Mitsubishi UFJ Asset Management Co. Ltd. Takes Position in Redwire Corporation $RDW

Key Points

• Mitsubishi UFJ Asset Management bought 1.36 million Redwire shares worth approximately $16.6 million, giving it a 0.57% stake. Institutional investors collectively own 8.10% of the company.
• Redwire exceeded quarterly expectations, reporting revenue of $117.1 million versus $107.1 million expected and an EPS loss of $0.09 versus the projected $0.16 loss.
• Analyst sentiment remains mixed but targets generally increased: Redwire has an average “Hold” rating and a $14.44 price target, compared with a recent share price of $11.76. Separately, an insider sold 1.07 million shares at an average $21.48.

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Redwire Corporation (NYSE:RDW - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,355,914 shares of the company's stock, valued at approximately $16,583,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.57% of Redwire at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Parallel Advisors LLC bought a new position in shares of Redwire in the first quarter worth approximately $28,000. KBC Group NV bought a new position in shares of Redwire in the 1st quarter worth $29,000. Sunbelt Securities Inc. raised its position in shares of Redwire by 601.1% during the 4th quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company's stock valued at $30,000 after buying an additional 3,396 shares in the last quarter. CWM LLC lifted its holdings in shares of Redwire by 1,725.0% during the 4th quarter. CWM LLC now owns 4,088 shares of the company's stock worth $31,000 after acquiring an additional 3,864 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted 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 acquiring an additional 3,668 shares during the last quarter. 8.10% of the stock is owned by institutional investors.

Redwire Price Performance

RDW stock opened at $11.76 on Friday. The firm has a market cap of $2.94 billion, a P/E ratio of -8.05 and a beta of 3.05. The firm's fifty day moving average is $11.25 and its 200 day moving average is $11.39. Redwire Corporation has a 52 week low of $4.87 and a 52 week high of $26.64. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.48 and a current ratio of 3.92.

Redwire (NYSE:RDW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.16) by $0.07. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%.The firm had revenue of $117.07 million for the quarter, compared to analysts' expectations of $107.10 million. Research analysts predict that Redwire Corporation will post -0.68 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Alliance Global Partners restated a "buy" rating on shares of Redwire in a research report on Thursday, August 6th. Canaccord Genuity Group upped their price objective on Redwire from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Cantor Fitzgerald increased their price objective on Redwire from $9.00 to $13.50 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Jefferies Financial Group set a $15.00 price objective on Redwire in a report on Sunday, August 9th. Finally, Wall Street Zen upgraded Redwire from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Redwire currently has an average rating of "Hold" and an average target price of $14.44.

Insider Activity

In related news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the transaction, the director owned 1,077,419 shares in the company, valued at $23,142,960.12. The trade was a 49.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.79% of the stock is owned by insiders.

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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