Astronics Corporation $ATRO Shares Acquired by Jump Financial LLC

Key Points

• Jump Financial LLC increased its stake in Astronics Corporation by 67.8% in the first quarter, owning 75,874 shares valued at approximately $1.83 million.
• Astronics reported earnings exceeding analysts' expectations with $0.38 EPS for the last quarter, although its revenue was slightly below projections at $204.68 million.
• The stock has recently received mixed ratings from analysts, with one agency upgrading it to a "strong-buy" and another downgrading it to a "hold," highlighting its volatility in market sentiment.

Jump Financial LLC grew its stake in shares of Astronics Corporation (NASDAQ:ATRO - Free Report) by 67.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 75,874 shares of the aerospace company's stock after buying an additional 30,654 shares during the period. Jump Financial LLC owned approximately 0.22% of Astronics worth $1,834,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Signaturefd LLC raised its stake in shares of 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 shares of Astronics by 192.2% in the first quarter. CWM LLC now owns 2,592 shares of the aerospace company's stock valued at $63,000 after acquiring an additional 1,705 shares during the last quarter. Public Employees Retirement System of Ohio increased 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 acquiring an additional 2,600 shares during the last quarter. GAMMA Investing LLC boosted its position in Astronics by 16,616.7% during 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 Astronics during the fourth quarter valued at approximately $172,000. 56.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Astronics Trading Down 3.9%

Shares of ATRO traded down $1.46 during trading hours on Monday, reaching $36.37. 836,587 shares of the company traded hands, compared to its average volume of 757,287. Astronics Corporation has a 12 month low of $14.13 and a 12 month high of $38.26. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -303.06 and a beta of 1.69. The company's fifty day moving average price is $34.19 and its two-hundred day moving average price is $28.71. The company has a quick ratio of 1.63, a current ratio of 3.04 and a debt-to-equity ratio of 0.59.

Astronics (NASDAQ:ATRO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The aerospace company reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.05. Astronics had a negative net margin of 0.45% and a positive return on equity of 22.89%. The company had revenue of $204.68 million for the quarter, compared to analysts' expectations of $208.29 million. Equities research analysts predict that Astronics Corporation 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.