EntryPoint Capital LLC Grows Holdings in Astronics Co. (NASDAQ:ATRO)

EntryPoint Capital LLC lifted its stake in shares of Astronics Co. (NASDAQ:ATRO - Free Report) by 229.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,566 shares of the aerospace company's stock after purchasing an additional 23,386 shares during the quarter. EntryPoint Capital LLC owned about 0.10% of Astronics worth $536,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. AlphaQuest LLC increased its stake in Astronics by 355.5% in the 4th quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company's stock valued at $57,000 after buying an additional 2,791 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Astronics in the fourth quarter valued at about $73,000. Point72 Asset Management L.P. increased its stake in shares of Astronics by 337.9% during the third quarter. Point72 Asset Management L.P. now owns 5,356 shares of the aerospace company's stock worth $104,000 after acquiring an additional 4,133 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Astronics during the third quarter worth about $106,000. Finally, Arcadia Investment Management Corp MI acquired a new stake in Astronics in the fourth quarter valued at about $135,000. Hedge funds and other institutional investors own 56.68% of the company's stock.

Insider Activity

In other Astronics news, Director Robert S. Keane sold 77,099 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $24.55, for a total value of $1,892,780.45. Following the sale, the director now owns 6,346 shares of the company's stock, valued at $155,794.30. This represents a 92.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 10.86% of the company's stock.

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Astronics Price Performance

Shares of NASDAQ ATRO traded down $0.68 during midday trading on Friday, hitting $24.67. The company had a trading volume of 644,802 shares, compared to its average volume of 265,551. The firm has a market capitalization of $870.09 million, a price-to-earnings ratio of -129.84 and a beta of 1.74. Astronics Co. has a twelve month low of $14.13 and a twelve month high of $26.63. The business has a 50-day simple moving average of $20.88 and a two-hundred day simple moving average of $18.81. 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 (NASDAQ:ATRO - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.27. The company had revenue of $208.54 million during the quarter, compared to the consensus estimate of $194.91 million. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. During the same period last year, the firm earned $0.35 EPS. Equities research analysts anticipate that Astronics Co. will post 0.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Truist Financial boosted their target price on Astronics from $17.00 to $23.00 and gave the stock a "hold" rating in a research report on Wednesday, March 5th. StockNews.com raised Astronics from a "hold" rating to a "buy" rating in a report on Thursday, March 6th.

Astronics Company Profile

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.