Cubist Systematic Strategies LLC Buys 143,669 Shares of Astronics Corporation $ATRO

Key Points

• Cubist Systematic Strategies LLC increased its stake in Astronics Corporation by 90.8% in Q1, owning approximately 301,880 shares valued at $7.3 million.
• The stock has experienced substantial growth, with a 100% increase year-to-date, and institutional investors currently hold 56.68% of Astronics' shares.
• Astronics recently reported quarterly earnings, exceeding analysts' expectations with an EPS of $0.38, while revenue was slightly below estimates at $204.68 million.

Cubist Systematic Strategies LLC boosted its holdings in shares of Astronics Corporation (NASDAQ:ATRO - Free Report) by 90.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 301,880 shares of the aerospace company's stock after buying an additional 143,669 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.86% of Astronics worth $7,296,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ATRO. Signaturefd LLC increased its position in Astronics by 88.5% during the first quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company's stock worth $35,000 after buying an additional 679 shares during the last quarter. CWM LLC increased its position in Astronics by 192.2% during the first quarter. CWM LLC now owns 2,592 shares of the aerospace company's stock worth $63,000 after buying an additional 1,705 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Astronics by 167.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company's stock valued at $66,000 after purchasing an additional 2,600 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Astronics by 16,616.7% in the first quarter. GAMMA Investing LLC now owns 6,018 shares of the aerospace company's stock valued at $145,000 after purchasing an additional 5,982 shares during the last quarter. Finally, Freestone Grove Partners LP acquired a new position in shares of Astronics in the fourth quarter valued at approximately $172,000. Institutional investors and hedge funds own 56.68% of the company's stock.

Astronics Price Performance

NASDAQ ATRO traded down $0.07 on Monday, hitting $38.61. 136,249 shares of the company's stock were exchanged, compared to its average volume of 532,351. The stock has a 50-day moving average of $34.61 and a 200-day moving average of $29.37. The company has a current ratio of 3.04, a quick ratio of 1.63 and a debt-to-equity ratio of 0.59. Astronics Corporation has a 52 week low of $14.13 and a 52 week high of $39.50. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of -322.01 and a beta of 1.69.

Astronics (NASDAQ:ATRO - Get Free Report) last released its earnings results on Wednesday, August 6th. The aerospace company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.05. Astronics had a positive return on equity of 22.89% and a negative net margin of 0.45%.The firm had revenue of $204.68 million during the quarter, compared to analysts' expectations of $208.29 million. Analysts expect that Astronics Corporation will post 0.82 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Zacks Research raised Astronics to a "strong-buy" rating in a research report on Friday, August 8th. Wall Street Zen downgraded Astronics from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Truist Financial raised Astronics from a "hold" rating to a "buy" rating and set a $49.00 target price on the stock in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Strong Buy" and a consensus target price of $49.00.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.