Vanguard Group Inc. Acquires 101,620 Shares of Redwire Co. (NYSE:RDW)

Vanguard Group Inc. raised its stake in shares of Redwire Co. (NYSE:RDW) by 8.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,310,660 shares of the company’s stock after acquiring an additional 101,620 shares during the quarter. Vanguard Group Inc. owned approximately 1.97% of Redwire worth $21,573,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, major shareholder Park Lp Genesis II sold 100,000 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $21.92, for a total transaction of $2,192,000.00. Following the sale, the insider now directly owns 4,007,489 shares of the company’s stock, valued at $87,844,158.88. This trade represents a 2.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 416,798 shares of company stock valued at $8,961,141. Company insiders own 2.60% of the company’s stock.

Redwire Price Performance

NYSE:RDW opened at $10.13 on Wednesday. The company’s fifty day moving average price is $13.36 and its 200-day moving average price is $13.21. Redwire Co. has a 1-year low of $3.39 and a 1-year high of $26.66. The firm has a market capitalization of $765.86 million, a P/E ratio of -8.38 and a beta of 2.51.

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.