Bares Capital Management Inc. Cuts Position in Astronics Co. (NASDAQ:ATRO)

Bares Capital Management Inc. reduced its holdings in shares of Astronics Co. (NASDAQ:ATRO - Free Report) by 97.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,851 shares of the aerospace company's stock after selling 879,500 shares during the period. Astronics comprises 0.0% of Bares Capital Management Inc.'s investment portfolio, making the stock its 15th largest holding. Bares Capital Management Inc. owned approximately 0.07% of Astronics worth $484,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale boosted its holdings in shares of Astronics by 13.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,146 shares of the aerospace company's stock valued at $163,000 after buying an additional 971 shares in the last quarter. RiverPark Advisors LLC boosted its holdings in shares of Astronics by 3.5% in the 3rd quarter. RiverPark Advisors LLC now owns 30,394 shares of the aerospace company's stock valued at $592,000 after buying an additional 1,015 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Astronics by 10.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,195 shares of the aerospace company's stock valued at $224,000 after buying an additional 1,094 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Astronics during the 2nd quarter worth $25,000. Finally, nVerses Capital LLC acquired a new stake in Astronics during the 2nd quarter worth $28,000. 56.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Truist Financial decreased their price target on shares of Astronics from $22.00 to $20.00 and set a "hold" rating for the company in a research note on Friday, October 18th.

Astronics Stock Performance

NASDAQ:ATRO traded up $0.25 during trading hours on Tuesday, reaching $16.48. 262,057 shares of the company's stock were exchanged, compared to its average volume of 182,889. The firm has a market capitalization of $581.08 million, a price-to-earnings ratio of -85.84 and a beta of 1.79. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. Astronics Co. has a 1-year low of $14.13 and a 1-year high of $23.74. The company has a 50-day moving average of $18.06 and a 200 day moving average of $19.43.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.