De Lima Filho Pedro Batista Sells 751,200 Shares of Brazilian Electric Power (NYSE:AXIA) Stock

Key Points

• Director De Lima Filho Pedro Batista sold 751,200 shares of Brazilian Electric Power (NYSE:AXIA) on May 18 at an average price of $10.51, for about $7.9 million. After the sale, he still held 797,446 shares, reducing his ownership by 48.51%.
• The director has been actively trading the stock recently, including multiple large sales and one purchase in May, such as a 3.66 million-share buy and a 3.94 million-share sale on May 8. The activity suggests significant insider repositioning over a short period.
• AXIA shares were up 3.7% to $11.09 in Wednesday trading, while analysts currently rate the stock a Hold on average. The company has also seen mixed institutional activity, with several funds adding stakes in the latest quarter.

Brazilian Electric Power Co (NYSE:AXIA - Get Free Report) Director De Lima Filho Pedro Batista sold 751,200 shares of Brazilian Electric Power stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $10.51, for a total transaction of $7,895,112.00. Following the completion of the sale, the director directly owned 797,446 shares of the company's stock, valued at $8,381,157.46. The trade was a 48.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

De Lima Filho Pedro Batista also recently made the following trade(s):

• On Monday, May 18th, De Lima Filho Pedro Batista purchased 49,600 shares of Brazilian Electric Power stock. The stock was bought at an average price of $11.27 per share, for a total transaction of $558,992.00.
• On Friday, May 15th, De Lima Filho Pedro Batista sold 861,500 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.48, for a total transaction of $9,028,520.00.
• On Wednesday, May 13th, De Lima Filho Pedro Batista sold 666,300 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.74, for a total transaction of $7,156,062.00.
• On Monday, May 11th, De Lima Filho Pedro Batista sold 646,900 shares of Brazilian Electric Power stock. The shares were sold at an average price of $11.05, for a total transaction of $7,148,245.00.
• On Friday, May 8th, De Lima Filho Pedro Batista sold 3,938,700 shares of Brazilian Electric Power stock. The shares were sold at an average price of $11.86, for a total transaction of $46,712,982.00.
• On Friday, May 8th, De Lima Filho Pedro Batista purchased 3,656,500 shares of Brazilian Electric Power stock. The stock was bought at an average price of $11.90 per share, for a total transaction of $43,512,350.00.
• On Monday, April 20th, De Lima Filho Pedro Batista sold 1,397,982 shares of Brazilian Electric Power stock. The shares were sold at an average price of $12.54, for a total transaction of $17,530,694.28.
• On Friday, April 17th, De Lima Filho Pedro Batista sold 1,640,600 shares of Brazilian Electric Power stock. The shares were sold at an average price of $12.46, for a total transaction of $20,441,876.00.

Brazilian Electric Power Stock Up 3.7%

Shares of AXIA traded up $0.40 during mid-day trading on Wednesday, reaching $11.09. The company had a trading volume of 1,403,371 shares, compared to its average volume of 2,338,461. The firm has a market cap of $24.95 billion, a PE ratio of 277.13, a price-to-earnings-growth ratio of 1.56 and a beta of 0.52. Brazilian Electric Power Co has a fifty-two week low of $6.71 and a fifty-two week high of $13.54. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.52.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Sei Investments Co. acquired a new stake in shares of Brazilian Electric Power in the 1st quarter worth approximately $461,000. Cetera Investment Advisers lifted its stake in shares of Brazilian Electric Power by 53.6% in the 1st quarter. Cetera Investment Advisers now owns 37,934 shares of the company's stock worth $428,000 after acquiring an additional 13,237 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Brazilian Electric Power in the 1st quarter worth approximately $150,000. Sanctuary Advisors LLC lifted its stake in shares of Brazilian Electric Power by 28.2% in the 1st quarter. Sanctuary Advisors LLC now owns 21,953 shares of the company's stock worth $248,000 after acquiring an additional 4,834 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Brazilian Electric Power by 1.8% in the 1st quarter. Principal Financial Group Inc. now owns 89,314 shares of the company's stock worth $1,007,000 after acquiring an additional 1,559 shares during the period. 2.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AXIA has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Brazilian Electric Power from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings initiated coverage on shares of Brazilian Electric Power in a research report on Tuesday, April 7th. They set a "hold (c)" rating for the company. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of "Hold".

About Brazilian Electric Power

Centrais Elétricas Brasileiras SA - Eletrobras, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in Brazil. The company generates electricity through hydroelectric, thermal, nuclear, wind, and solar plants. As of December 31, 2020, it owned and operated 31 hydroelectric plants with a total installed capacity of 50,648 megawatts; seven thermal plants, including coal, and oil and gas power generation units with a total installed capacity of 1,595 megawatts; and two nuclear power plants comprising Angra I with an installed capacity of 640 megawatts and Angra II with an installed capacity of 1,350 megawatts.

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