Alyeska Investment Group L.P. Purchases New Stake in Redwire Corporation $RDW

Key Points

• Alyeska Investment Group acquired 914,597 Redwire shares worth approximately $11.2 million, giving it a 0.37% stake. Institutional investors collectively own 8.10% of the company.
• Redwire exceeded quarterly expectations, reporting revenue of $117.07 million versus a $107.10 million estimate and an adjusted loss of $0.09 per share compared with the expected $0.16 loss. However, the company remains unprofitable, with a negative net margin of 57.26%.
• Analyst sentiment is mixed but leans positive: the stock has a consensus “Hold” rating and a $14.69 target price, compared with its reported opening price of $10.69. An insider also sold 1.07 million shares, reducing that holding by 49.84%.

Alyeska Investment Group L.P. acquired a new position in shares of Redwire Corporation (NYSE:RDW - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 914,597 shares of the company's stock, valued at approximately $11,186,000. Alyeska Investment Group L.P. owned about 0.37% of Redwire at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Parallel Advisors LLC acquired a new position in Redwire in the first quarter valued at approximately $28,000. KBC Group NV acquired a new stake in shares of Redwire during the 1st quarter worth approximately $29,000. Sunbelt Securities Inc. lifted its holdings in shares of Redwire by 601.1% in the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company's stock worth $30,000 after purchasing an additional 3,396 shares during the last quarter. CWM LLC lifted its holdings in shares of Redwire by 1,725.0% in the 4th quarter. CWM LLC now owns 4,088 shares of the company's stock worth $31,000 after purchasing an additional 3,864 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in Redwire by 1,054.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company's stock valued at $31,000 after purchasing an additional 3,668 shares during the period. Institutional investors own 8.10% of the company's stock.

Redwire Stock Performance

RDW stock opened at $10.69 on Tuesday. The company has a market capitalization of $2.67 billion, a P/E ratio of -7.32 and a beta of 3.05. The company has a 50-day simple moving average of $10.84 and a 200 day simple moving average of $11.45. Redwire Corporation has a fifty-two week low of $4.87 and a fifty-two week high of $26.64. The company has a quick ratio of 3.48, a current ratio of 3.92 and a debt-to-equity ratio of 0.03.

Redwire (NYSE:RDW - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $107.10 million. Sell-side analysts predict that Redwire Corporation will post -0.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RDW. Alliance Global Partners reiterated a "buy" rating on shares of Redwire in a research note on Thursday, August 6th. Jefferies Financial Group set a $15.00 price target 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 stock a "buy" rating in a report on Monday, August 10th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Redwire in a research report on Friday, July 17th. Finally, Wall Street Zen raised shares of Redwire from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $14.69.

Insider Activity

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the firm's stock in a transaction that occurred on 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 trade represents a 49.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.79% of the stock is owned by company insiders.

Redwire Company 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.

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