Trexquant Investment LP Boosts Stock Holdings in Astronics Corporation $ATRO

Key Points

• Trexquant Investment LP increased its stake in Astronics Corporation by 126.3%, acquiring 73,138 shares, bringing its total to 131,038 shares valued at approximately $3.17 million.
• Institutional investors own 56.68% of Astronics stock, with several firms like Signaturefd LLC and CWM LLC significantly increasing their holdings in the first quarter.
• Astronics reported $0.38 EPS for the last quarter, exceeding expectations, while analysts maintain a consensus rating of "Strong Buy" with a target price of $49.00.

Trexquant Investment LP lifted its position in shares of Astronics Corporation (NASDAQ:ATRO - Free Report) by 126.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 131,038 shares of the aerospace company's stock after purchasing an additional 73,138 shares during the period. Trexquant Investment LP owned about 0.37% of Astronics worth $3,167,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ATRO. Signaturefd LLC lifted its position in shares of Astronics by 88.5% during the 1st quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company's stock worth $35,000 after purchasing an additional 679 shares during the last quarter. CWM LLC lifted its position in shares of Astronics by 192.2% during the 1st quarter. CWM LLC now owns 2,592 shares of the aerospace company's stock worth $63,000 after purchasing an additional 1,705 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Astronics by 167.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company's stock worth $66,000 after purchasing an additional 2,600 shares during the last quarter. GAMMA Investing LLC lifted its position in Astronics by 16,616.7% in the first quarter. GAMMA Investing LLC now owns 6,018 shares of the aerospace company's stock valued at $145,000 after acquiring an additional 5,982 shares during the last quarter. Finally, Freestone Grove Partners LP purchased a new stake in Astronics in the fourth quarter valued at $172,000. 56.68% of the stock is owned by hedge funds and other institutional investors.

Astronics Price Performance

ATRO traded up $0.43 on Monday, hitting $39.11. 84,153 shares of the company were exchanged, compared to its average volume of 532,182. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.63 and a current ratio of 3.04. The business's fifty day moving average is $34.61 and its 200 day moving average is $29.37. Astronics Corporation has a fifty-two week low of $14.13 and a fifty-two week high of $39.50. The firm has a market capitalization of $1.38 billion, a P/E ratio of -325.68 and a beta of 1.69.

Astronics (NASDAQ:ATRO - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The aerospace company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.33 by $0.05. The business had revenue of $204.68 million for the quarter, compared to analyst estimates of $208.29 million. Astronics had a negative net margin of 0.45% and a positive return on equity of 22.89%. As a group, sell-side analysts anticipate that Astronics Corporation will post 0.82 EPS for the current year.

Wall Street Analysts Forecast Growth

ATRO has been the subject of a number of research reports. Truist Financial raised shares of Astronics from a "hold" rating to a "buy" rating and set a $49.00 price target for the company in a research report on Friday, July 11th. Wall Street Zen cut shares of Astronics from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Zacks Research raised shares of Astronics to a "strong-buy" rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Strong Buy" and a consensus target price of $49.00.

Astronics Company Profile

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.