Corsair Capital Management L.P. Has $669,000 Stock Position in Bel Fuse Inc. $BELFB

Key Points

• Corsair Capital Management L.P. reduced its stake in Bel Fuse Inc. by 18.3%, now owning 8,932 shares valued at approximately $669,000 as of the latest SEC filing.
• Analysts are optimistic about Bel Fuse, with increased target prices from various firms, including Northland Securities raising it to $110 and Needham & Company lifting it to $130, reflecting a consensus rating of "Buy."
• Bel Fuse has announced a quarterly dividend increase, with a new rate of $0.07 per share, up from $0.06, indicating a positive outlook for shareholders.

Corsair Capital Management L.P. trimmed its position in Bel Fuse Inc. (NASDAQ:BELFB - Free Report) by 18.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,932 shares of the electronics maker's stock after selling 2,000 shares during the quarter. Corsair Capital Management L.P. owned about 0.07% of Bel Fuse worth $669,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. State of Wyoming lifted its stake in shares of Bel Fuse by 189.9% in the first quarter. State of Wyoming now owns 4,114 shares of the electronics maker's stock worth $308,000 after buying an additional 2,695 shares during the last quarter. Tema Etfs LLC lifted its stake in shares of Bel Fuse by 351.3% in the first quarter. Tema Etfs LLC now owns 38,417 shares of the electronics maker's stock worth $2,876,000 after buying an additional 29,905 shares during the last quarter. Makaira Partners LLC acquired a new stake in shares of Bel Fuse in the first quarter worth $18,415,000. Aristides Capital LLC acquired a new stake in shares of Bel Fuse in the first quarter worth $225,000. Finally, Walleye Capital LLC acquired a new stake in shares of Bel Fuse in the first quarter worth $256,000. 58.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BELFB shares. Northland Securities upped their target price on shares of Bel Fuse from $93.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, June 30th. Baird R W upgraded shares of Bel Fuse to a "strong-buy" rating in a research note on Tuesday, June 10th. Oppenheimer set a $125.00 target price on shares of Bel Fuse and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Robert W. Baird started coverage on shares of Bel Fuse in a research note on Tuesday, June 10th. They set an "outperform" rating and a $88.00 target price for the company. Finally, Needham & Company LLC upped their target price on shares of Bel Fuse from $116.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Two research analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $113.60.

Bel Fuse Price Performance

NASDAQ:BELFB opened at $136.29 on Friday. The company has a 50-day moving average of $115.22 and a 200-day moving average of $89.17. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 33.40, a PEG ratio of 1.82 and a beta of 1.52. Bel Fuse Inc. has a 52 week low of $57.99 and a 52 week high of $141.80. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.72 and a current ratio of 3.05.

Bel Fuse Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, October 15th. This is a positive change from Bel Fuse's previous quarterly dividend of $0.06. Bel Fuse's payout ratio is 6.86%.

Insider Transactions at Bel Fuse

In other news, insider Stephen Dawson sold 1,200 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $127.07, for a total transaction of $152,484.00. Following the completion of the transaction, the insider directly owned 14,265 shares of the company's stock, valued at approximately $1,812,653.55. This trade represents a 7.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kenneth Koon Keung Lai sold 4,000 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $84.03, for a total transaction of $336,120.00. Following the sale, the vice president owned 12,155 shares of the company's stock, valued at $1,021,384.65. This trade represents a 24.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,100 shares of company stock valued at $731,804 over the last ninety days. 5.37% of the stock is owned by insiders.

About Bel Fuse

Bel Fuse Inc designs, manufactures, markets, and sells products that power, protect, and connect electronic circuits. The company's products are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries.

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