Insider Selling: Redwire Co. (NYSE:RDW) Major Shareholder Sells 72,415 Shares of Stock

Redwire Co. (NYSE:RDW) major shareholder Park Lp Genesis II sold 72,415 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $17.90, for a total value of $1,296,228.50. Following the sale, the insider now directly owns 4,422,853 shares in the company, valued at $79,169,068.70. This represents a 1.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Park Lp Genesis II also recently made the following trade(s):

• On Monday, January 6th, Park Lp Genesis II sold 100,000 shares of Redwire stock. The shares were sold at an average price of $18.02, for a total value of $1,802,000.00.
• On Monday, December 30th, Park Lp Genesis II sold 5,371 shares of Redwire stock. The stock was sold at an average price of $18.01, for a total value of $96,731.71.
• On Friday, December 27th, Park Lp Genesis II sold 89,870 shares of Redwire stock. The stock was sold at an average price of $16.99, for a total transaction of $1,526,891.30.

Redwire Stock Performance

Shares of NYSE:RDW traded down $0.68 during mid-day trading on Tuesday, reaching $16.78. 1,248,455 shares of the company’s stock were exchanged, compared to its average volume of 1,272,799. Redwire Co. has a twelve month low of $2.68 and a twelve month high of $18.54. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -13.87 and a beta of 2.17. The business’s fifty day moving average price is $12.51 and its 200-day moving average price is $8.88.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RDW. Barclays PLC raised its position in shares of Redwire by 55.8% in the 3rd quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock worth $8,115,000 after acquiring an additional 422,854 shares in the last quarter. Geode Capital Management LLC grew its position in Redwire by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock valued at $3,599,000 after purchasing an additional 30,963 shares during the period. State Street Corp raised its holdings in shares of Redwire by 8.1% in the 3rd quarter. State Street Corp now owns 473,295 shares of the company’s stock worth $3,252,000 after acquiring an additional 35,519 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Redwire in the third quarter worth approximately $623,000. Finally, Penserra Capital Management LLC raised its position in Redwire by 16.5% in the 3rd quarter. Penserra Capital Management LLC now owns 74,626 shares of the company’s stock valued at $512,000 after buying an additional 10,558 shares during the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RDW shares. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Redwire in a report on Wednesday, December 11th. Roth Mkm upped their target price on Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. B. Riley lowered Redwire from a “buy” rating to a “neutral” rating and lifted their price target for the company from $8.00 to $9.50 in a research note on Tuesday, October 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $6.00 price target on shares of Redwire in a report on Monday, September 30th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Redwire presently has an average rating of “Moderate Buy” and an average target price of $10.13.

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.