Canal Insurance CO Purchases Shares of 200,000 Redwire Corporation $RDW

Key Points

• Canal Insurance CO has acquired 200,000 shares of Redwire Corporation, valued at approximately $3.26 million, representing about 0.14% ownership as of its latest SEC filing.
• Redwire Corp. reported a loss per share of ($0.39) for the last quarter, significantly missing analyst estimates and forecasting a -0.85 EPS for the current year.
• Major shareholder Bain Capital sold 11 million shares of Redwire stock, totaling approximately $86.13 million, in a recent high-profile transaction.

Canal Insurance CO purchased a new stake in Redwire Corporation (NYSE:RDW - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 200,000 shares of the company's stock, valued at approximately $3,260,000. Canal Insurance CO owned 0.14% of Redwire as of its most recent SEC filing.

Several other large investors have also modified their holdings of RDW. Gabelli Funds LLC grew its stake in Redwire by 7.4% in the 1st quarter. Gabelli Funds LLC now owns 18,871 shares of the company's stock valued at $156,000 after buying an additional 1,300 shares during the last quarter. Vontobel Holding Ltd. lifted its position in Redwire by 10.4% during the 2nd quarter. Vontobel Holding Ltd. now owns 18,507 shares of the company's stock worth $302,000 after acquiring an additional 1,751 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in Redwire during the second quarter valued at about $54,000. Deutsche Bank AG grew its position in shares of Redwire by 40.0% in the first quarter. Deutsche Bank AG now owns 14,072 shares of the company's stock valued at $117,000 after purchasing an additional 4,017 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Redwire in the first quarter worth about $42,000. 8.10% of the stock is owned by institutional investors.

Redwire Stock Performance

RDW opened at $7.62 on Thursday. The stock's 50 day simple moving average is $8.90 and its 200-day simple moving average is $12.09. The company has a current ratio of 1.46, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21. The stock has a market cap of $1.10 billion, a PE ratio of -2.34 and a beta of 2.47. Redwire Corporation has a 1 year low of $6.61 and a 1 year high of $26.66.

Redwire (NYSE:RDW - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.39) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.28). The business had revenue of $61.76 million for the quarter, compared to analyst estimates of $80.48 million. Redwire had a negative return on equity of 32.67% and a negative net margin of 71.95%. Sell-side analysts forecast that Redwire Corporation will post -0.85 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on RDW shares. HC Wainwright restated a "buy" rating and set a $22.00 target price (down previously from $26.00) on shares of Redwire in a research note on Friday, August 8th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Redwire in a report on Wednesday, October 8th. Bank of America lowered their price objective on shares of Redwire from $10.00 to $9.00 and set an "underperform" rating on the stock in a research note on Friday, October 10th. Wall Street Zen lowered shares of Redwire from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 9th. Finally, Truist Financial reduced their price target on shares of Redwire from $13.00 to $11.00 and set a "hold" rating for the company in a report on Wednesday, October 15th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Redwire currently has a consensus rating of "Moderate Buy" and an average target price of $17.21.

Insider Buying and Selling at Redwire

In other news, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of Redwire stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $7.83, for a total transaction of $86,130,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company 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.

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