Vanguard Group Inc. Purchases 101,620 Shares of Redwire Co. (NYSE:RDW)

Vanguard Group Inc. lifted its stake in shares of Redwire Co. (NYSE:RDW - Free Report) by 8.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,310,660 shares of the company's stock after purchasing an additional 101,620 shares during the period. Vanguard Group Inc. owned approximately 1.97% of Redwire worth $21,573,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Andar Capital Management HK Ltd acquired a new stake in Redwire during the 4th quarter worth $3,621,000. Mesirow Financial Investment Management Inc. acquired a new stake in shares of Redwire during the fourth quarter worth $448,000. State Street Corp increased its holdings in Redwire by 8.1% in the third quarter. State Street Corp now owns 473,295 shares of the company's stock valued at $3,252,000 after purchasing an additional 35,519 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Redwire by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 65,641 shares of the company's stock valued at $1,080,000 after buying an additional 2,533 shares during the period. Finally, Brookstone Capital Management bought a new position in Redwire during the fourth quarter worth about $329,000. 8.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. B. Riley lowered their price target on Redwire from $27.00 to $25.00 and set a "neutral" rating for the company in a research note on Wednesday, March 12th. HC Wainwright reiterated a "buy" rating and issued a $26.00 target price on shares of Redwire in a report on Wednesday, March 12th. Cantor Fitzgerald reissued an "overweight" rating and issued a $28.00 price target on shares of Redwire in a report on Tuesday, March 11th. Finally, Alliance Global Partners restated a "buy" rating on shares of Redwire in a research report on Tuesday, March 11th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $17.71.

Redwire Price Performance

RDW stock traded up $0.30 during trading hours on Friday, reaching $10.13. 1,243,965 shares of the stock were exchanged, compared to its average volume of 957,731. The company has a market cap of $765.78 million, a price-to-earnings ratio of -8.37 and a beta of 2.51. The firm's 50-day moving average is $12.63 and its 200-day moving average is $13.23. Redwire Co. has a 12 month low of $3.51 and a 12 month high of $26.66.

Insider Activity at Redwire

In related news, 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 completion of the transaction, the insider now owns 4,157,489 shares of the company's stock, valued at approximately $81,528,359.29. This trade represents a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 416,798 shares of company stock valued at $8,961,141. 2.60% of the stock is owned by insiders.

Redwire Profile

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.