Redwire (NYSE:RDW) Major Shareholder Sells $86,130,000.00 in Stock

Key Points

• Bain Capital Credit Member, a major shareholder of Redwire Corporation (NYSE:RDW), sold 11 million shares at an average price of $7.83, totaling approximately $86.1 million.
• Following the sale, Redwire's stock price fell by 12.7%, closing at $7.86 with a trading volume significantly above its average.
• Redwire's recent quarterly earnings report showed a loss of ($0.39) earnings per share, which was worse than analysts' expectations, along with revenues falling short of estimates.

Redwire Corporation (NYSE:RDW - Get Free Report) major shareholder Bain Capital Credit Member, Ll sold 11,000,000 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $7.83, for a total transaction of $86,130,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Redwire Trading Down 0.9%

Redwire stock traded down $0.07 during midday trading on Friday, reaching $7.94. The stock had a trading volume of 10,033,761 shares, compared to its average volume of 4,150,965. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -2.44 and a beta of 2.49. Redwire Corporation has a 52-week low of $6.30 and a 52-week high of $26.66. The company has a quick ratio of 1.11, a current ratio of 1.46 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average of $11.39 and a 200 day moving average of $12.31.

Redwire (NYSE:RDW - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.28). Redwire had a negative return on equity of 32.67% and a negative net margin of 71.95%.The company had revenue of $61.76 million for the quarter, compared to analyst estimates of $80.48 million. On average, analysts anticipate that Redwire Corporation will post -0.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RDW. KLP Kapitalforvaltning AS acquired a new position in shares of Redwire in the 1st quarter valued at $42,000. FNY Investment Advisers LLC purchased a new position in Redwire during the 1st quarter valued at about $47,000. GAMMA Investing LLC boosted its stake in shares of Redwire by 69,077.8% during the 1st quarter. GAMMA Investing LLC now owns 6,226 shares of the company's stock worth $52,000 after purchasing an additional 6,217 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Redwire in the second quarter worth approximately $54,000. Finally, SBI Securities Co. Ltd. boosted its position in shares of Redwire by 1,172.5% in the first quarter. SBI Securities Co. Ltd. now owns 8,106 shares of the company's stock worth $67,000 after acquiring an additional 7,469 shares during the last quarter. Institutional investors and hedge funds own 8.10% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Wall Street Zen cut shares of Redwire from a "hold" rating to a "strong sell" rating in a report on Saturday, August 9th. Canaccord Genuity Group reduced their target price on shares of Redwire from $21.00 to $17.50 and set a "buy" rating for the company in a report on Monday, August 11th. B. Riley reduced their target price on shares of Redwire from $25.00 to $20.00 and set a "buy" rating for the company in a report on Friday, August 8th. Truist Financial set a $16.00 target price on shares of Redwire and gave the stock a "hold" rating in a report on Thursday, June 26th. Finally, HC Wainwright reissued a "buy" rating and set a $22.00 target price (down previously from $26.00) on shares of Redwire in a report on Friday, August 8th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Redwire currently has a consensus rating of "Moderate Buy" and an average target price of $18.07.

Redwire Company 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.