Empowered Funds LLC Purchases New Stake in Redwire Corporation $RDW

Key Points

• Empowered Funds LLC acquired 312,855 Redwire shares worth approximately $3.83 million in the second quarter, giving it a 0.13% stake. Other institutional investors, including Goldman Sachs and AQR Capital Management, also increased their positions; institutions collectively own 8.10% of Redwire.
• Redwire insiders own 0.79% of the company, while director Ae Red Holdings sold 1.07 million shares for approximately $23.0 million, reducing its ownership by 49.84%.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $14.69. Redwire recently beat quarterly EPS and revenue estimates, reporting an adjusted loss of $0.09 per share on $117.07 million in revenue.

Empowered Funds LLC purchased a new stake in shares of Redwire Corporation (NYSE:RDW - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 312,855 shares of the company's stock, valued at approximately $3,826,000. Empowered Funds LLC owned 0.13% of Redwire as of its most recent SEC filing.

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

Insider Buying and Selling at Redwire

In other Redwire 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 completion of the transaction, the director owned 1,077,419 shares of the company's stock, valued at approximately $23,142,960.12. This trade represents a 49.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.79% of the company's stock.

Analyst Ratings Changes

RDW has been the topic of several research analyst reports. Cantor Fitzgerald boosted their target price on Redwire from $9.00 to $13.50 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Bank of America lifted their price target on shares of Redwire from $7.00 to $8.00 and gave the company an "underperform" rating in a report on Monday. Weiss Ratings restated a "sell (d-)" rating on shares of Redwire in a report on Friday, July 17th. Alliance Global Partners reaffirmed a "buy" rating on shares of Redwire in a research report on Thursday, August 6th. Finally, Canaccord Genuity Group lifted their target price on shares of Redwire from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Redwire has a consensus rating of "Hold" and an average target price of $14.69.

Redwire Trading Down 4.1%

RDW opened at $10.26 on Wednesday. The stock has a market cap of $2.56 billion, a PE ratio of -7.03 and a beta of 3.08. The business has a 50 day moving average of $10.80 and a 200-day moving average of $11.46. Redwire Corporation has a 52 week low of $4.87 and a 52 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 posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.16) by $0.07. The business 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%. Equities research analysts predict that Redwire Corporation will post -0.68 earnings per share 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.

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