Charles Schwab Investment Management Inc. Raises Position in Redwire Co. (NYSE:RDW)

Charles Schwab Investment Management Inc. lifted its holdings in Redwire Co. (NYSE:RDW) by 4.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,641 shares of the company’s stock after purchasing an additional 2,533 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Redwire were worth $1,080,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MetLife Investment Management LLC boosted its holdings in Redwire by 129.1% in the third quarter. MetLife Investment Management LLC now owns 14,058 shares of the company’s stock worth $97,000 after acquiring an additional 7,921 shares in the last quarter. Stifel Financial Corp acquired a new position in shares of Redwire during the third quarter valued at about $139,000. State Street Corp raised its position in shares of 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 during the last quarter. Barclays PLC boosted its stake in Redwire by 55.8% in the 3rd quarter. Barclays PLC now owns 1,181,138 shares of the company’s stock worth $8,115,000 after purchasing an additional 422,854 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Redwire by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock worth $3,599,000 after purchasing an additional 30,963 shares in the last quarter. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

Redwire Stock Performance

Shares of RDW opened at $8.81 on Monday. Redwire Co. has a one year low of $3.39 and a one year high of $26.66. The stock has a 50 day moving average price of $17.01 and a 200 day moving average price of $13.08. The stock has a market capitalization of $665.42 million, a price-to-earnings ratio of -7.28 and a beta of 2.33.

Analysts Set New Price Targets

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

Insider Activity

In other news, major shareholder Park Lp Genesis II sold 72,415 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $17.90, for a total value of $1,296,228.50. Following the completion of the sale, the insider now directly owns 4,422,853 shares in the company, valued at $79,169,068.70. This represents a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 589,213 shares of company stock worth $12,059,370 over the last three months. Insiders own 2.60% of the company’s stock.

Redwire 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.