The Manufacturers Life Insurance Company Invests $1.30 Million in Redwire Corporation $RDW

The Manufacturers Life Insurance Company acquired a new position in Redwire Corporation (NYSE:RDW) during the 2nd quarter, HoldingsChannel reports. The fund acquired 106,576 shares of the company’s stock, valued at approximately $1,303,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Parallel Advisors LLC bought a new position in Redwire during the 1st quarter worth $28,000. KBC Group NV bought a new stake in Redwire in the first quarter valued at approximately $29,000. Sunbelt Securities Inc. boosted its holdings in Redwire by 601.1% in the fourth quarter. Sunbelt Securities Inc. now owns 3,961 shares of the company’s stock valued at $30,000 after acquiring an additional 3,396 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in Redwire by 1,054.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,016 shares of the company’s stock valued at $31,000 after purchasing an additional 3,668 shares during the period. Finally, CWM LLC increased its position in Redwire by 1,725.0% during the 4th quarter. CWM LLC now owns 4,088 shares of the company’s stock valued at $31,000 after purchasing an additional 3,864 shares during the period. 8.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Bank of America boosted their price target on shares of Redwire from $7.00 to $8.00 and gave the stock an “underperform” rating in a research report on Monday, August 31st. Jefferies Financial Group set a $15.00 target price on shares of Redwire in a research note on Sunday, August 9th. Canaccord Genuity Group boosted their target price on shares of Redwire from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, August 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Redwire in a research report on Friday, July 17th. Finally, Wall Street Zen upgraded Redwire from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $14.69.

Redwire Stock Performance

NYSE:RDW opened at $10.55 on Friday. The company has a quick ratio of 3.48, a current ratio of 3.92 and a debt-to-equity ratio of 0.03. Redwire Corporation has a twelve month low of $4.87 and a twelve month high of $26.64. The company has a fifty day moving average of $10.77 and a 200-day moving average of $11.48. The firm has a market capitalization of $2.64 billion, a P/E ratio of -7.23 and a beta of 3.08.

Redwire (NYSE:RDW) last issued its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.07. The business had revenue of $117.07 million for the quarter, compared to analyst estimates of $107.10 million. Redwire had a negative net margin of 57.26% and a negative return on equity of 11.02%. As a group, sell-side analysts anticipate that Redwire Corporation will post -0.7 EPS for the current year.

Insider Buying and Selling at Redwire

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the transaction, the director owned 1,077,419 shares of the company’s stock, valued at $23,142,960.12. This represents a 49.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.79% of the company’s stock.

Redwire 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.