Redwire Co. (NYSE:RDW) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. reduced its holdings in Redwire Co. (NYSE:RDW) by 57.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,270 shares of the company’s stock after selling 20,920 shares during the quarter. Alliancebernstein L.P.’s holdings in Redwire were worth $251,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Summit Securities Group LLC bought a new stake in shares of Redwire during the fourth quarter valued at about $63,000. Jones Financial Companies Lllp lifted its stake in shares of Redwire by 45.7% in the 4th quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock worth $72,000 after acquiring an additional 1,372 shares during the period. US Bancorp DE bought a new position in shares of Redwire in the fourth quarter valued at approximately $119,000. Stifel Financial Corp acquired a new position in shares of Redwire during the 3rd quarter valued at $139,000. Finally, Quantbot Technologies LP bought a new stake in Redwire in the fourth quarter worth about $154,000. Institutional investors own 8.10% of the company’s stock.

Redwire Stock Performance

Shares of RDW opened at $9.35 on Tuesday. The company has a market capitalization of $706.61 million, a PE ratio of -7.73 and a beta of 2.51. The company’s 50 day moving average price is $12.32 and its 200 day moving average price is $13.34. Redwire Co. has a 52 week low of $3.54 and a 52 week high of $26.66.

Insider Buying and Selling

In other Redwire news, major shareholder Park Lp Genesis II sold 6,683 shares of Redwire stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $22.56, for a total value of $150,768.48. Following the completion of the sale, the insider now directly owns 3,704,664 shares in the company, valued at $83,577,219.84. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 266,798 shares of company stock worth $6,019,641. Corporate insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RDW. Alliance Global Partners restated a “buy” rating on shares of Redwire in a report on Tuesday, March 11th. Cantor Fitzgerald restated an “overweight” rating and issued a $28.00 target price on shares of Redwire in a report on Tuesday, March 11th. B. Riley reduced their target price on Redwire from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, March 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $26.00 price target on shares of Redwire in a research note on Wednesday, March 12th. 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 stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.71.

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.