Bain Capital Credit Member, Ll Sells 11,000,000 Shares of Redwire (NYSE:RDW) 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 Redwire stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $7.83, for a total value of $86,130,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

Redwire Price Performance

NYSE:RDW traded down $0.07 during trading hours on Friday, reaching $7.94. 10,033,761 shares of the company traded hands, compared to its average volume of 4,492,687. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.46 and a quick ratio of 1.11. The firm's 50-day moving average is $11.39 and its 200-day moving average is $12.29. Redwire Corporation has a 1-year low of $6.30 and a 1-year high of $26.66.

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

Institutional Trading of Redwire

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. raised its holdings in shares of Redwire by 31.7% in the 2nd quarter. Osaic Holdings Inc. now owns 15,983 shares of the company's stock worth $261,000 after purchasing an additional 3,851 shares in the last quarter. AE Industrial Partners LP boosted its stake in shares of Redwire by 139.3% during the 2nd quarter. AE Industrial Partners LP now owns 85,496,745 shares of the company's stock worth $1,394,000 after acquiring an additional 49,765,262 shares in the last quarter. Hudson Bay Capital Management LP acquired a new position in shares of Redwire in the 2nd quarter worth $2,139,000. Tower Research Capital LLC TRC raised its position in shares of Redwire by 32.3% during the second quarter. Tower Research Capital LLC TRC now owns 6,279 shares of the company's stock worth $102,000 after purchasing an additional 1,533 shares during the period. Finally, Sender Co & Partners Inc. lifted its holdings in shares of Redwire by 184.0% during the second quarter. Sender Co & Partners Inc. now owns 78,966 shares of the company's stock valued at $1,287,000 after purchasing an additional 51,164 shares during the last quarter. Institutional investors own 8.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RDW shares. Roth Capital reissued a "buy" rating on shares of Redwire in a research note on Tuesday, June 24th. B. Riley decreased their price objective on Redwire from $25.00 to $20.00 and set a "buy" rating on the stock in a report on Friday, August 8th. HC Wainwright reaffirmed a "buy" rating and issued a $22.00 price objective (down previously from $26.00) on shares of Redwire in a research report on Friday, August 8th. Bank of America began coverage on Redwire in a research report on Monday, August 18th. They set an "underperform" rating and a $10.00 target price on the stock. Finally, Truist Financial set a $16.00 price objective on shares of Redwire and gave the company a "hold" rating in a research note on Thursday, June 26th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Redwire currently has an average rating of "Moderate Buy" and a consensus 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.