Redwire Co. (NYSE:RDW) Major Shareholder Park Lp Genesis II Sells 100,000 Shares

Redwire Co. (NYSE:RDW) major shareholder Park Lp Genesis II sold 100,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $18.02, for a total value of $1,802,000.00. Following the transaction, the insider now owns 4,322,853 shares in the company, valued at $77,897,811.06. This trade represents a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more 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 Friday, January 3rd, Park Lp Genesis II sold 72,415 shares of Redwire stock. The shares were sold at an average price of $17.90, for a total value of $1,296,228.50.
• 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 shares were sold at an average price of $16.99, for a total transaction of $1,526,891.30.

Redwire Price Performance

NYSE RDW traded down $0.68 during trading hours on Tuesday, hitting $16.78. The company’s stock had a trading volume of 1,248,455 shares, compared to its average volume of 1,272,799. The company’s 50 day simple moving average is $12.51 and its two-hundred day simple moving average is $8.88. Redwire Co. has a 12 month low of $2.68 and a 12 month high of $18.54. The company has a market cap of $1.12 billion, a P/E ratio of -13.87 and a beta of 2.17.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Roth Mkm boosted their target price on Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 8th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Redwire in a research report on Wednesday, December 11th. B. Riley cut shares of Redwire from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $8.00 to $9.50 in a report on Tuesday, October 29th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $6.00 price target on shares of Redwire in a report on Monday, September 30th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $10.13.

Institutional Investors Weigh In On Redwire

Several institutional investors and hedge funds have recently added to or reduced their stakes in RDW. The Manufacturers Life Insurance Company purchased a new position in shares of Redwire during the 2nd quarter worth $74,000. Vontobel Holding Ltd. bought a new stake in Redwire during the 3rd quarter valued at approximately $74,000. AQR Capital Management LLC bought a new position in Redwire in the 2nd quarter worth approximately $89,000. MetLife Investment Management LLC raised its position in shares of Redwire by 129.1% during the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock valued at $97,000 after buying an additional 7,921 shares during the last quarter. Finally, Stifel Financial Corp purchased a new position in shares of Redwire in the third quarter worth $139,000. Hedge funds and other institutional investors own 8.10% of the company’s stock.

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.