Insider Selling: Redwire Co. (NYSE:RDW) Major Shareholder Sells 100,000 Shares of Stock

Redwire Co. (NYSE:RDW) major shareholder Park Lp Genesis II sold 100,000 shares of Redwire stock in a transaction on 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 transaction, the insider now owns 4,007,489 shares in the company, valued at approximately $87,844,158.88. This trade represents a 2.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, January 21st, Park Lp Genesis II sold 150,000 shares of Redwire stock. The stock was sold at an average price of $19.61, for a total value of $2,941,500.00.
• 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 Friday, January 3rd, Park Lp Genesis II sold 72,415 shares of Redwire stock. The stock was 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 transaction 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

Shares of Redwire stock opened at $21.68 on Tuesday. The business has a 50-day simple moving average of $14.78 and a 200 day simple moving average of $9.89. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -17.91 and a beta of 2.17. Redwire Co. has a one year low of $2.76 and a one year high of $24.52.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on RDW shares. Roth Mkm boosted their target price on shares of Redwire from $10.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 8th. B. Riley raised Redwire from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $9.50 to $27.00 in a research note on Monday. Cantor Fitzgerald assumed coverage on Redwire in a research note on Friday. They set an “overweight” rating and a $28.00 target price for the company. Finally, HC Wainwright boosted their price target on Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $18.04.

Hedge Funds Weigh In On Redwire

Institutional investors have recently modified their holdings of the company. Vontobel Holding Ltd. bought a new stake in Redwire during the 3rd quarter valued at $74,000. The Manufacturers Life Insurance Company acquired a new position in shares of Redwire during the second quarter valued at about $74,000. AQR Capital Management LLC bought a new stake in shares of Redwire during the second quarter worth about $89,000. MetLife Investment Management LLC raised its holdings in shares of Redwire by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock worth $97,000 after acquiring an additional 7,921 shares during the last quarter. Finally, Stifel Financial Corp bought a new position in Redwire in the 3rd quarter valued at about $139,000. 8.10% of the stock is owned by institutional investors and hedge funds.

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.