Summit Securities Group LLC Makes New $63,000 Investment in Redwire Co. (NYSE:RDW)

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

Several other hedge funds have also made changes to their positions in RDW. Vanguard Group Inc. increased its stake in Redwire by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 1,310,660 shares of the company’s stock valued at $21,573,000 after purchasing an additional 101,620 shares during the last quarter. Barclays PLC increased its stake in shares of Redwire by 55.8% during the 3rd quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock valued at $8,115,000 after acquiring an additional 422,854 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Redwire by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock worth $3,599,000 after acquiring an additional 30,963 shares during the period. State Street Corp boosted its position in shares of Redwire by 8.1% in the third quarter. State Street Corp now owns 473,295 shares of the company’s stock worth $3,252,000 after acquiring an additional 35,519 shares during the last quarter. Finally, Andar Capital Management HK Ltd purchased a new stake in Redwire in the fourth quarter valued at approximately $3,621,000. Institutional investors and hedge funds own 8.10% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Park Lp Genesis II sold 100,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $18.02, for a total value of $1,802,000.00. Following the completion of the transaction, the insider now directly owns 4,322,853 shares in the company, valued at approximately $77,897,811.06. This represents a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 589,213 shares of company stock worth $12,059,370 over the last quarter. 2.60% of the stock is owned by corporate insiders.

Redwire Trading Down 10.7 %

NYSE:RDW opened at $8.81 on Monday. Redwire Co. has a twelve month low of $3.39 and a twelve month high of $26.66. The firm has a market capitalization of $665.42 million, a price-to-earnings ratio of -7.28 and a beta of 2.33. The firm’s fifty day simple moving average is $17.01 and its 200 day simple moving average is $13.08.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RDW shares. HC Wainwright reiterated a “buy” rating and issued a $26.00 price target on shares of Redwire in a report on Wednesday, March 12th. Alliance Global Partners reaffirmed a “buy” rating on shares of Redwire in a research report on Tuesday, March 11th. 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 report on Wednesday, March 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $28.00 price objective on shares of Redwire in a report on Tuesday, March 11th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Redwire presently has a consensus rating of “Moderate Buy” and an average target price of $17.71.

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.