Cooper Creek Partners Management LLC Purchases New Shares in Babcock $BW

Key Points

• Cooper Creek Partners Management opened a new position in Babcock during the first quarter, buying 1,035,050 shares worth about $15.2 million. The stake represented 0.76% of the company at the end of the reporting period.
• Other institutional investors have also been active in BW, and overall institutional ownership stands at 83.17% of the stock. That suggests the shares remain widely held by hedge funds and other large investors.
• Babcock recently posted a mixed earnings report, with revenue beating expectations but EPS missing estimates by a wide margin. Analysts currently have a Hold consensus rating on the stock, with an average price target of $14.25.

Cooper Creek Partners Management LLC purchased a new position in shares of Babcock (NYSE:BW - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,035,050 shares of the technology company's stock, valued at approximately $15,205,000. Cooper Creek Partners Management LLC owned 0.76% of Babcock at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank boosted its position in Babcock by 400,000.0% in the 4th quarter. Huntington National Bank now owns 4,001 shares of the technology company's stock valued at $25,000 after buying an additional 4,000 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new position in shares of Babcock in the fourth quarter worth about $25,000. Centiva Capital LP purchased a new position in Babcock in the third quarter valued at about $31,000. Raymond James Financial Inc. grew its stake in Babcock by 11,311.3% during the 3rd quarter. Raymond James Financial Inc. now owns 12,096 shares of the technology company's stock valued at $35,000 after purchasing an additional 11,990 shares in the last quarter. Finally, Sender Co & Partners Inc. purchased a new stake in Babcock during the 3rd quarter worth approximately $50,000. Institutional investors and hedge funds own 83.17% of the company's stock.

Babcock Stock Performance

Shares of BW stock opened at $9.67 on Friday. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -10.99 and a beta of 1.16. Babcock has a one year low of $0.87 and a one year high of $22.03. The company's 50-day simple moving average is $14.97 and its 200-day simple moving average is $13.47.

Babcock (NYSE:BW - Get Free Report) last announced its quarterly earnings data on Monday, May 11th. The technology company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.57). The company had revenue of $214.41 million during the quarter, compared to analysts' expectations of $149.72 million. As a group, research analysts forecast that Babcock will post 0.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BW shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Babcock in a research report on Friday, July 17th. Northland Securities set a $23.00 price target on shares of Babcock in a research report on Tuesday, May 12th. Finally, Wall Street Zen lowered shares of Babcock from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Babcock currently has a consensus rating of "Hold" and an average target price of $14.25.

Babcock Company Profile

Babcock & Wilcox Enterprises, Inc NYSE: BW is a specialized provider of energy and environmental technologies and services serving power generation and heavy industrial markets. The company designs, manufactures and maintains critical components and systems that support the safe and efficient operation of both fossil-fuel and renewable power facilities. Its core offerings include industrial and utility boilers, environmental control systems for emissions reduction, and aftermarket support services ranging from inspection and maintenance to spare parts management.

In addition to its boiler and emissions control portfolio, Babcock & Wilcox Enterprises delivers lifecycle solutions aimed at enhancing plant performance and compliance.

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