AXQ Capital LP Takes $640,000 Position in Gates Industrial Corp PLC (NYSE:GTES)

AXQ Capital LP acquired a new stake in Gates Industrial Corp PLC (NYSE:GTES) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 31,128 shares of the company’s stock, valued at approximately $640,000.

A number of other large investors have also bought and sold shares of the business. Tectonic Advisors LLC increased its position in shares of Gates Industrial by 3.6% during the fourth quarter. Tectonic Advisors LLC now owns 20,852 shares of the company’s stock worth $429,000 after acquiring an additional 724 shares in the last quarter. SRS Capital Advisors Inc. increased its holdings in Gates Industrial by 38.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company’s stock worth $54,000 after purchasing an additional 724 shares in the last quarter. Amalgamated Bank raised its stake in shares of Gates Industrial by 1.5% in the 4th quarter. Amalgamated Bank now owns 70,711 shares of the company’s stock valued at $1,455,000 after purchasing an additional 1,047 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Gates Industrial by 29.0% in the fourth quarter. GAMMA Investing LLC now owns 5,026 shares of the company’s stock valued at $103,000 after purchasing an additional 1,130 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of Gates Industrial by 14.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 9,005 shares of the company’s stock worth $184,000 after buying an additional 1,140 shares during the period. 98.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Fredrik J. Eliasson purchased 60,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $19.56 per share, with a total value of $1,173,600.00. Following the acquisition, the director now owns 188,452 shares in the company, valued at approximately $3,686,121.12. This trade represents a 46.71 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.30% of the stock is currently owned by insiders.

Gates Industrial Price Performance

NYSE:GTES opened at $19.33 on Friday. Gates Industrial Corp PLC has a 12-month low of $15.14 and a 12-month high of $23.85. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 26.48 and a beta of 1.33. The stock’s 50 day moving average price is $20.84 and its two-hundred day moving average price is $20.04. The company has a quick ratio of 2.26, a current ratio of 3.20 and a debt-to-equity ratio of 0.72.

Gates Industrial (NYSE:GTES) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.33 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.33. Gates Industrial had a return on equity of 9.75% and a net margin of 5.72%. On average, analysts anticipate that Gates Industrial Corp PLC will post 1.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GTES has been the topic of a number of recent research reports. The Goldman Sachs Group dropped their target price on Gates Industrial from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Wednesday. Royal Bank of Canada increased their target price on shares of Gates Industrial from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Barclays lowered their price target on shares of Gates Industrial from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. KeyCorp increased their price objective on shares of Gates Industrial from $23.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Finally, Jefferies Financial Group lifted their target price on Gates Industrial from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Gates Industrial currently has an average rating of “Moderate Buy” and an average target price of $24.11.

Gates Industrial Company Profile

Gates Industrial Corporation PLC designs and manufactures power transmission equipment. Its products serves harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation.