Squarepoint Ops LLC Makes New Investment in Park Aerospace Corp. $PKE

Key Points

• Squarepoint Ops LLC acquired 47,202 shares of Park Aerospace in the second quarter, valued at approximately $1.8 million. Institutional investors collectively own 77.83% of the company.
• Analysts maintain a favorable outlook, with a consensus “Buy” rating and an average price target of $42.50, despite some recent downgrades to individual ratings.
• Park Aerospace exceeded quarterly earnings expectations, reporting $0.17 in EPS and $18.31 million in revenue, and declared a quarterly dividend of $0.125 per share, representing a 1.6% yield.

Squarepoint Ops LLC purchased a new stake in Park Aerospace Corp. (NYSE:PKE - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 47,202 shares of the semiconductor company's stock, valued at approximately $1,801,000. Squarepoint Ops LLC owned 0.22% of Park Aerospace as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Park Aerospace in the second quarter valued at approximately $55,207,000. Stephens Investment Management Group LLC bought a new position in shares of Park Aerospace in the first quarter worth approximately $14,926,000. Next Century Growth Investors LLC increased its position in shares of Park Aerospace by 93.0% in the fourth quarter. Next Century Growth Investors LLC now owns 526,054 shares of the semiconductor company's stock valued at $11,226,000 after acquiring an additional 253,508 shares during the period. Bank of New York Mellon Corp purchased a new position in Park Aerospace during the 2nd quarter valued at about $7,639,000. Finally, Sei Investments Co. raised its holdings in shares of Park Aerospace by 116.2% during the first quarter. Sei Investments Co. now owns 263,034 shares of the semiconductor company's stock valued at $7,202,000 after acquiring an additional 141,359 shares in the last quarter. 77.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PKE has been the subject of several research analyst reports. Wall Street Zen lowered shares of Park Aerospace from a "buy" rating to a "hold" rating in a report on Saturday, August 22nd. Citigroup reaffirmed a "market outperform" rating on shares of Park Aerospace in a report on Tuesday, July 21st. Needham & Company LLC reissued a "buy" rating and issued a $43.00 target price on shares of Park Aerospace in a research report on Tuesday, July 21st. Citizens Jmp assumed coverage on shares of Park Aerospace in a research note on Tuesday, June 9th. They set a "market outperform" rating and a $42.00 target price for the company. Finally, Weiss Ratings downgraded Park Aerospace from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $42.50.

Insider Activity at Park Aerospace

In related news, insider Constantine Petropoulos sold 2,500 shares of the firm's stock in a transaction on Monday, July 27th. The shares were sold at an average price of $36.00, for a total value of $90,000.00. Following the completion of the transaction, the insider directly owned 2,500 shares of the company's stock, valued at approximately $90,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 7.10% of the company's stock.

Park Aerospace Stock Up 0.7%

PKE stock opened at $30.94 on Wednesday. The business's 50-day moving average price is $34.05 and its 200-day moving average price is $32.70. The stock has a market cap of $672.95 million, a P/E ratio of 49.11 and a beta of 0.40. Park Aerospace Corp. has a twelve month low of $18.25 and a twelve month high of $39.86.

Park Aerospace (NYSE:PKE - Get Free Report) last released its quarterly earnings data on Monday, July 20th. The semiconductor company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. The firm had revenue of $18.31 million during the quarter, compared to analyst estimates of $17.95 million. Park Aerospace had a return on equity of 10.75% and a net margin of 16.70%.

Park Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 4th. Stockholders of record on Thursday, October 1st will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Thursday, October 1st. Park Aerospace's dividend payout ratio is currently 79.37%.

Park Aerospace Profile

Park Aerospace Corp. NYSE: PKE develops and manufactures advanced composite materials and composite parts primarily for the aerospace industry. Its products are used in aircraft structures and other applications that require lightweight, high-strength materials designed to withstand demanding operating conditions.

The company's product portfolio includes carbon-fiber and other fiber-reinforced composite materials, prepregs, laminates, film adhesives, and structural composite components.

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