Legal & General Group Plc Takes $1.76 Million Position in Redwire Corporation $RDW

Key Points

• Legal & General Group Plc acquired 144,126 Redwire shares valued at approximately $1.76 million, representing about 0.06% of the company. Institutional investors and hedge funds collectively own 8.10% of Redwire.
• Redwire exceeded quarterly expectations, reporting a loss of $0.09 per share versus the projected $0.16 loss and revenue of $117.07 million versus the $107.10 million estimate. However, the company remains unprofitable, with a negative net margin of 57.26%.
• Analyst sentiment is mixed but leans positive, with a consensus “Hold” rating and a $14.69 price target compared with the stock’s $10.55 opening price. Separately, an insider sold 1.07 million shares for nearly $23 million, reducing that position by 49.84%.

Legal & General Group Plc acquired a new stake in Redwire Corporation (NYSE:RDW - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 144,126 shares of the company's stock, valued at approximately $1,763,000. Legal & General Group Plc owned approximately 0.06% of Redwire as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC acquired a new position in Redwire during the first quarter valued at approximately $28,000. KBC Group NV acquired a new stake in shares of Redwire in the first quarter worth $29,000. Sunbelt Securities Inc. boosted its holdings in shares of Redwire by 601.1% during the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company's stock worth $30,000 after buying an additional 3,396 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in shares of Redwire by 1,054.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company's stock worth $31,000 after buying an additional 3,668 shares during the period. Finally, CWM LLC grew its stake in Redwire by 1,725.0% in the 4th quarter. CWM LLC now owns 4,088 shares of the company's stock valued at $31,000 after buying an additional 3,864 shares during the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

Redwire Price Performance

Shares of Redwire stock opened at $10.55 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.92 and a quick ratio of 3.48. Redwire Corporation has a fifty-two week low of $4.87 and a fifty-two week high of $26.64. The firm has a fifty day moving average price of $10.77 and a two-hundred day moving average price of $11.51. The company has a market cap of $2.64 billion, a PE ratio of -7.23 and a beta of 3.08.

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 the consensus estimate of ($0.16) by $0.07. The company had revenue of $117.07 million for the quarter, compared to the consensus estimate of $107.10 million. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. Analysts expect that Redwire Corporation will post -0.7 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Jefferies Financial Group set a $15.00 target price on shares of Redwire in a research report on Sunday, August 9th. Alliance Global Partners reiterated a "buy" rating on shares of Redwire in a research note on Thursday, August 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of Redwire in a research report on Friday, July 17th. Wall Street Zen upgraded Redwire from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Canaccord Genuity Group raised their target price on Redwire from $14.00 to $15.00 and gave the company a "buy" rating in a report on Monday, August 10th. One equities research 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $14.69.

Insiders Place Their Bets

In other Redwire news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $21.48, for a total value 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 $23,142,960.12. This represents a 49.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.79% of the stock is currently owned by company insiders.

Redwire Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.