from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, March 12th. HC Wainwright reaffirmed a “buy” rating and set a $26.00 target price on shares of Redwire in a report on Wednesday, March 12th. Cantor Fitzgerald reiterated an “overweight” rating and set a $28.00 price target on shares of Redwire in a research note on Tuesday, March 11th. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.71.

Redwire Price Performance

Shares of NYSE RDW opened at $9.22 on Friday. The firm has a fifty day moving average price of $13.88 and a 200-day moving average price of $13.17. The stock has a market cap of $696.41 million, a PE ratio of -7.62 and a beta of 2.51. Redwire Co. has a 1 year low of $3.39 and a 1 year high of $26.66.

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.