Longboard Asset Management LP Takes $212,000 Position in Leonardo DRS, Inc. (NASDAQ:DRS)

Longboard Asset Management LP bought a new stake in Leonardo DRS, Inc. (NASDAQ:DRS) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 6,548 shares of the company’s stock, valued at approximately $212,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Covestor Ltd lifted its holdings in Leonardo DRS by 226.8% during the 3rd quarter. Covestor Ltd now owns 1,814 shares of the company’s stock worth $51,000 after buying an additional 1,259 shares during the last quarter. KBC Group NV lifted its holdings in Leonardo DRS by 42.5% during the 3rd quarter. KBC Group NV now owns 2,585 shares of the company’s stock worth $73,000 after buying an additional 771 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Leonardo DRS during the 3rd quarter worth about $109,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Leonardo DRS during the 3rd quarter worth about $113,000. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in Leonardo DRS during the 4th quarter worth about $213,000. 18.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Leonardo DRS

In related news, SVP Pamela Morrow sold 11,100 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $34.81, for a total value of $386,391.00. Following the completion of the transaction, the senior vice president now directly owns 12,565 shares of the company’s stock, valued at $437,387.65. This trade represents a 46.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael Dippold sold 25,880 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $34.08, for a total value of $881,990.40. Following the completion of the transaction, the chief financial officer now directly owns 47,028 shares of the company’s stock, valued at $1,602,714.24. The trade was a 35.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 143,083 shares of company stock worth $4,935,505 in the last quarter. Company insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on DRS shares. Robert W. Baird lifted their price target on Leonardo DRS from $30.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. boosted their target price on Leonardo DRS from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, Truist Financial boosted their target price on Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.00.

Leonardo DRS Stock Performance

Shares of DRS stock opened at $35.12 on Wednesday. The stock has a market capitalization of $9.29 billion, a PE ratio of 47.46, a price-to-earnings-growth ratio of 1.55 and a beta of 1.01. Leonardo DRS, Inc. has a 52-week low of $18.73 and a 52-week high of $37.99. The stock’s 50-day moving average price is $34.28 and its 200 day moving average price is $31.12. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.14.

Leonardo DRS Company Profile

Leonardo DRS, Inc, together with its subsidiaries, provides defense electronic products and systems, and military support services. It operates through Advanced Sensing and Computing (ASC) segment, and Integrated Mission Systems (IMS) segments. The ASC segment designs, develops, and manufacture sensing and network computing technology that enables real-time situational awareness required for enhanced operational decision making and execution; and offers sensing capabilities span applications, such as missions requiring advanced detection, precision targeting and surveillance sensing, long range electro-optic/infrared, signals intelligence, and other intelligence systems including electronic warfare, ground vehicle sensing, active electronically scanned array tactical radars, dismounted soldier, and space sensing.