Summit Securities Group LLC Buys Shares of 3,840 Redwire Co. (NYSE:RDW)

Summit Securities Group LLC purchased a new position in shares of Redwire Co. (NYSE:RDW) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,840 shares of the company’s stock, valued at approximately $63,000.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in Redwire by 7.8% in the 4th quarter. JPMorgan Chase & Co. now owns 10,854 shares of the company’s stock valued at $179,000 after purchasing an additional 782 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Redwire by 45.7% in the fourth quarter. Jones Financial Companies Lllp now owns 4,372 shares of the company’s stock valued at $72,000 after buying an additional 1,372 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Redwire by 4.0% during the fourth 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 during the period. Bank of New York Mellon Corp raised its position in Redwire by 6.9% in the fourth quarter. Bank of New York Mellon Corp now owns 52,170 shares of the company’s stock worth $859,000 after acquiring an additional 3,357 shares in the last quarter. Finally, US Bancorp DE acquired a new stake in Redwire in the fourth quarter valued at $119,000. 8.10% of the stock is owned by institutional investors and hedge funds.

Redwire Trading Down 10.7 %

Shares of RDW opened at $8.81 on Monday. Redwire Co. has a 12-month low of $3.39 and a 12-month high of $26.66. The stock has a market cap of $665.42 million, a P/E ratio of -7.28 and a beta of 2.33. The company has a 50-day moving average of $17.01 and a two-hundred day moving average of $13.08.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RDW. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $28.00 price target on shares of Redwire in a research note on Tuesday, March 11th. HC Wainwright restated a “buy” rating and set a $26.00 target price on shares of Redwire in a research report on Wednesday, March 12th. B. Riley reduced their price target on shares of Redwire from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, March 12th. Finally, Alliance Global Partners restated a “buy” rating on shares of Redwire in a report on Tuesday, March 11th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Redwire presently has a consensus rating of “Moderate Buy” and an average price target of $17.71.

Insider Transactions at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 100,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $18.02, for a total transaction of $1,802,000.00. Following the sale, the insider now owns 4,322,853 shares in the company, valued at approximately $77,897,811.06. This represents a 2.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 589,213 shares of company stock valued at $12,059,370 in the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Redwire Company 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.