Kornitzer Capital Management Inc. KS Has $1,383,000 Position in Astronics Corporation (NASDAQ:ATRO)
Kornitzer Capital Management Inc. KS continued to hold its stake in Astronics Corporation (NASDAQ:ATRO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,400 shares of the aerospace company’s stock at the end of the second quarter. Kornitzer Capital Management Inc. KS owned 0.16% of Astronics Corporation worth $1,383,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the stock. ACK Asset Management LLC bought a new stake in Astronics Corporation during the first quarter worth about $13,238,000. FMR LLC boosted its stake in Astronics Corporation by 17.2% in the first quarter. FMR LLC now owns 1,384,669 shares of the aerospace company’s stock worth $43,936,000 after buying an additional 202,782 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Astronics Corporation during the first quarter worth about $2,386,000. Citadel Advisors LLC bought a new stake in Astronics Corporation during the first quarter worth about $1,674,000. Finally, Dimensional Fund Advisors LP boosted its stake in Astronics Corporation by 7.3% in the first quarter. Dimensional Fund Advisors LP now owns 686,882 shares of the aerospace company’s stock worth $21,795,000 after buying an additional 47,004 shares in the last quarter. 63.89% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Astronics Corporation (ATRO) opened at 25.95 on Tuesday. Astronics Corporation has a 52 week low of $25.07 and a 52 week high of $41.03. The firm’s 50-day moving average is $30.36 and its 200 day moving average is $31.37. The firm has a market cap of $738.59 million, a PE ratio of 18.83 and a beta of 1.13.
Astronics Corporation (NASDAQ:ATRO) last released its quarterly earnings data on Wednesday, August 2nd. The aerospace company reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.14. The business had revenue of $151.11 million during the quarter, compared to analysts’ expectations of $162.33 million. Astronics Corporation had a return on equity of 12.21% and a net margin of 6.73%. The company’s revenue was down 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS. Equities research analysts forecast that Astronics Corporation will post $1.42 EPS for the current year.
A number of equities research analysts recently issued reports on ATRO shares. Zacks Investment Research raised shares of Astronics Corporation from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Tuesday, July 4th. BidaskClub cut shares of Astronics Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. TheStreet raised shares of Astronics Corporation from a “c+” rating to a “b-” rating in a research note on Thursday, May 4th. Finally, Canaccord Genuity dropped their price target on shares of Astronics Corporation from $40.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $34.33.
About Astronics Corporation
Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems.
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