Graham Capital Management L.P. Invests $214,000 in Astronics Co. (NASDAQ:ATRO)

Graham Capital Management L.P. purchased a new stake in shares of Astronics Co. (NASDAQ:ATRO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,424 shares of the aerospace company's stock, valued at approximately $214,000.

Several other hedge funds have also modified their holdings of ATRO. Schonfeld Strategic Advisors LLC lifted its position in shares of Astronics by 58.7% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 881,504 shares of the aerospace company's stock valued at $14,069,000 after buying an additional 325,904 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Astronics by 493.7% during the fourth quarter. Ameriprise Financial Inc. now owns 363,286 shares of the aerospace company's stock valued at $5,798,000 after buying an additional 302,092 shares during the last quarter. Royce & Associates LP lifted its position in shares of Astronics by 18.7% during the fourth quarter. Royce & Associates LP now owns 1,150,355 shares of the aerospace company's stock valued at $18,360,000 after buying an additional 181,619 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Astronics by 139.3% during the fourth quarter. Renaissance Technologies LLC now owns 286,700 shares of the aerospace company's stock valued at $4,576,000 after buying an additional 166,900 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in shares of Astronics by 310.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 203,341 shares of the aerospace company's stock valued at $3,245,000 after purchasing an additional 153,839 shares during the last quarter. 56.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ATRO shares. Wall Street Zen lowered shares of Astronics from a "strong-buy" rating to a "buy" rating in a research report on Wednesday. Truist Financial decreased their price objective on shares of Astronics from $23.00 to $21.00 and set a "hold" rating for the company in a research report on Thursday, April 17th.

Insider Buying and Selling

In related news, Director Robert S. Keane sold 77,099 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $24.55, for a total value of $1,892,780.45. Following the transaction, the director now owns 6,346 shares in the company, valued at approximately $155,794.30. This represents a 92.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 10.83% of the stock is owned by corporate insiders.

Astronics Stock Performance

Shares of Astronics stock traded up $0.33 during midday trading on Friday, hitting $30.19. The company had a trading volume of 229,313 shares, compared to its average volume of 320,450. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -158.89 and a beta of 1.44. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. The company has a fifty day simple moving average of $24.79 and a 200 day simple moving average of $20.35. Astronics Co. has a 12-month low of $14.13 and a 12-month high of $31.15.

Astronics (NASDAQ:ATRO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The aerospace company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.19. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. The company had revenue of $205.94 million for the quarter, compared to the consensus estimate of $192.53 million. As a group, analysts predict that Astronics Co. will post 0.82 earnings per share for the current fiscal year.

Astronics Profile

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.