Insider Buying: Babcock (NYSE:BW) CEO Buys 9,347 Shares of Stock

Key Points

• Babcock CEO Kenneth Young acquired $20,002.58 worth of stock by purchasing 9,347 shares at an average price of $2.14 each, increasing his ownership by 3.57%.
• The company's stock has shown significant fluctuations, with a 12-month low of $0.22 and a high of $2.99, and currently trades at $2.19.
• Babcock reported earnings of ($0.10) per share for its last quarter, missing estimates by $0.02, alongside a revenue of $144.10 million against an expected $182.07 million.

Babcock (NYSE:BW - Get Free Report) CEO Kenneth M. Young purchased 9,347 shares of Babcock stock in a transaction that occurred on Friday, September 5th. The stock was acquired at an average cost of $2.14 per share, with a total value of $20,002.58. Following the transaction, the chief executive officer owned 271,092 shares in the company, valued at $580,136.88. This trade represents a 3.57% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Babcock Stock Up 13.0%

NYSE:BW traded up $0.32 during trading hours on Friday, hitting $2.79. 4,110,471 shares of the company traded hands, compared to its average volume of 2,530,564. Babcock has a one year low of $0.22 and a one year high of $2.99. The firm's 50-day simple moving average is $1.50 and its 200-day simple moving average is $1.01. The company has a market cap of $282.06 million, a PE ratio of -1.64 and a beta of 1.83.

Babcock (NYSE:BW - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.02). The company had revenue of $144.10 million during the quarter, compared to analyst estimates of $182.07 million.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Two Sigma Advisers LP grew its holdings in shares of Babcock by 106.7% during the fourth quarter. Two Sigma Advisers LP now owns 26,734 shares of the technology company's stock worth $44,000 after purchasing an additional 13,800 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Babcock during the fourth quarter worth about $27,000. Northern Trust Corp grew its holdings in shares of Babcock by 13.8% during the fourth quarter. Northern Trust Corp now owns 146,996 shares of the technology company's stock worth $241,000 after purchasing an additional 17,860 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Babcock by 1.3% during the first quarter. Russell Investments Group Ltd. now owns 1,724,713 shares of the technology company's stock worth $1,160,000 after purchasing an additional 22,452 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Babcock during the fourth quarter worth about $46,000. Hedge funds and other institutional investors own 83.17% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on BW. Wall Street Zen lowered Babcock from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Craig Hallum raised Babcock from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $3.00.

Babcock Company Profile

Babcock & Wilcox Enterprises, Inc engages in the provision of fossil and renewable power generation and environmental equipment. It operates through the following segments: B&W Renewable, B&W Environmental, and B&W Thermal. The B&W Renewable segment supports a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.