Goldman Sachs Group Inc. Grows Position in Redwire Corporation $RDW

Key Points

• Goldman Sachs Group Inc. significantly increased its stake in Redwire Corporation by 352.8% during the first quarter, owning 355,265 shares worth approximately $2.95 million at the end of the reporting period.
• Several other hedge funds also enhanced their holdings in Redwire, with LBP AM SA and Wolverine Asset Management LLC making notable increases of 24.8% and 192.7% respectively.
• Despite a negative earnings report and a decline in price targets from several analysts, Redwire currently holds a consensus rating of "Moderate Buy" with an average target price of $18.07.

Goldman Sachs Group Inc. lifted its holdings in shares of Redwire Corporation (NYSE:RDW - Free Report) by 352.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 355,265 shares of the company's stock after acquiring an additional 276,814 shares during the period. Goldman Sachs Group Inc. owned approximately 0.25% of Redwire worth $2,945,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. LBP AM SA grew its stake in shares of Redwire by 24.8% during the first quarter. LBP AM SA now owns 496,230 shares of the company's stock worth $4,114,000 after acquiring an additional 98,616 shares during the last quarter. Northern Trust Corp grew its stake in shares of Redwire by 18.2% during the fourth quarter. Northern Trust Corp now owns 243,977 shares of the company's stock worth $4,016,000 after acquiring an additional 37,522 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Redwire in the first quarter valued at approximately $1,300,000. Neuberger Berman Group LLC boosted its position in Redwire by 150.0% in the first quarter. Neuberger Berman Group LLC now owns 114,840 shares of the company's stock valued at $952,000 after buying an additional 68,906 shares during the last quarter. Finally, Penserra Capital Management LLC boosted its position in Redwire by 37.0% in the first quarter. Penserra Capital Management LLC now owns 107,402 shares of the company's stock valued at $890,000 after buying an additional 29,013 shares during the last quarter. Hedge funds and other institutional investors own 8.10% of the company's stock.

Wall Street Analysts Forecast Growth

RDW has been the topic of a number of recent research reports. Wall Street Zen lowered Redwire from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 9th. Bank of America initiated coverage on Redwire in a research report on Monday, August 18th. They issued an "underperform" rating and a $10.00 target price on the stock. Truist Financial set a $16.00 target price on Redwire and gave the company a "hold" rating in a research report on Thursday, June 26th. B. Riley dropped their target price on Redwire from $25.00 to $20.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Finally, Roth Capital reissued a "buy" rating on shares of Redwire in a report on Tuesday, June 24th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Redwire presently has an average rating of "Moderate Buy" and an average price target of $18.07.

Redwire Price Performance

NYSE RDW traded up $0.71 during mid-day trading on Tuesday, hitting $8.82. The stock had a trading volume of 3,527,634 shares, compared to its average volume of 3,075,412. The firm's 50 day moving average is $11.20 and its 200 day moving average is $12.26. Redwire Corporation has a twelve month low of $6.32 and a twelve month high of $26.66. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.46 and a quick ratio of 1.11. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -2.72 and a beta of 2.49.

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

Insider Transactions at Redwire

In other news, major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $7.83, for a total transaction of $86,130,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is currently owned by insiders.

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.