Insider Selling: Redwire Co. (NYSE:RDW) Major Shareholder Sells $2,941,500.00 in Stock

Redwire Co. (NYSE:RDW) major shareholder Park Lp Genesis II sold 150,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $19.61, for a total value of $2,941,500.00. Following the sale, the insider now directly owns 4,157,489 shares in the company, valued at approximately $81,528,359.29. This trade represents a 3.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases 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 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 transaction 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 Price Performance

NYSE RDW opened at $21.18 on Friday. The company has a fifty day moving average price of $14.78 and a 200-day moving average price of $9.87. Redwire Co. has a 1 year low of $2.76 and a 1 year high of $23.35. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -17.51 and a beta of 2.17.

Analyst Ratings Changes

A number of equities analysts have recently commented on RDW shares. HC Wainwright lifted their price target on shares of Redwire from $18.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday. Cantor Fitzgerald started coverage on Redwire in a research report on Friday. They issued an “overweight” rating and a $28.00 price target on the stock. Roth Mkm raised their price objective on Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, B. Riley cut Redwire from a “buy” rating to a “neutral” rating and upped their target price for the company from $8.00 to $9.50 in a report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Redwire has a consensus rating of “Moderate Buy” and a consensus target price of $15.13.

Institutional Investors Weigh In On Redwire

Several institutional investors and hedge funds have recently added to or reduced their stakes in RDW. SG Americas Securities LLC grew its holdings in shares of Redwire by 39.6% in the third quarter. SG Americas Securities LLC now owns 21,870 shares of the company’s stock valued at $150,000 after acquiring an additional 6,200 shares in the last quarter. MetLife Investment Management LLC grew its stake in Redwire by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock valued at $97,000 after purchasing an additional 7,921 shares during the period. Arkadios Wealth Advisors purchased a new stake in shares of Redwire during the 4th quarter valued at $165,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Redwire during the 2nd quarter valued at $74,000. Finally, Penserra Capital Management LLC raised its stake in shares of Redwire by 16.5% during the 3rd quarter. Penserra Capital Management LLC now owns 74,626 shares of the company’s stock worth $512,000 after purchasing an additional 10,558 shares during the period. 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.