Jacobs Levy Equity Management Inc. Invests $4.83 Million in Redwire Co. (NYSE:RDW)

Jacobs Levy Equity Management Inc. purchased a new position in shares of Redwire Co. (NYSE:RDW) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 293,460 shares of the company’s stock, valued at approximately $4,830,000. Jacobs Levy Equity Management Inc. owned 0.44% of Redwire at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in Redwire by 7.8% during the 4th quarter. JPMorgan Chase & Co. now owns 10,854 shares of the company’s stock worth $179,000 after acquiring an additional 782 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in Redwire by 64.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,382 shares of the company’s stock worth $39,000 after acquiring an additional 931 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Redwire by 45.7% during the 4th quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock worth $72,000 after acquiring an additional 1,372 shares in the last quarter. Quarry LP acquired a new position in Redwire during the 4th quarter worth about $33,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Redwire by 4.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 65,641 shares of the company’s stock worth $1,080,000 after acquiring an additional 2,533 shares in the last quarter. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RDW. B. Riley reduced their price target on Redwire from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $28.00 price target on shares of Redwire in a research report on Tuesday, March 11th. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research report on Monday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $26.00 price target on shares of Redwire in a research report on Wednesday, March 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Redwire has an average rating of “Moderate Buy” and a consensus price target of $20.05.

Redwire Stock Performance

Shares of NYSE RDW opened at $11.59 on Thursday. Redwire Co. has a fifty-two week low of $4.73 and a fifty-two week high of $26.66. The firm has a market capitalization of $875.89 million, a PE ratio of -9.58 and a beta of 2.46. The stock’s 50-day simple moving average is $10.24 and its 200-day simple moving average is $13.62.

Redwire (NYSE:RDW) last issued its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, hitting the consensus estimate of ($0.20). The business had revenue of $61.40 million for the quarter, compared to analyst estimates of $74.54 million. On average, sell-side analysts forecast that Redwire Co. will post -0.85 earnings per share for the current fiscal year.

Insider Transactions at Redwire

In other news, major shareholder Park Lp Genesis II sold 10,115 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $24.11, for a total transaction of $243,872.65. Following the sale, the insider now owns 3,644,566 shares of the company’s stock, valued at approximately $87,870,486.26. This trade represents a 0.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.

About Redwire

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.