Voya Investment Management LLC Buys New Position in Redwire Corporation $RDW

Key Points

• Voya Investment Management LLC initiated a new Q3 position in Redwire, buying 2,266,098 shares worth about $20.37 million, equal to roughly 1.57% ownership.
• Analyst sentiment is mixed — the stock carries an average "Hold" rating with a consensus price target of $12.50, amid recent cuts and a range of buy/hold/sell opinions.
• Insiders have been buying: the CEO and EVP recently purchased shares, with insiders acquiring 56,065 shares in the last 90 days and now owning about 2.60% of the company.

Voya Investment Management LLC purchased a new stake in Redwire Corporation (NYSE:RDW - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,266,098 shares of the company's stock, valued at approximately $20,372,000. Voya Investment Management LLC owned approximately 1.57% of Redwire as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RDW. Gabelli Funds LLC lifted its position in shares of Redwire by 7.4% in the 1st quarter. Gabelli Funds LLC now owns 18,871 shares of the company's stock worth $156,000 after purchasing an additional 1,300 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Redwire by 32.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company's stock worth $102,000 after buying an additional 1,533 shares during the period. Vontobel Holding Ltd. boosted its position in Redwire by 10.4% during the 2nd quarter. Vontobel Holding Ltd. now owns 18,507 shares of the company's stock valued at $302,000 after acquiring an additional 1,751 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings in shares of Redwire by 71.2% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 7,724 shares of the company's stock worth $126,000 after acquiring an additional 3,213 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of Redwire by 12.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 30,396 shares of the company's stock worth $495,000 after acquiring an additional 3,248 shares in the last quarter. 8.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Redwire in a research report on Wednesday, October 8th. Cantor Fitzgerald dropped their target price on shares of Redwire from $20.00 to $9.00 and set an "overweight" rating on the stock in a report on Wednesday, December 10th. Zacks Research upgraded shares of Redwire from a "strong sell" rating to a "hold" rating in a research note on Monday, November 10th. Truist Financial lowered their price target on shares of Redwire from $11.00 to $8.00 and set a "hold" rating for the company in a research report on Friday, November 7th. Finally, Alliance Global Partners reaffirmed a "buy" rating on shares of Redwire in a research note on Thursday, November 6th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $12.50.

Redwire Price Performance

RDW opened at $8.02 on Monday. The firm has a market cap of $1.32 billion, a PE ratio of -2.53 and a beta of 2.48. The stock has a 50-day moving average price of $6.81 and a 200-day moving average price of $10.64. Redwire Corporation has a 1 year low of $4.87 and a 1 year high of $26.66. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.05.

Insiders Place Their Bets

In other news, EVP Aaron Michael Futch bought 18,410 shares of the company's stock in a transaction dated Friday, November 14th. The shares were purchased at an average price of $5.45 per share, for a total transaction of $100,334.50. Following the completion of the purchase, the executive vice president owned 88,704 shares in the company, valued at approximately $483,436.80. This represents a 26.19% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Peter Anthony Cannito, Jr. purchased 32,155 shares of Redwire stock in a transaction that occurred on Monday, November 10th. The shares were purchased at an average cost of $6.21 per share, with a total value of $199,682.55. Following the transaction, the chief executive officer directly owned 526,728 shares of the company's stock, valued at $3,270,980.88. This represents a 6.50% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders bought 56,065 shares of company stock valued at $330,047. Insiders own 2.60% of the company's stock.

Redwire Company 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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