Assenagon Asset Management S.A. Invests $964,000 in Astronics Co. (NASDAQ:ATRO)

Assenagon Asset Management S.A. bought a new position in shares of Astronics Co. (NASDAQ:ATRO - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 49,492 shares of the aerospace company's stock, valued at approximately $964,000. Assenagon Asset Management S.A. owned approximately 0.14% of Astronics as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ATRO. BNP Paribas Financial Markets increased its stake in shares of Astronics by 35.1% during the first quarter. BNP Paribas Financial Markets now owns 52,587 shares of the aerospace company's stock worth $1,001,000 after purchasing an additional 13,656 shares in the last quarter. RiverPark Advisors LLC increased its stake in shares of Astronics by 360.9% during the first quarter. RiverPark Advisors LLC now owns 26,802 shares of the aerospace company's stock worth $510,000 after purchasing an additional 20,987 shares in the last quarter. GSA Capital Partners LLP increased its stake in shares of Astronics by 84.5% during the first quarter. GSA Capital Partners LLP now owns 33,248 shares of the aerospace company's stock worth $633,000 after purchasing an additional 15,228 shares in the last quarter. Swiss National Bank increased its stake in shares of Astronics by 5.4% during the first quarter. Swiss National Bank now owns 52,400 shares of the aerospace company's stock worth $998,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Astronics by 9.6% during the 1st quarter. Russell Investments Group Ltd. now owns 23,900 shares of the aerospace company's stock valued at $455,000 after acquiring an additional 2,100 shares in the last quarter. Hedge funds and other institutional investors own 56.68% of the company's stock.

Astronics Price Performance

NASDAQ ATRO traded up $0.32 during trading hours on Friday, hitting $17.71. 170,340 shares of the company's stock traded hands, compared to its average volume of 100,955. Astronics Co. has a 52-week low of $14.11 and a 52-week high of $23.74. The company has a market capitalization of $617.02 million, a PE ratio of -49.19 and a beta of 1.83. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.92 and a quick ratio of 1.50. The firm's 50-day moving average is $19.76 and its 200-day moving average is $19.66.

Astronics (NASDAQ:ATRO - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The aerospace company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.13). Astronics had a negative net margin of 1.57% and a negative return on equity of 0.31%. The business had revenue of $198.11 million for the quarter, compared to analysts' expectations of $191.19 million. During the same period in the prior year, the company posted ($0.37) EPS. Equities analysts forecast that Astronics Co. will post 0.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Truist Financial dropped their price objective 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.

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.