Boothbay Fund Management LLC Decreases Holdings in Astronics Co. (NASDAQ:ATRO)

Boothbay Fund Management LLC reduced its position in Astronics Co. (NASDAQ:ATRO) by 13.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,940 shares of the aerospace company’s stock after selling 3,062 shares during the period. Boothbay Fund Management LLC’s holdings in Astronics were worth $302,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Mill Road Capital Management LLC purchased a new position in shares of Astronics in the fourth quarter valued at $1,516,000. Price T Rowe Associates Inc. MD purchased a new position in Astronics during the 4th quarter valued at about $185,000. Tower Research Capital LLC TRC lifted its holdings in shares of Astronics by 986.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 24,483 shares of the aerospace company’s stock valued at $391,000 after purchasing an additional 22,229 shares in the last quarter. MetLife Investment Management LLC grew its position in shares of Astronics by 18.0% in the fourth quarter. MetLife Investment Management LLC now owns 19,281 shares of the aerospace company’s stock valued at $308,000 after purchasing an additional 2,942 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Astronics by 6.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 998,506 shares of the aerospace company’s stock worth $15,936,000 after purchasing an additional 58,149 shares in the last quarter. 56.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Astronics

In related news, Director Robert S. Keane sold 77,099 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $24.55, for a total transaction of $1,892,780.45. Following the completion of the transaction, the director now owns 6,346 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this hyperlink. Insiders own 10.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. StockNews.com raised Astronics from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Truist Financial dropped their price objective on Astronics from $23.00 to $21.00 and set a “hold” rating for the company in a research report on Thursday, April 17th.

Astronics Stock Up 3.6 %

Shares of NASDAQ ATRO opened at $23.87 on Friday. The firm has a market cap of $841.87 million, a P/E ratio of -125.62 and a beta of 1.26. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 2.83. Astronics Co. has a 1 year low of $14.13 and a 1 year high of $26.63. The firm’s 50 day moving average price is $23.10 and its 200 day moving average price is $19.31.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings data on Tuesday, March 4th. The aerospace company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.27. Astronics had a positive return on equity of 6.94% and a negative net margin of 0.82%. The business had revenue of $208.54 million during the quarter, compared to the consensus estimate of $194.91 million. During the same quarter in the previous year, the business earned $0.35 earnings per share. As a group, sell-side analysts anticipate that Astronics Co. will post 0.82 earnings per share for the current year.

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.