Alberta Investment Management Corp Purchases Shares of 206,700 Redwire Corporation $RDW

Key Points

• Alberta Investment Management Corp. acquired 206,700 Redwire shares in the second quarter, worth approximately $2.53 million and representing 0.09% of the company. Institutional investors collectively own 8.10% of Redwire.
• Analyst sentiment remains mixed but has improved, with several firms raising price targets and ratings. Redwire has an average “Hold” rating and a consensus price target of $14.44.
• Redwire reported quarterly revenue of $117.07 million, exceeding estimates, and an adjusted loss of $0.09 per share versus the expected $0.16 loss. The stock opened at $13.43, while the company continues to report negative net margins and earnings.

Alberta Investment Management Corp acquired a new position in Redwire Corporation (NYSE:RDW - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 206,700 shares of the company's stock, valued at approximately $2,528,000. Alberta Investment Management Corp owned 0.09% of Redwire as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. AQR Capital Management LLC lifted its holdings in Redwire by 125.0% in the 1st quarter. AQR Capital Management LLC now owns 51,437 shares of the company's stock worth $426,000 after purchasing an additional 28,576 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Redwire by 352.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 355,265 shares of the company's stock valued at $2,945,000 after buying an additional 276,814 shares in the last quarter. Strs Ohio bought a new stake in shares of Redwire during the first quarter valued at approximately $69,000. Rhumbline Advisers raised its position in shares of Redwire by 61.0% during the second quarter. Rhumbline Advisers now owns 56,517 shares of the company's stock valued at $921,000 after buying an additional 21,417 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Redwire by 57.6% in the second quarter. Invesco Ltd. now owns 21,198 shares of the company's stock worth $346,000 after buying an additional 7,750 shares in the last quarter. Hedge funds and other institutional investors own 8.10% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on RDW shares. Jefferies Financial Group set a $15.00 target price on shares of Redwire in a research report on Sunday, August 9th. Canaccord Genuity Group increased their price objective on shares of Redwire from $14.00 to $15.00 and gave the company a "buy" rating in a report on Monday, August 10th. Wall Street Zen raised shares of Redwire from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Cantor Fitzgerald raised their price objective on Redwire from $9.00 to $13.50 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Finally, Truist Financial raised Redwire to a "strong-buy" rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $14.44.

Redwire Trading Down 1.1%

RDW stock opened at $13.43 on Tuesday. The firm has a fifty day moving average price of $11.46 and a 200 day moving average price of $11.39. Redwire Corporation has a fifty-two week low of $4.87 and a fifty-two week high of $26.64. The firm has a market cap of $3.36 billion, a PE ratio of -9.20 and a beta of 3.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.48 and a current ratio of 3.92.

Redwire (NYSE:RDW - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, topping analysts' consensus estimates of ($0.16) by $0.07. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. The firm had revenue of $117.07 million for the quarter, compared to the consensus estimate of $107.10 million. Sell-side analysts anticipate that Redwire Corporation will post -0.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the sale, the director directly owned 1,077,419 shares in the company, valued at $23,142,960.12. This represents a 49.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.79% of the stock is owned by insiders.

About Redwire

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.

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