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

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 transaction of $1,802,000.00. Following the completion of the transaction, the insider now directly owns 4,322,853 shares of the company’s stock, valued at approximately $77,897,811.06. The trade was a 2.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 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 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 shares were 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 value of $1,526,891.30.

Redwire Stock Down 3.9 %

NYSE:RDW traded down $0.68 during midday trading on Tuesday, hitting $16.78. The stock had a trading volume of 1,248,455 shares, compared to its average volume of 1,272,799. The stock has a 50-day moving average of $12.51 and a 200 day moving average of $8.88. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -13.87 and a beta of 2.17. Redwire Co. has a one year low of $2.68 and a one year high of $18.54.

Hedge Funds Weigh In On Redwire

Institutional investors have recently made changes to their positions in the company. Barclays PLC boosted its stake in shares of Redwire by 55.8% during the third quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock valued at $8,115,000 after purchasing an additional 422,854 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in Redwire during the 3rd quarter valued at $623,000. Bank of New York Mellon Corp increased its holdings in shares of Redwire by 496.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 71,340 shares of the company’s stock valued at $512,000 after acquiring an additional 59,372 shares during the period. LJI Wealth Management LLC purchased a new position in Redwire in the second quarter valued at about $258,000. Finally, State Street Corp lifted its position in shares of Redwire by 8.1% during the third quarter. State Street Corp now owns 473,295 shares of the company’s stock valued at $3,252,000 after buying an additional 35,519 shares during the last quarter. Hedge funds and other institutional investors own 8.10% of the company’s stock.

Analyst Ratings Changes

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

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.