Penserra Capital Management LLC Purchases New Shares in Astronics Corporation $ATRO

Penserra Capital Management LLC purchased a new position in shares of Astronics Corporation (NASDAQ:ATRO) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,992 shares of the aerospace company’s stock, valued at approximately $66,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ATRO. Signaturefd LLC lifted its position in shares of Astronics by 88.5% during the 1st quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company’s stock worth $35,000 after buying an additional 679 shares in the last quarter. CWM LLC increased its position in shares of Astronics by 192.2% during the first quarter. CWM LLC now owns 2,592 shares of the aerospace company’s stock valued at $63,000 after acquiring an additional 1,705 shares during the last quarter. Elyxium Wealth LLC bought a new stake in Astronics during the second quarter worth $209,000. Verdence Capital Advisors LLC purchased a new position in Astronics in the second quarter worth $219,000. Finally, Longboard Asset Management LP bought a new position in Astronics in the 2nd quarter valued at $222,000. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Insider Buying and Selling at Astronics

In related news, insider James Mulato sold 1,129 shares of the business’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $38.16, for a total transaction of $43,082.64. Following the sale, the insider directly owned 1,066 shares in the company, valued at approximately $40,678.56. The trade was a 51.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 9.39% of the company’s stock.

Wall Street Analyst Weigh In

ATRO has been the topic of a number of recent analyst reports. Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a report on Wednesday, October 8th. Truist Financial boosted their target price on shares of Astronics from $49.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Craig Hallum initiated coverage on shares of Astronics in a research report on Friday, October 10th. They set a “buy” rating and a $60.00 target price for the company. Finally, Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Astronics has an average rating of “Moderate Buy” and an average price target of $59.00.

Astronics Price Performance

ATRO opened at $49.19 on Friday. The firm has a 50-day moving average price of $45.78 and a 200-day moving average price of $37.15. Astronics Corporation has a twelve month low of $14.13 and a twelve month high of $51.88. The company has a quick ratio of 1.63, a current ratio of 3.04 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of -409.88 and a beta of 1.63.

Astronics (NASDAQ:ATRO) last released its quarterly earnings data on Tuesday, November 4th. The aerospace company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.42 by $0.07. Astronics had a negative net margin of 0.45% and a positive return on equity of 22.89%. The company had revenue of $211.45 million during the quarter, compared to the consensus estimate of $210.80 million. Astronics has set its FY 2025 guidance at EPS. Equities analysts expect that Astronics Corporation will post 0.82 EPS for the current year.

Astronics 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.