The Manufacturers Life Insurance Company Takes Position in Redwire Corporation $RDW

Key Points

• The Manufacturers Life Insurance Company initiated a position in Redwire by purchasing 106,576 shares valued at approximately $1.3 million during the second quarter. Several other institutional investors also bought shares, bringing institutional ownership to 8.10%.
• Redwire reported quarterly revenue of $117.1 million and an adjusted EPS loss of $0.09, beating analyst expectations for revenue of $107.1 million and an EPS loss of $0.16. Despite the earnings beat, the company posted a negative net margin of 57.26%.
• Analyst sentiment remains mixed, with ratings ranging from “buy” to “sell”; the stock has an average rating of “Hold” and an average price target of $14.69, compared with a recent price of $10.55.

The Manufacturers Life Insurance Company purchased a new position in Redwire Corporation (NYSE:RDW - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 106,576 shares of the company's stock, valued at approximately $1,303,000.

Several other institutional investors and hedge funds have also bought and sold shares of RDW. Algert Global LLC increased its holdings in Redwire by 247.6% in the 2nd quarter. Algert Global LLC now owns 175,870 shares of the company's stock valued at $2,151,000 after buying an additional 125,270 shares during the period. Mission Financial Group LLC bought a new stake in shares of Redwire during the 2nd quarter worth approximately $338,000. Ieq Capital LLC acquired a new stake in shares of Redwire during the 2nd quarter worth approximately $1,459,000. Keebeck Wealth Management acquired a new stake in shares of Redwire during the 2nd quarter worth approximately $362,000. Finally, Allworth Financial LP bought a new position in Redwire in the second quarter valued at approximately $90,000. Institutional investors own 8.10% of the company's stock.

Redwire Stock Performance

NYSE RDW opened at $10.55 on Friday. The firm's fifty day moving average price is $10.77 and its two-hundred day moving average price is $11.48. The stock has a market cap of $2.64 billion, a PE ratio of -7.23 and a beta of 3.08. 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 Corporation has a fifty-two week low of $4.87 and a fifty-two week high of $26.64.

Redwire (NYSE:RDW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.16) by $0.07. The company had revenue of $117.07 million during the quarter, compared to analysts' expectations of $107.10 million. Redwire had a negative return on equity of 11.02% and a negative net margin of 57.26%. On average, equities analysts expect that Redwire Corporation will post -0.7 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of Redwire 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 sale, the director directly owned 1,077,419 shares of the company's stock, valued at approximately $23,142,960.12. This trade represents a 49.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.79% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Redwire in a research report on Friday, July 17th. Bank of America lifted their price target on Redwire from $7.00 to $8.00 and gave the company an "underperform" rating in a research note on Monday, August 31st. Canaccord Genuity Group boosted their price target on Redwire from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Alliance Global Partners reaffirmed a "buy" rating on shares of Redwire in a research note on Thursday, August 6th. Finally, Wall Street Zen raised Redwire from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $14.69.

About Redwire

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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