Redwire Corporation $RDW Shares Acquired by AE Industrial Partners LP

Key Points

• AE Industrial Partners LP increased its stake in Redwire by 139.3% in Q2, adding about 49.8M shares to hold 85.5M shares — reported as roughly a 59.36% ownership of the company.
• Insider buying: CEO Peter A. Cannito Jr. purchased 32,155 shares at $6.21 and CAO Chris Edmunds bought 5,500 shares at $5.46, with insiders acquiring 56,065 shares over the last 90 days and owning 2.6% of the stock.
• Analysts are mixed: six Buy, two Hold and two Sell ratings produce an average rating of "Hold" and an average price target of $12.50, amid several recent price-target cuts by major brokers.

AE Industrial Partners LP grew its stake in Redwire Corporation (NYSE:RDW - Free Report) by 139.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,496,745 shares of the company's stock after buying an additional 49,765,262 shares during the quarter. Redwire accounts for about 1.1% of AE Industrial Partners LP's investment portfolio, making the stock its 3rd biggest holding. AE Industrial Partners LP owned about 59.36% of Redwire worth $1,394,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameritas Advisory Services LLC acquired a new position in shares of Redwire during the second quarter worth about $54,000. Strs Ohio bought a new stake in Redwire in the 1st quarter valued at approximately $69,000. Tower Research Capital LLC TRC boosted its position in Redwire by 32.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company's stock worth $102,000 after acquiring an additional 1,533 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Redwire by 40.0% during the 1st quarter. Deutsche Bank AG now owns 14,072 shares of the company's stock worth $117,000 after acquiring an additional 4,017 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Redwire by 71.2% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 7,724 shares of the company's stock valued at $126,000 after purchasing an additional 3,213 shares during the last quarter. 8.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on RDW. Zacks Research raised shares of Redwire from a "strong sell" rating to a "hold" rating in a research report on Monday, November 10th. Bank of America lowered their target price on Redwire from $9.00 to $6.00 and set an "underperform" rating on the stock in a research report on Wednesday, November 19th. Roth Capital reissued a "buy" rating and set a $15.00 price target on shares of Redwire in a research report on Thursday, November 6th. Truist Financial lowered their price target on Redwire from $11.00 to $8.00 and set a "hold" rating on the stock in a research report on Friday, November 7th. Finally, Canaccord Genuity Group cut their price objective on Redwire from $17.50 to $11.00 and set a "buy" rating for the company in a report on Wednesday, November 12th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Redwire has an average rating of "Hold" and an average target price of $12.50.

Insider Buying and Selling at Redwire

In other Redwire news, CEO Peter Anthony Cannito, Jr. bought 32,155 shares of the stock in a transaction dated Monday, November 10th. The shares were bought at an average cost of $6.21 per share, with a total value of $199,682.55. Following the completion of the acquisition, the chief executive officer owned 526,728 shares of the company's stock, valued at $3,270,980.88. This trade represents a 6.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Chris Edmunds acquired 5,500 shares of the business's stock in a transaction that occurred on Friday, November 14th. The shares were purchased at an average cost of $5.46 per share, with a total value of $30,030.00. Following the transaction, the chief accounting officer directly owned 107,441 shares of the company's stock, valued at $586,627.86. This trade represents a 5.40% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have acquired 56,065 shares of company stock valued at $330,047. 2.60% of the stock is currently owned by insiders.

Redwire Trading Down 4.8%

RDW stock opened at $7.31 on Friday. Redwire Corporation has a one year low of $4.87 and a one year high of $26.66. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -2.30 and a beta of 2.48. The company has a fifty day moving average price of $7.12 and a two-hundred day moving average price of $10.95. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.05.

Redwire 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.

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