Cubist Systematic Strategies LLC Invests $939,000 in Gates Industrial Corporation PLC $GTES

Key Points

• Cubist Systematic Strategies LLC acquired 51,001 shares of Gates Industrial Corporation PLC (GTES) valued at approximately $939,000, marking a significant new position for the institutional investor.
• Several institutional investors have increased their stakes in GTES, with notable increases including Driehaus Capital Management LLC growing its position by 4,976.3%.
• Analysts have a consensus rating of "Moderate Buy" for GTES, with target prices ranging from $28.00 to $30.00, reflecting positive market sentiment regarding the company's growth prospects.

Cubist Systematic Strategies LLC bought a new position in shares of Gates Industrial Corporation PLC (NYSE:GTES - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 51,001 shares of the company's stock, valued at approximately $939,000.

Several other institutional investors also recently modified their holdings of GTES. SVB Wealth LLC acquired a new position in shares of Gates Industrial during the 1st quarter worth about $34,000. Avanza Fonder AB acquired a new position in shares of Gates Industrial during the 1st quarter worth about $145,000. GAMMA Investing LLC grew its position in shares of Gates Industrial by 81.0% during the 1st quarter. GAMMA Investing LLC now owns 9,099 shares of the company's stock worth $168,000 after buying an additional 4,073 shares during the period. Versant Capital Management Inc grew its position in shares of Gates Industrial by 295.1% during the 1st quarter. Versant Capital Management Inc now owns 9,853 shares of the company's stock worth $181,000 after buying an additional 7,359 shares during the period. Finally, PharVision Advisers LLC acquired a new position in shares of Gates Industrial during the 4th quarter worth about $203,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GTES has been the subject of several analyst reports. KeyCorp restated an "overweight" rating and set a $30.00 target price (up from $26.00) on shares of Gates Industrial in a research report on Thursday, July 31st. Industrial Alliance Securities set a $35.00 price objective on Gates Industrial in a report on Monday, August 25th. Zacks Research upgraded Gates Industrial from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 20th. Citigroup lifted their price objective on Gates Industrial from $22.00 to $29.00 and gave the company a "buy" rating in a report on Monday, July 14th. Finally, Wall Street Zen upgraded Gates Industrial from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 12th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.18.

Gates Industrial Stock Down 0.4%

NYSE GTES traded down $0.11 during trading on Friday, hitting $25.94. The stock had a trading volume of 1,079,535 shares, compared to its average volume of 2,254,019. The company has a market capitalization of $6.68 billion, a PE ratio of 33.27 and a beta of 1.25. The company's 50-day moving average price is $24.81 and its two-hundred day moving average price is $21.73. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.46 and a current ratio of 3.46. Gates Industrial Corporation PLC has a 12 month low of $14.70 and a 12 month high of $26.42.

Gates Industrial (NYSE:GTES - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The firm had revenue of $883.70 million for the quarter, compared to analysts' expectations of $873.34 million. Gates Industrial had a return on equity of 10.17% and a net margin of 5.98%.The business's quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 EPS. Gates Industrial has set its FY 2025 guidance at 1.440-1.520 EPS. As a group, sell-side analysts forecast that Gates Industrial Corporation PLC will post 1.36 EPS for the current year.

Gates Industrial 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.