Bares Capital Management Inc. Lowers Stake in Astronics Co. (NASDAQ:ATRO)

Bares Capital Management Inc. trimmed its holdings in Astronics Co. (NASDAQ:ATRO) by 97.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 24,851 shares of the aerospace company’s stock after selling 879,500 shares during the period. Astronics accounts for approximately 0.0% of Bares Capital Management Inc.’s portfolio, making the stock its 15th largest position. Bares Capital Management Inc. owned about 0.07% of Astronics worth $484,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ATRO. Cubist Systematic Strategies LLC acquired a new stake in shares of Astronics in the 2nd quarter worth $857,000. Algert Global LLC raised its holdings in Astronics by 367.2% during the third quarter. Algert Global LLC now owns 56,072 shares of the aerospace company’s stock worth $1,092,000 after purchasing an additional 44,070 shares in the last quarter. Black Swift Group LLC acquired a new stake in Astronics in the third quarter valued at about $756,000. First Eagle Investment Management LLC boosted its holdings in Astronics by 8.5% in the 2nd quarter. First Eagle Investment Management LLC now owns 391,426 shares of the aerospace company’s stock valued at $7,840,000 after purchasing an additional 30,550 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Astronics by 115.4% during the 3rd quarter. SG Americas Securities LLC now owns 11,387 shares of the aerospace company’s stock worth $222,000 after purchasing an additional 6,101 shares during the period. Institutional investors and hedge funds own 56.68% of the company’s stock.

Astronics Stock Performance

Shares of ATRO opened at $16.23 on Tuesday. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. Astronics Co. has a 52-week low of $14.13 and a 52-week high of $23.74. The company has a 50-day simple moving average of $18.06 and a 200-day simple moving average of $19.43. The company has a market capitalization of $572.27 million, a PE ratio of -85.42 and a beta of 1.79.

Analyst Upgrades and Downgrades

Separately, Truist Financial reduced their price target on Astronics from $22.00 to $20.00 and set a “hold” rating for the company in a report on Friday, October 18th.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.