Bank of New York Mellon Corp Increases Position in Redwire Co. (NYSE:RDW)

Bank of New York Mellon Corp raised its position in shares of Redwire Co. (NYSE:RDW) by 6.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,170 shares of the company’s stock after buying an additional 3,357 shares during the period. Bank of New York Mellon Corp owned about 0.08% of Redwire worth $859,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of RDW. Penserra Capital Management LLC increased its position in shares of Redwire by 16.5% during the third quarter. Penserra Capital Management LLC now owns 74,626 shares of the company’s stock worth $512,000 after acquiring an additional 10,558 shares during the period. MetLife Investment Management LLC grew its stake in Redwire by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock worth $97,000 after purchasing an additional 7,921 shares in the last quarter. Stifel Financial Corp purchased a new stake in Redwire during the 3rd quarter worth about $139,000. State Street Corp raised its position in Redwire by 8.1% in the 3rd quarter. State Street Corp now owns 473,295 shares of the company’s stock valued at $3,252,000 after purchasing an additional 35,519 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Redwire by 55.8% in the 3rd quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock valued at $8,115,000 after buying an additional 422,854 shares during the period. 8.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Redwire

In other Redwire news, major shareholder Park Lp Genesis II sold 10,115 shares of Redwire stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $24.11, for a total value of $243,872.65. Following the completion of the sale, the insider now directly owns 3,644,566 shares of the company’s stock, valued at approximately $87,870,486.26. The trade was a 0.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 684,454 shares of company stock valued at $13,682,993. 2.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on RDW. B. Riley reduced their target price on shares of Redwire from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. Cantor Fitzgerald restated an “overweight” rating and issued a $28.00 price objective on shares of Redwire in a report on Tuesday, March 11th. Alliance Global Partners reiterated a “buy” rating on shares of Redwire in a research note on Tuesday, March 11th. Finally, HC Wainwright restated a “buy” rating and issued a $26.00 price target on shares of Redwire in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.71.

Redwire Stock Up 2.0 %

Shares of RDW stock opened at $11.76 on Wednesday. Redwire Co. has a fifty-two week low of $3.39 and a fifty-two week high of $26.66. The business has a fifty day simple moving average of $17.29 and a 200-day simple moving average of $13.00. The stock has a market cap of $782.52 million, a P/E ratio of -9.72 and a beta of 2.33.

About Redwire

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.