Legal & General Group Plc Takes Position in Redwire Corporation $RDW

Legal & General Group Plc acquired a new position in shares of Redwire Corporation (NYSE:RDW) in the second quarter, Holdings Channel reports. The fund acquired 144,126 shares of the company’s stock, valued at approximately $1,763,000.

Several other institutional investors have also made changes to their positions in the business. BlackRock Inc. bought a new stake in Redwire in the second quarter valued at about $196,514,000. Bank of America Corp DE lifted its stake in Redwire by 7,512.5% during the first quarter. Bank of America Corp DE now owns 6,820,003 shares of the company’s stock worth $57,970,000 after purchasing an additional 6,730,414 shares during the period. State Street Corp boosted its holdings in Redwire by 61.1% during the fourth quarter. State Street Corp now owns 4,708,600 shares of the company’s stock valued at $35,785,000 after purchasing an additional 1,786,038 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Redwire in the 2nd quarter valued at approximately $16,583,000. Finally, UBS Group AG grew its stake in shares of Redwire by 140.8% in the 4th quarter. UBS Group AG now owns 2,039,902 shares of the company’s stock valued at $15,503,000 after purchasing an additional 1,192,885 shares during the period. 8.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Redwire

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the transaction, the director owned 1,077,419 shares in the company, valued at $23,142,960.12. This represents a 49.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RDW shares. Alliance Global Partners restated a “buy” rating on shares of Redwire in a research report on Thursday, August 6th. Bank of America increased their price objective on Redwire from $7.00 to $8.00 and gave the stock an “underperform” rating in a research note on Monday, August 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Redwire in a report on Friday, July 17th. Wall Street Zen upgraded shares of Redwire from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Jefferies Financial Group set a $15.00 target price on shares of Redwire in a report on Sunday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Redwire presently has an average rating of “Hold” and a consensus target price of $14.69.

Redwire Stock Up 0.2%

Shares of RDW opened at $10.55 on Monday. The company has a market capitalization of $2.64 billion, a P/E ratio of -7.23 and a beta of 3.08. Redwire Corporation has a one year low of $4.87 and a one year high of $26.64. The business’s 50 day simple moving average is $10.77 and its 200-day simple moving average is $11.51. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.92 and a quick ratio of 3.48.

Redwire (NYSE:RDW) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.07. The firm had revenue of $117.07 million during the quarter, compared to the consensus estimate of $107.10 million. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%. As a group, sell-side analysts predict that Redwire Corporation will post -0.7 EPS for the current fiscal year.

Redwire Profile

Redwire Corporation is a space infrastructure company specializing in the design, engineering and manufacturing of mission-critical hardware and software for the spaceflight industry. The company’s offerings include deployable structures, solar power systems, radio frequency antennas, advanced composites and transparent optics. Redwire serves a broad customer base that spans civil space agencies, national defense organizations and commercial satellite operators, helping enable missions ranging from communications and Earth observation to deep-space exploration.

Formed through the strategic combination of several specialized space technology firms, Redwire’s portfolio encompasses both flight-proven hardware and cutting-edge in-space manufacturing capabilities.