Graham Capital Management L.P. Purchases 32,619 Shares of Gates Industrial Corporation PLC $GTES

Key Points

• Graham Capital Management L.P. increased its holdings in Gates Industrial Corporation by 299.8% in the 1st quarter, now owning 43,500 shares worth approximately $801,000.
• Several institutional investors have also made significant investments in Gates, with 98.50% of the stock currently owned by institutional investors.
• Gates Industrial reported $0.39 EPS, surpassing the consensus estimate of $0.38, and its quarterly revenue reached $883.70 million, slightly above analyst expectations.

Graham Capital Management L.P. raised its position in shares of Gates Industrial Corporation PLC (NYSE:GTES - Free Report) by 299.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,500 shares of the company's stock after purchasing an additional 32,619 shares during the period. Graham Capital Management L.P.'s holdings in Gates Industrial were worth $801,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of GTES. SVB Wealth LLC bought a new position in Gates Industrial during the first quarter valued at $34,000. MetLife Investment Management LLC boosted its holdings in shares of Gates Industrial by 15.8% in the fourth quarter. MetLife Investment Management LLC now owns 4,157 shares of the company's stock worth $86,000 after acquiring an additional 567 shares during the period. Avanza Fonder AB bought a new position in shares of Gates Industrial in the first quarter worth $145,000. GAMMA Investing LLC boosted its holdings in shares of Gates Industrial by 81.0% in the first quarter. GAMMA Investing LLC now owns 9,099 shares of the company's stock worth $168,000 after acquiring an additional 4,073 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in shares of Gates Industrial by 295.1% in the first quarter. Versant Capital Management Inc now owns 9,853 shares of the company's stock worth $181,000 after acquiring an additional 7,359 shares during the period. 98.50% of the stock is owned by institutional investors.

Gates Industrial Price Performance

NYSE:GTES opened at $25.91 on Friday. The firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of 33.21 and a beta of 1.25. Gates Industrial Corporation PLC has a 52-week low of $14.70 and a 52-week high of $26.33. The stock has a fifty day moving average of $24.60 and a 200 day moving average of $21.63. 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 (NYSE:GTES - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. The company had revenue of $883.70 million during the quarter, compared to analyst estimates of $873.34 million. Gates Industrial had a return on equity of 10.17% and a net margin of 5.98%.The firm's quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the company earned $0.36 earnings per share. Gates Industrial has set its FY 2025 guidance at 1.440-1.520 EPS. On average, research analysts expect that Gates Industrial Corporation PLC will post 1.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wall Street Zen raised Gates Industrial from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 12th. Citigroup raised their price target on Gates Industrial from $22.00 to $29.00 and gave the stock a "buy" rating in a report on Monday, July 14th. JPMorgan Chase & Co. assumed coverage on Gates Industrial in a report on Monday, August 25th. They issued an "overweight" rating and a $35.00 price target for the company. Barclays reaffirmed an "overweight" rating and issued a $28.00 price target (up from $26.00) on shares of Gates Industrial in a report on Monday, August 4th. Finally, UBS Group raised their price target on Gates Industrial from $27.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Gates Industrial currently has an average rating of "Moderate Buy" and a consensus target price of $28.18.

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.

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